The book provides an overview of the Postal Savings System and the Fiscal Investment and Loan Program. These institutions are a major feature of Japanese finance, not extensively discussed outside of Japan. Together, they represent a wide-ranging system of government financial intermediation that is increasingly incompatible with Japan's early efforts to develop a modern financial system and help reverse the economic and financial decline that started in the early 1990s. The book is a mixture of policy, institutional, and quantitative analysis.
The book provides an overview of the Postal Savings System and the Fiscal Investment and Loan Program. These institutions are a major feature of Japan...
This book tells the story of the performance of Japan s economic and political institutions starting in the late 1970s through late 2007. The authors explain how Japan s flawed response to new economic, political, and technological forces requiring more open markets and more democratic political institutions ushered in a lost decade and a half of economic development from 1990 to 2005. Japan s impressive economic performance in the 1980s in fact masked an accident waiting to happen, the accident being the burst of the bubble in equity and real estate prices in 1990 and 1991. Japan s iron...
This book tells the story of the performance of Japan s economic and political institutions starting in the late 1970s through late 2007. The authors ...
Thomas F. Cargill Michael M. Hutchison Ito Takatoshi
Japan's financial institutions and policy underwent remarkable change in the past decade. The country began the 1990s with a heavily regulated financial system managed by an unchallenged Ministry of Finance and ended the decade with a Big Bang financial market reform, a complete restructuring of its regulatory financial institutions, and an independent central bank. These reforms have taken place amid recession and rising unemployment, collapsing asset prices, a looming banking crisis, and the lowest interest rates in the industrial world.This book analyzes how the bank-dominated financial...
Japan's financial institutions and policy underwent remarkable change in the past decade. The country began the 1990s with a heavily regulated fina...
