2014
DOI: 10.1215/01642472-2820400
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Touching Ecstasy

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“…The banks were willing to go along because they could lend to firms at below-market rates and still maintain reasonable spreads (margins between deposit rates and lending rates).' 10 The strategy worked as long as local and global demand was dynamic and rising. But the rise in local demand was eventually constrained by people's high level of savings, even as intensified international competition slowed the rate of growth of Japanese exports.…”
Section: Overproduction and Stagnationmentioning
confidence: 99%
“…The banks were willing to go along because they could lend to firms at below-market rates and still maintain reasonable spreads (margins between deposit rates and lending rates).' 10 The strategy worked as long as local and global demand was dynamic and rising. But the rise in local demand was eventually constrained by people's high level of savings, even as intensified international competition slowed the rate of growth of Japanese exports.…”
Section: Overproduction and Stagnationmentioning
confidence: 99%