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Japanese Banks And The Asset Price Bubble
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Book Synopsis Japanese Banks and the Asset Price "Bubble" by : Mr.Steven M. Fries
Download or read book Japanese Banks and the Asset Price "Bubble" written by Mr.Steven M. Fries and published by International Monetary Fund. This book was released on 1993-11-01 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: With the recent collapse of the asset price “bubble,” Japanese banks encountered significant pressure from both a sharp decline in the value of equity holdings and a marked increase in bad loans. In August 1992, the Government initiated measures that stabilized equity prices and assisted banks in managing their nonperforming loans. While the major banks disclosed that 4.6 percent of their total loans were nonperforming at the end of FY 1992, a mechanical estimate of all banks’ nonperforming and restructured loans is 6-7 percent of their total loans--a serious yet manageable problem. The main policy implications are to ensure the reasonably prompt resolution of the bad loan problem and to enhance market discipline to prevent its recurrence.
Book Synopsis Japanese Banks and the Asset Price "Bubble" by : Steven Fries
Download or read book Japanese Banks and the Asset Price "Bubble" written by Steven Fries and published by . This book was released on 2006 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: With the recent collapse of the asset price quot;bubble,quot; Japanese banks encountered significant pressure from both a sharp decline in the value of equity holdings and a marked increase in bad loans. In August 1992, the Government initiated measures that stabilized equity prices and assisted banks in managing their nonperforming loans. While the major banks disclosed that 4.6 percent of their total loans were nonperforming at the end of FY 1992, a mechanical estimate of all banks` nonperforming and restructured loans is 6-7 percent of their total loans a serious yet manageable problem. The main policy implications are to ensure the reasonably prompt resolution of the bad loan problem and to enhance market discipline to prevent its recurrence.
Book Synopsis It Takes More Than a Bubble to Become Japan by : Adam Simon Posen
Download or read book It Takes More Than a Bubble to Become Japan written by Adam Simon Posen and published by . This book was released on 2004 with total page 190 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Post-Bubble Blues by : Mr.Tamim Bayoumi
Download or read book Post-Bubble Blues written by Mr.Tamim Bayoumi and published by International Monetary Fund. This book was released on 2000-03-09 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt: What caused Asia's largest economy, once the envy of the world, to lag behind many of the other industrial countries? And why did it take so long for Japan to recover from the bursting of its asset price bubble of the late 1980s? In this volume, a team from the International Monetary Fund examines the causes of the lingering economic problems of Japan, the crisis in its banking system, the reasons for weak business investment, and the government's efforts to kick-start the economy through a series of stimulus packages. This book presents a compelling story about Japan's economy. Its message - that banking reform and corporate restructuring are central to any sustained revival of the economy- is backed up through detailed background research. This research provided the analytical framework for the IMF's policy advice during a period of rapid change--a period during which macroeconomic policymaking moved into uncharted territory. The research papers were prepared by members of the Japan team in the IMF during 1998 and the first half of 1999.
Book Synopsis Asset Price Bubbles by : William Curt Hunter
Download or read book Asset Price Bubbles written by William Curt Hunter and published by MIT Press. This book was released on 2005 with total page 650 pages. Available in PDF, EPUB and Kindle. Book excerpt: A study of asset price bubbles and the implications for preventing financial instability.
Book Synopsis Japanese banks and the asset price " bubble" by : Fondo Monetario Internacional
Download or read book Japanese banks and the asset price " bubble" written by Fondo Monetario Internacional and published by . This book was released on 1993 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Asset Prices, Financial Stability, and Monetary Policy by : Shigenori Shiratsuka
Download or read book Asset Prices, Financial Stability, and Monetary Policy written by Shigenori Shiratsuka and published by . This book was released on 2000 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Princes of the Yen by : Richard Werner
Download or read book Princes of the Yen written by Richard Werner and published by Routledge. This book was released on 2015-03-04 with total page 384 pages. Available in PDF, EPUB and Kindle. Book excerpt: This eye-opening book offers a disturbing new look at Japan's post-war economy and the key factors that shaped it. It gives special emphasis to the 1980s and 1990s when Japan's economy experienced vast swings in activity. According to the author, the most recent upheaval in the Japanese economy is the result of the policies of a central bank less concerned with stimulating the economy than with its own turf battles and its ideological agenda to change Japan's economic structure. The book combines new historical research with an in-depth behind-the-scenes account of the bureaucratic competition between Japan's most important institutions: the Ministry of Finance and the Bank of Japan. Drawing on new economic data and first-hand eyewitness accounts, it reveals little known monetary policy tools at the core of Japan's business cycle, identifies the key figures behind Japan's economy, and discusses their agenda. The book also highlights the implications for the rest of the world, and raises important questions about the concentration of power within central banks.
Book Synopsis Japan's Bubble, Deflation, and Long-term Stagnation by : Kōichi Hamada
Download or read book Japan's Bubble, Deflation, and Long-term Stagnation written by Kōichi Hamada and published by MIT Press. This book was released on 2011 with total page 435 pages. Available in PDF, EPUB and Kindle. Book excerpt: New perspectives on Japan's "lost decade" viewed in the context of recent financial turmoil.
Book Synopsis The Japanese Banking Crisis by : Ryozo Himino
Download or read book The Japanese Banking Crisis written by Ryozo Himino and published by Springer Nature. This book was released on 2021-01-07 with total page 127 pages. Available in PDF, EPUB and Kindle. Book excerpt: This open access book provides a readable narrative of the bubbles and the banking crisis Japan experienced during the two decades between the late 1980s and the early 2000s. Japan, which was a leading competitor in the world’s manufacturing sector, tried to transform itself into an economy with domestic demand-led mature growth, but the ensuing bubbles and crisis instead made the country suffer from chronicle deflation and stagnation. The book analyses why the Japanese authorities could not avoid making choices that led to this outcome. The chapters are based on the lectures to regulators from emerging economies delivered at the Global Financial Partnership Center of the Financial Services Agency of Japan.
Book Synopsis Japan's Policy Trap by : Akio Mikuni
Download or read book Japan's Policy Trap written by Akio Mikuni and published by Rowman & Littlefield. This book was released on 2004-05-13 with total page 314 pages. Available in PDF, EPUB and Kindle. Book excerpt: Until quite recently, the Japanese inspired a kind of puzzled awe. They had pulled themselves together from the ruin of war, built at breakneck speed a formidable array of export champions, and emerged as the world's number-two economy and largest net creditor nation. And they did it by flouting every rule of economic orthodoxy. But today only the puzzlement remains—at Japan's inability to arrest its economic decline, at its festering banking crisis, and at the dithering of its policymakers. Why can't the Japanese government find the political will to fix the country's problems? Japan's Policy Trap offers a provocative new analysis of the country's protracted economic stagnation. Japanese insider Akio Mikuni and long-term Japan resident R. Taggart Murphy contend that the country has landed in a policy trap that defies easy solution. The authors, who have together spent decades at the heart of Japanese finance, expose the deep-rooted political arrangements that have distorted Japan's monetary policy in a deflationary direction. They link Japan's economic difficulties to the Achilles' heel of the U.S. economy: the U.S. trade and current accounts deficits. For the last twenty years, Japan's dollar-denominated trade surplus has outstripped official reserves and currency in circulation. These huge accumulated surpluses have long exercised a growing and perverse influence on monetary policy, forcing Japan's authorities to support a build-up of deflationary dollars. Mikuni and Murphy trace the origins of Japan's policy trap far back into history, in the measures taken by Japan's officials to preserve their economic independence in what they saw as a hostile world. Mobilizing every resource to accumulate precious dollars, the authorities eventually found themselves coping with a hoard they could neither use nor exchange. To counteract the deflationary impact, Japanese authorities resorted to the creation of yen liabilities unrelated to production via the large
Book Synopsis Japan's Financial Crisis by : Jennifer Amyx
Download or read book Japan's Financial Crisis written by Jennifer Amyx and published by Princeton University Press. This book was released on 2013-10-31 with total page 392 pages. Available in PDF, EPUB and Kindle. Book excerpt: At the beginning of the 1990s, a massive speculative asset bubble burst in Japan, leaving the nation's banks with an enormous burden of nonperforming loans. Banking crises have become increasingly common across the globe, but what was distinctive about the Japanese case was the unusually long delay before the government intervened to aggressively address the bad debt problem. The postponed response by Japanese authorities to the nation's banking crisis has had enormous political and economic consequences for Japan as well as for the rest of the world. This book helps us understand the nature of the Japanese government's response while also providing important insights into why Japan seems unable to get its financial system back on track 13 years later. The book focuses on the role of policy networks in Japanese finance, showing with nuance and detail how Japan's Finance Ministry was embedded within the political and financial worlds, how that structure was similar to and different from that of its counterparts in other countries, and how the distinctive nature of Japan's institutional arrangements affected the capacity of the government to manage change. The book focuses in particular on two intervening variables that bring about a functional shift in the Finance Ministry's policy networks: domestic political change under coalition government and a dramatic rise in information requirements for effective regulation. As a result of change in these variables, networks that once enhanced policymaking capacity in Japanese finance became "paralyzing networks"--with disastrous results.
Book Synopsis Saving Behavior and the Asset Price "Bubble" in Japan by : Mr.Ulrich Baumgartner
Download or read book Saving Behavior and the Asset Price "Bubble" in Japan written by Mr.Ulrich Baumgartner and published by International Monetary Fund. This book was released on 1995-04-21 with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume brings together various analytical studies the IMF staff has undertaken on the Japanese economy, focusing on two areas of particular interest for both longer-term economic performance and recent cyclical developments. The first is Japan's saving behavior, the second is the remarkable swing in asset prices that occurred in the late 1980s and early 1990s.
Book Synopsis Japan's Financial Crisis and Its Parallels to U.S. Experience by : Ryōichi Mikitani
Download or read book Japan's Financial Crisis and Its Parallels to U.S. Experience written by Ryōichi Mikitani and published by Peterson Institute. This book was released on 2000 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: Japan is only one of many industrialized economies to suffer a financial crisis in the past 15 years, but it has suffered the most from its crisis--as measured in lost output and investment opportunities, and in the direct costs of clean-up. Comparing the response of Japanese policy in the 1990s to that of US monetary and financial policy to the American Savings and Loan Crisis of the late 1980s sheds light on the reasons for this outcome. This volume was created by bringing together several leading academics from the United States and Japan--plus former senior policymakers from both countries--to discuss the challenges to Japanese financial and monetary policy in the 1990s. The papers address in turn both the monetary and financial aspects of the crisis, and the discussants bring together broad themes across the two countries' experiences. As the papers in this Special Report demonstrate, while the Japanese government's policy response to its banking crisis in the 1990s was slow in comparison to that of the US government a decade earlier, the underlying dynamics were similar. A combination of mismanaged partial deregulation and regulatory forebearance gave rise to the crisis and allowed it to deepen, and only the closure of some banks and injection of new capital into others began the resolution. The Bank of Japan's monetary policy from the late 1980s onward, however, was increasingly out of step with US or other developed country norms. In particular, the Bank of Japan's limited response to deflation after being granted independence in 1998 stands out as a dangerous and unusual stance.
Book Synopsis Asset Price Bubbles, Price Stability, and Monetary Policy by : Kunio Okina
Download or read book Asset Price Bubbles, Price Stability, and Monetary Policy written by Kunio Okina and published by . This book was released on 2001 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Asset Price Bubble in Japan in the 1980s by : Shigenori Shiratsuka
Download or read book Asset Price Bubble in Japan in the 1980s written by Shigenori Shiratsuka and published by . This book was released on 2003 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Bubble Economy by : Christopher Wood
Download or read book The Bubble Economy written by Christopher Wood and published by . This book was released on 1992 with total page 234 pages. Available in PDF, EPUB and Kindle. Book excerpt: Japan may have a first-rate economy, but it has also a second-rate financial system and that weakness could prove disastrous. This book tells the story of this 'Bubble Economy', of the scandals it has spawned in both the banking and securities business, and of its effects on the world's economy.
