NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

NBER Working Papers by Wako Watanabe

Contact and additional information for this authorAll publicationsWorking Papers only

Working Papers

April 2007Bank Size and Lending Relationships in Japan
with Hirofumi Uchida, Gregory F.Udell: w13005
Current theoretical and empirical research suggests that small banks have a comparative advantage in processing soft information and delivering relationship lending. The most comprehensive analysis of this view found using U.S. data that smaller SMEs borrow from smaller banks and smaller banks have stronger relationships with their borrowers (Berger, Miller, Petersen, Rajan, and Stein 2005) (BMPRS). We employ essentially the same methodology as BMPRS on a unique Japanese data set and obtained findings that are quite interesting from an international comparison point of view. We found like BMPRS that larger firms tend to borrow from larger banks. However, unlike BMPRS we did not find that this was because larger firms are more transparent. Together these results imply that large banks do no...
January 2000Are Americans More Altruistic than the Japanese? A U.S.-Japan Comparison of Saving and Bequest Motives
with Charles Yuji Horioka, Hideki Fujisaki, Takatsugu Kouno: w7463
In this paper, we analyze a variety of data on saving motives, bequest motives, and bequest division from the Comparative Survey of Savings in Japan and the United States,' a binational survey conducted in 1996 by the Institute for Posts and Telecommunications Policy of the Ministry of Posts and Telecommunications of the Government of Japan, in order to shed light on which model of household behavior applies in the two countries. We find (1) that the selfish life cycle model is the dominant model of household behavior in both countries but that it is far more applicable in Japan than it is in the U.S., (2) that the altruism model is far more applicable in the U.S. than it is in Japan but that it is not the dominant model of household behavior in either country, and (3) that the dynasty m...

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