01646cas a2200241 a 4500 AALejournalIMF000796 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451841886 1018-5941 BD-DhAAL BD-DhAAL Woo, David. In Search of "Capital Crunch" : Supply Factors Behind the Credit Slowdown in Japan / David Woo. Washington, D.C. : International Monetary Fund, 1999. 1 online resource (28 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students The seeming failure of loose monetary policy to reactivate Japan's economy has led some observers to suggest that the usual credit channels through which monetary policy affects the real economy are blocked, and this because of a pervasive shortage of bank capital that has induced a leftward shift in the supply of bank credit: the so called credit crunch hypothesis. This paper finds support for the hypothesis in the 1997 bank data-a year during which the landscape of the Japanese financial system was changed fundamentally-but finds no, or even contrary, evidence, for most of the 1990's. Mode of access: Internet IMF Working Papers; Working Paper ; No. 1999/003 Full text available on IMF http://elibrary.imf.org/view/journals/001/1999/003/001.1999.issue-003-en.xml IMF e-Library