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Japan's Big Bang

Author : Declan Hayes
Publisher : Tuttle Publishing
ISBN 13 : 1462902006
Total Pages : 215 pages
Book Rating : 4.4/5 (629 download)

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Book Synopsis Japan's Big Bang by : Declan Hayes

Download or read book Japan's Big Bang written by Declan Hayes and published by Tuttle Publishing. This book was released on 2011-09-13 with total page 215 pages. Available in PDF, EPUB and Kindle. Book excerpt: Japan's national economy: understanding the history of the current crisis and proposing a path forward The consistent failure of the Japanese bureaucracy and business establishment to meet proper management and regulatory standards has made America's premier ally in Asia a major source of financial instability in today's world. Japan has the world's biggest everbad–debt burden Japan has allowed organized crime to systematically infiltrate its financial institutions Japan's national pension system faces imminent bankruptcy Japan's banks, brokerages, and insurance houses are near insolvency and welded to obsolete practices that hold the entire country and region back Japan's Big Bang traces the hurdles Japan must overcome to once again reign as one of the world's preeminent financial powerhouses. With an academic's analytical eye and the tenacity of a financial beat reporter, Declan Hayes explores the tangled mess that was and is Japan's economy, and explores the remedial action Japan must follow to regain and sustain its position as the economic engine of Asia.

Financial Reform in Japan

Author : Maximilian Hall
Publisher :
ISBN 13 : 9781899275380
Total Pages : 23 pages
Book Rating : 4.2/5 (753 download)

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Book Synopsis Financial Reform in Japan by : Maximilian Hall

Download or read book Financial Reform in Japan written by Maximilian Hall and published by . This book was released on 1998 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Political Economy of the Japanese Financial Big Bang

Author : Tetsuro Toya
Publisher : Oxford University Press
ISBN 13 : 0191537721
Total Pages : pages
Book Rating : 4.1/5 (915 download)

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Book Synopsis The Political Economy of the Japanese Financial Big Bang by : Tetsuro Toya

Download or read book The Political Economy of the Japanese Financial Big Bang written by Tetsuro Toya and published by Oxford University Press. This book was released on 2006-04-06 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: In 1996, the Japanese government introduced a policy package initiating massive deregulation and liberalization in the nation's financial sector, referred to as Japan's financial 'Big Bang.' This book argues that the emergence of the Big Bang Initiative poses numerous challenges to conventional interpretations of Japanese politics and represents a clear case of institutional change in Japanese finance. Whereas many observers stress continuity in Japanese politics, this book argues that the emergence in the 1990s of performance failures and scandals attributed to the bureaucracy, as well as the increase in the likelihood of a change in government in this period, led policymaking patterns surrounding the Big Bang to differ radically from those dominating public policymaking in the past. These developments led to change in the nature of the alliance between the ruling Liberal Democratic Party (LDP) and the Ministry of Finance (MOF), to a shift in priorities within the MOF, and to a heightened role for the public in policymaking. The result was that the MOF, long perceived as 'entrenched' and seeking to maximize tangible tokens of organizational power, became more than willing to launch the Big Bang, despite the fact that these reforms would strip the ministry of many of its regulatory tools and sever the ministry's close ties with the financial sector. The book also argues that these new developments prevented financial industry actors from forestalling these reforms, as they had done in the past with other reforms similarly threatening the viability of weaker firms. The findings reveal that not only politicians, but also bureaucrats and interest groups, have reasons to pursue public support to enhance their respective political influence. Consequently, well-organized groups do not always prevail over the unorganized public.

Japan's Big Bang

Author : Maximilian Hall
Publisher :
ISBN 13 : 9781899275496
Total Pages : 22 pages
Book Rating : 4.2/5 (754 download)

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Book Synopsis Japan's Big Bang by : Maximilian Hall

Download or read book Japan's Big Bang written by Maximilian Hall and published by . This book was released on 1999 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Political Economy of the Japanese Financial Big Bang

Author : Tetsuro Toya
Publisher : Oxford University Press
ISBN 13 : 9780199292394
Total Pages : 349 pages
Book Rating : 4.2/5 (923 download)

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Book Synopsis The Political Economy of the Japanese Financial Big Bang by : Tetsuro Toya

Download or read book The Political Economy of the Japanese Financial Big Bang written by Tetsuro Toya and published by Oxford University Press. This book was released on 2006-04-06 with total page 349 pages. Available in PDF, EPUB and Kindle. Book excerpt: Did Japanese politics change in the 1990s? -- A rational actor approach -- How do systems change? : Actors, preferences, strategies, and institutions in financial politics -- Expected economic implications of the big bang -- A political analysis of the emergence of the big bang initiative -- The financial industry and the big bang -- New developments in bureaupluralism : comparing and contrasting the big bang to the 1998 "Financial diet"--Two institutional changes -- Conclusion.

Managing to Achieve Multiple Goals

Author : Christopher Weare
Publisher : Institute of Governmental Studies Press
ISBN 13 :
Total Pages : 86 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Managing to Achieve Multiple Goals by : Christopher Weare

Download or read book Managing to Achieve Multiple Goals written by Christopher Weare and published by Institute of Governmental Studies Press. This book was released on 1999 with total page 86 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Money Rules

Author : Henry Laurence
Publisher : Cornell University Press
ISBN 13 : 9780801437731
Total Pages : 254 pages
Book Rating : 4.4/5 (377 download)

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Book Synopsis Money Rules by : Henry Laurence

Download or read book Money Rules written by Henry Laurence and published by Cornell University Press. This book was released on 2001 with total page 254 pages. Available in PDF, EPUB and Kindle. Book excerpt: Henry Laurence traces financial market reform in Britain and Japan over the last two decades, charting the movement of the Anglo-Saxon and Japanese styles of capitalism toward a new, hybrid form of economic organization. He explains what these two stories reveal about changes in the nature of business-government relations in an age of convergence.The package of reforms known in Britain as the "Big Bang" and in Japan as "Biggu Bangu" decontrolled prices, liberalized the number and nature of financial instruments that could be traded, opened both countries' markets to foreigners, and introduced a much greater degree of competition than would have been believed possible twenty years earlier. At the same time, Britain and Japan have undertaken stringent measures to improve the transparency and fairness of their markets.Why did two countries with traditionally very different regulatory styles adopt such strikingly similar reforms, and why did these reforms result in a mixture of deregulation in some areas and tighter control in others? In explaining these apparent contradictions, Laurence invokes the powerful domestic political impact of international capital mobility.Money Rules challenges the view that bureaucracy is the most powerful actor in the policymaking process. Using extensive interviews with more than one hundred policymakers and financial professionals in both countries, the author rebuts conventional wisdom. He argues that the events in Britain and Japan demonstrate striking crossnational convergence of political and economic institutions.

The 'Big Bang' in Japanese Higher Education

Author : Jeremy Seymour Eades
Publisher :
ISBN 13 :
Total Pages : 360 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis The 'Big Bang' in Japanese Higher Education by : Jeremy Seymour Eades

Download or read book The 'Big Bang' in Japanese Higher Education written by Jeremy Seymour Eades and published by . This book was released on 2005 with total page 360 pages. Available in PDF, EPUB and Kindle. Book excerpt: The changes in Japanese higher education were anticipated as far back as the 1990s, when studies began of changes in the UK higher education systems. By 1999 the "Arima Plan," which turned universities into autonomous corporations was announced and the growth of new international universities began.

Foreign Entry Into Underwriting Services

Author : Mark M. Spiegel
Publisher : DIANE Publishing
ISBN 13 : 1437933866
Total Pages : 41 pages
Book Rating : 4.4/5 (379 download)

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Book Synopsis Foreign Entry Into Underwriting Services by : Mark M. Spiegel

Download or read book Foreign Entry Into Underwriting Services written by Mark M. Spiegel and published by DIANE Publishing. This book was released on 2010-10 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: Examines the impact of foreign underwriting activity on bond markets using issue-level data in the Japanese ¿Samurai¿ and euro-yen bond markets. Firms choosing Japanese underwriters tend to be Japanese, riskier, and smaller. Japanese underwriting fees, while higher overall on average, are actually lower after conditioning for issuer characteristics. The authors conducted a matching exercise to examine the 1995 liberalization of foreign access to the ¿Samurai¿ bond market, using yen-denominated issues in the euro-yen market as a control. Foreign entry led to a significant decrease in underwriting fees in the Samurai bond market. The market for underwriting services is segmented by nationality, as issuers appear to have preferred habitats. Illus.

Crisis and Change in the Japanese Financial System

Author : Takeo Hoshi
Publisher : Springer Science & Business Media
ISBN 13 : 1461543959
Total Pages : 326 pages
Book Rating : 4.4/5 (615 download)

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Book Synopsis Crisis and Change in the Japanese Financial System by : Takeo Hoshi

Download or read book Crisis and Change in the Japanese Financial System written by Takeo Hoshi and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 326 pages. Available in PDF, EPUB and Kindle. Book excerpt: At the start of the twenty-first century, the Japanese financial system is undergoing a major transformation. This process is spurred by a sense of crisis. Dominated by large institutions, the Japanese banking system has suffered from serious problems with non-performing loans since the early 1990s, when the Japanese stock market and urban real estate market both crashed. Delays in responding to these twin asset bubbles, by both regulatory authorities and the banks themselves, made matters worse and led to a banking crisis in late 1997 and early 1998. Not anticipating this setback, in late 1996 the Japanese government inaugurated its Big Bang of comprehensive financial deregulation designed to complete the process of creating `free, fair, and open financial markets'. Beginning in late 1998 and early 1999 the government finally embarked on a major rehabilitation of the Japanese banking system, including making available some Yen 60 trillion (approximately USD 500 billion) of government funds to recapitalize fifteen major banks, adequately fund the deposit insurance program, and write off the bad loans of nationalized or bankrupted banks. One result of this reform process is that the Ministry of Finance (MOF), which dominated Japanese financial system policy for most of the post-war period, has been stripped of most of its former regulatory powers. The purpose of this book is to describe, analyze, and evaluate the process that is transforming the Japanese financial system. The chapters address various issues relating to the transition of the Japanese financial system from a bank-centered and relationship-based system to a competitive market-based system. Questions taken up include: Why did Japanese banks get into such serious trouble? Why has the MOF lost its immense power? How will the Big Bang's financial deregulation further change the Japanese financial system, including the huge government financial institutions and postal savings system? What are some of the broader implications of this transition? The book is divided into three parts: Part I considers the origins of Japan's banking crisis; Part II focuses on five particularly important areas of major actual and potential changes; Part III addresses the effects of the Big Bang, including its potential systemic externalities. Taken together, this book offers an unusually up-to-date, comprehensive and thorough appraisal and evaluation of the profound changes occurring in Japan's financial system.

Financial Policy and Central Banking in Japan

Author : Thomas F. Cargill
Publisher : MIT Press
ISBN 13 : 026226210X
Total Pages : 205 pages
Book Rating : 4.2/5 (622 download)

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Book Synopsis Financial Policy and Central Banking in Japan by : Thomas F. Cargill

Download or read book Financial Policy and Central Banking in Japan written by Thomas F. Cargill and published by MIT Press. This book was released on 2001-01-03 with total page 205 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book analyzes how the bank-dominated financial system—a key element of the oft-heralded "Japanese economic model"—broke down in the 1990s and spawned sweeping reforms. 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 system—a key element of the oft-heralded "Japanese economic model"—broke down in the 1990s and spawned sweeping reforms. It documents the sources of the Japanese economic stagnation of the 1990s, the causes of the financial crisis, the slow and initially limited policy response to banking problems, and the reform program that followed. It also evaluates the new financial structure and reforms at the Bank of Japan in light of the challenges facing the Japanese economy. These challenges range from conducting monetary policy in a zero-interest rate environment characterized by a "liquidity trap" to managing consolidation in the Japanese banking sector against the backdrop of increasing international competition.

Japan's New Economy

Author : Magnus Blomström
Publisher : OUP Oxford
ISBN 13 : 0191589799
Total Pages : 342 pages
Book Rating : 4.1/5 (915 download)

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Book Synopsis Japan's New Economy by : Magnus Blomström

Download or read book Japan's New Economy written by Magnus Blomström and published by OUP Oxford. This book was released on 2001-01-25 with total page 342 pages. Available in PDF, EPUB and Kindle. Book excerpt: Japan's economy stumbled in the 1990s. After four decades of rapid growth that transformed Japan into a wealthy country at the world's technological frontier, the last decade brought prolonged economic stagnation. The rapid run-up in asset prices in the late 1980s, followed by their collapse in the early 1990s, left a debt overhang that paralyzed the banking sector. Policy reforms were initially half-hearted, and businesses were slow to restructure as the global economy changed. The lagging economy has seemed impervious to aggressive fiscal stimulus measures and is still plagued by ongoing price deflation. 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 21st century. Yet Japan's economy is already changing. Driven by an aging population, rapid technological change, and increasing global competition, the country's public and private institutions are being slowly reshaped. This volume explores the forces that will drive structural and institutional change in three areas over the next decade: the macroeconomy, the organization of industry, and the global economic and political environment. Economists, demographers, and Japan specialists examine key aspects of the economy that will be transformed in coming years, including population and savings, the public pension system, labor markets, financial reforms, deregulation of service industries, productivity performance, foreign investment, trade, and the impact of an emerging China. The volume fills an important gap in the existing economic literature. While much has been written about Japan's pre-1990s institutions and economic performance, this volume is unique in its forward-looking orientation - trying to understand not only the institutional and structural changes that have already reshaped Japan in the 1990s, but to identify the critical trends and institutional changes that will mould Japan's new economy over the next decade.

The Japanese Big Bang as a Unilateral Action

Author : Kōichi Hamada
Publisher :
ISBN 13 :
Total Pages : 98 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis The Japanese Big Bang as a Unilateral Action by : Kōichi Hamada

Download or read book The Japanese Big Bang as a Unilateral Action written by Kōichi Hamada and published by . This book was released on 1998 with total page 98 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Japanese Resistance to American Financial Hegemony

Author : Fumihito Gotoh
Publisher : Routledge
ISBN 13 : 1000672816
Total Pages : 361 pages
Book Rating : 4.0/5 (6 download)

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Book Synopsis Japanese Resistance to American Financial Hegemony by : Fumihito Gotoh

Download or read book Japanese Resistance to American Financial Hegemony written by Fumihito Gotoh and published by Routledge. This book was released on 2019-10-01 with total page 361 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book investigates why the convergence of Japan’s bank-centered financial system to an American-style capital market-based model has lost steam since the mid-2000s, despite financial deregulation during the 1980s and 1990s. Examining the ideational conflict within Japanese elites between the market liberalization and anti-free market camps, it scrutinizes the American and Japanese credit rating agencies operating in Tokyo and explores the differences between the two major industrial associations, Keidanren and Doyukai, which have played a key role as "ideational platforms" for Japanese corporate society. The book emphasizes the concept of "systemic support", whose broadened definition incorporates dominant elites’ support and protection of subordinates in exchange for the latter’s obedience and loyalty. It argues that Japanese society’s anti-liberal, anti-free market norms centered on systemic support are a form of counter-hegemony, and this has resisted American financial hegemony, promoting international capital mobility and capital markets, and prevented capitalist dominance from severing long-term social ties such as management-labor cooperation and corporate group alliances. Yet this resistance has generated growing problems for Japan. With a focus on social norms, bureaucracy, credit rating agencies, industrial associations and corporate governance, this book will provide useful insights for scholars and students of international political economy, sociology, cultural studies, and business studies.

Structural Reform in Japan

Author : Eisuke Sakakibara
Publisher : Rowman & Littlefield
ISBN 13 : 9780815796268
Total Pages : 220 pages
Book Rating : 4.7/5 (962 download)

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Book Synopsis Structural Reform in Japan by : Eisuke Sakakibara

Download or read book Structural Reform in Japan written by Eisuke Sakakibara and published by Rowman & Littlefield. This book was released on 2003-12-22 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

A Little Book about the Big Bang

Author : Tony Rothman
Publisher : Harvard University Press
ISBN 13 : 0674251849
Total Pages : 241 pages
Book Rating : 4.6/5 (742 download)

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Book Synopsis A Little Book about the Big Bang by : Tony Rothman

Download or read book A Little Book about the Big Bang written by Tony Rothman and published by Harvard University Press. This book was released on 2022-03 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tony Rothman offers a primer on the science of the big bang and the questions we still can’t answer about the origins of the universe. Enlisting thoughtful analogies and a step-by-step approach, Rothman guides readers through dark matter, dark energy, quantum gravity, and other topics at—and beyond—the cutting edge of cosmology.

Japan's Financial Revolution and How American Firms are Profiting

Author : Stephen M. Harner
Publisher : Routledge
ISBN 13 : 1315291959
Total Pages : 304 pages
Book Rating : 4.3/5 (152 download)

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Book Synopsis Japan's Financial Revolution and How American Firms are Profiting by : Stephen M. Harner

Download or read book Japan's Financial Revolution and How American Firms are Profiting written by Stephen M. Harner and published by Routledge. This book was released on 2016-09-16 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the rapid deregulation and changing nature of Japan's financial marketplace as it emerges from its worst economic crisis since the end of the Second World War. The author focuses on how U.S. firms like Citibank, AIG, Merrill Lynch, GE Capital, Fidelity Investments, and American Express have made large investments and built strategic businesses in a market that was effectively closed to them only a few years ago. He also profiles Japan's major financial institutions, which are aggressively restructuring to defend their home turf from foreign competitors. Now that the economic crisis appears to be over, this exciting new book gives business students, scholars, and executives an in-depth analysis and understanding of the on-going transformation of the Japanese marketplace in banking, securities, insurance, asset management, mutual funds, and consumer credit.