For example, in Japan during the bubble years, we have seen sizable expansion of credit in the form of increases in bank lending and issuances in the capital markets.
1  BIS Review 84/1999  Meanwhile, in the case of the Asian economies, bank lending from developed countries increased at an annual rate of 19 per cent in the years between 1990 and 1996 (27 per cent per annum in the last three years).