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...
