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| Author | : Maximilian Hall |
| Publisher | : Edward Elgar Publishing |
| Total Pages | : 248 |
| Release | : 1998 |
| Genre | : Business & Economics |
| ISBN | : |
This text provides a detailed analysis of the post-war evolution of financial markets and financial regulation in Japan, paying special attention to the period since 1975.
| Author | : Steven J. Ericson |
| Publisher | : Cornell University Press |
| Total Pages | : 141 |
| Release | : 2020-02-15 |
| Genre | : History |
| ISBN | : 1501746936 |
With a new look at the 1880s financial reforms in Japan, Steven J. Ericson's Financial Stabilization in Meiji Japan overturns widely held views of the program carried out by Finance Minister Matsukata Masayoshi. As Ericson shows, rather than constituting an orthodox financial-stabilization program—a sort of precursor of the "neoliberal" reforms promoted by the IMF in the 1980s and 1990s—Matsukata's policies differed in significant ways from both classical economic liberalism and neoliberal orthodoxy. The Matsukata financial reform has become famous largely for the wrong reasons, and Ericson sets the record straight. He shows that Matsukata intended to pursue fiscal retrenchment and budget-balancing when he became finance minister in late 1881. Various exigencies, including foreign military crises and a worsening domestic depression, compelled him instead to increase spending by running deficits and floating public bonds. Though he drastically reduced the money supply, he combined the positive and contractionary policies of his immediate predecessors to pull off a program of "expansionary austerity" paralleling state responses to financial crisis elsewhere in the world both then and now. Through a new and much-needed recalibration of this pivotal financial reform, Financial Stabilization in Meiji Japan demonstrates that, in several ways, ranging from state-led export promotion to the creation of a government-controlled central bank, Matsukata advanced policies that were more in line with a nationalist, developmentalist approach than with a liberal economic one. Ericson shows that Matsukata Masayoshi was far from a rigid adherent of classical economic liberalism.
| Author | : William Tsutsui |
| Publisher | : Routledge |
| Total Pages | : 319 |
| Release | : 2010-11-01 |
| Genre | : Business & Economics |
| ISBN | : 1136928405 |
The unique Japanese banking system has contributed greatly to Japan’s post-war economic advance by investing aggressively in industry and by supporting close government-business relations. The banking sector might not have come to assume such a significant role, however, had American efforts to reform Japanese finance during the Occupation (1945-52) been successful. How Japan’s banking system maintained continuity of development and avoided the occupiers’ attempts at "democratisation" and "Americanisation" is the subject of this book. It explores why the Americans were committed to reform, the reasons they failed and how important the maintenance of the financial status quo was to the subsequent development of Japan’s "miracle" economy.
| Author | : Thomas F. Cargill |
| Publisher | : Hoover Press |
| Total Pages | : 260 |
| Release | : 1988 |
| Genre | : Finance |
| ISBN | : 9780817987237 |
| Author | : Maximilian Hall |
| Publisher | : |
| Total Pages | : 23 |
| Release | : 1998 |
| Genre | : Finance |
| ISBN | : 9781899275380 |
| Author | : Eisuke Sakakibara |
| Publisher | : Rowman & Littlefield |
| Total Pages | : 220 |
| Release | : 2003-12-22 |
| Genre | : Business & Economics |
| ISBN | : 9780815796268 |
In this unusually candid book, Japan's former top financial diplomat asserts the urgent need for wholesale structural reform to revitalize the long-stagnant Japanese economy. Eisuke Sakakibara, whose influence over global currency markets earned him the nickname of "Mr. Yen," envisions a social and economic revolution that encompasses all sectors of Japanese society. Whereas previous analyses of Japanese policies of the past decade focus narrowly on such issues as nonperforming assets and deregulation, Sakakibara provides a new perspective. Japan's economic problems are structural, rather than cyclical, according to Sakakibara. Profitable investment opportunities are hard to find in the dysfunctional corporate sector, where costs are high and income continues to decline. The country's entrenched power elite—the Liberal Democratic Party, the bureaucracy, and vested interest groups—are threatened by reform efforts. It will be difficult to restore economic health to Japan until its political leaders are able to break the grip of this "iron triangle" and implement aggressive, widespread reforms. This book furthers the understanding that structural reform or new institution building in Japan needs an all-encompassing approach that includes the various sectors of Japanese society and the economy. Only with this kind of understanding can pragmatic and meaningful structural reform in Japan be implemented.
| Author | : On Kit Tam |
| Publisher | : |
| Total Pages | : 62 |
| Release | : 1988 |
| Genre | : China |
| ISBN | : |
| Author | : Christopher Weare |
| Publisher | : Institute of Governmental Studies Press |
| Total Pages | : 76 |
| Release | : 1999 |
| Genre | : Finance |
| ISBN | : |
| Author | : Masaaki Shirakawa |
| Publisher | : Yale University Press |
| Total Pages | : 534 |
| Release | : 2021-01-01 |
| Genre | : Business & Economics |
| ISBN | : 0300258976 |
A rare insider's account of the inner workings of the Japanese economy, and the Bank of Japan's monetary policy, by a career central banker The Japanese economy, once the envy of the world for its dynamism and growth, lost its shine after a financial bubble burst in early 1990s and slumped further during the Global Financial Crisis in 2008. It suffered even more damage in 2011, when a severe earthquake set off the Fukushima Daiichi nuclear disaster. However, the Bank of Japan soldiered on to combat low inflation, low growth, and low interest rates, and in many ways it served as a laboratory for actions taken by central banks in other parts of the world. Masaaki Shirakawa, who led the bank as governor from 2008 to 2013, provides a rare insider's account of the workings of Japanese economic and monetary policy during this period and how it challenged mainstream economic thinking.
| Author | : Magnus Blomström |
| Publisher | : Routledge |
| Total Pages | : 240 |
| Release | : 2006-08-21 |
| Genre | : Business & Economics |
| ISBN | : 113418056X |
This is a new analysis of recent changes in important Japanese institutions. It addresses the origin, development, and recent adaptation of core institutions, including financial institutions, corporate governance, lifetime employment, and the amakudari system. After four decades of rapid economic growth in Japan, the 1990s saw the country enter a prolonged period of economic stagnation. Policy reforms were initially half-hearted, and businesses were slow to restructure as the global economy changed. The lagging economy has been impervious to aggressive fiscal stimulus measures and has been plagued by ongoing price deflation for years. Japan’s struggle has called into question the ability of the country’s economic institutions, originally designed to support factor accumulation and rapid development, to adapt to the new economic environment of the twenty-first century. This book discusses both historical and international comparisons including Meiji Japan, and recent economic and financial reforms in Korea, Scandinavia, Switzerland, and New Zealand, placing the current institutional changes in perspective. The contributors argue that, contrary to conventional wisdom that Japanese institutions have remained relatively rigid, there has been significant institutional change over the last decade.
