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Author: Akiko Kamesaka
Publisher: Springer Nature
ISBN: 9811390053
Category : Business & Economics
Languages : en
Pages : 124
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Book Description
This book addresses researchers, practitioners, and policy makers interested in understanding the financial implications of mega-disaster risks as well as in seeking possible solutions with regard to governance, the allocation of financial risk, and resilience. The first part of this book takes the example of Japan and studies the impact of mega earthquakes on government finance, debt positions of private household and businesses, capital markets, and investor behavior by way of economic modeling as well as case studies from recent major disasters. In Japan, the probability of a mega earthquake hitting dense agglomerations is very high. Like other large-scale natural disasters, such events carry systemic risks, i.e., they can trigger disruptions endangering the stability of the social, economic, and political order. The second part looks at the experience of the Japanese government as a provider of disaster-risk finance and an active partner in international collaboration. It concludes with an analysis of the general characteristics of systemic risk and approaches to improve resilience.
Author: Akiko Kamesaka
Publisher: Springer Nature
ISBN: 9811390053
Category : Business & Economics
Languages : en
Pages : 124
Get Book Here
Book Description
This book addresses researchers, practitioners, and policy makers interested in understanding the financial implications of mega-disaster risks as well as in seeking possible solutions with regard to governance, the allocation of financial risk, and resilience. The first part of this book takes the example of Japan and studies the impact of mega earthquakes on government finance, debt positions of private household and businesses, capital markets, and investor behavior by way of economic modeling as well as case studies from recent major disasters. In Japan, the probability of a mega earthquake hitting dense agglomerations is very high. Like other large-scale natural disasters, such events carry systemic risks, i.e., they can trigger disruptions endangering the stability of the social, economic, and political order. The second part looks at the experience of the Japanese government as a provider of disaster-risk finance and an active partner in international collaboration. It concludes with an analysis of the general characteristics of systemic risk and approaches to improve resilience.
Author: Junichi Ujiie
Publisher: McGraw Hill Professional
ISBN: 9781855735965
Category : Business & Economics
Languages : en
Pages : 508
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Book Description
Second edition of the clasiic text on Japanese financial amrkets incorporating all the latest changes.
Author: Fumihito Gotoh
Publisher: Routledge
ISBN: 1000672816
Category : Political Science
Languages : en
Pages : 329
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Book Description
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.
Author: Helmut Dietl
Publisher: Routledge
ISBN: 113469394X
Category : Business & Economics
Languages : en
Pages : 185
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Book Description
Why did financial keiretsu develop in Japan, but not in Germany and the United States? Why is bank intermediation more dominant in Germany and Japan than in the United States? What are the advantages and disadvantages of each system? Capital Markets and Corporate Governance in Japan, Germany and the United States answers these and related questions
Author: Mr. Murtaza H. Syed
Publisher: International Monetary Fund
ISBN: 1455214965
Category : Business & Economics
Languages : en
Pages : 23
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Book Description
As labor input in Japan shrinks with population aging, capital accumulation and productivity gains will drive growth over the medium-term. At the same time, a changing global landscape calls for a shift in export-oriented investment toward new markets and a new generation of products, as well as increased investment by domestically-oriented firms. What policies could be adopted to help firms adjust to the imperatives of the post-crisis global economy and boost medium-term growth? Using disaggregated data, this paper investigates the determinants of investment and R&D spending by Japanese firms. The results suggest that policies could usefully focus on four areas. First, raising the return on investment, including through reforms to the tax code. Second, decreasing uncertainty through improved risk management by firms and by bolstering the business climate. Third, improving SME access to finance, notably by encouraging venture capital investment in innovative areas and more risk-based lending. And fourth, reducing excess leverage and supporting corporate restructuring to enable new investments to flourish.
Author: Maurice Obstfeld
Publisher: Cambridge University Press
ISBN: 9780521633178
Category : Business & Economics
Languages : en
Pages : 382
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Book Description
Publisher Description
Author: Asian Development Bank
Publisher: Asian Development Bank
ISBN: 9292575023
Category : Business & Economics
Languages : en
Pages : 193
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Book Description
ASEAN+3 Bond Market Guide is a comprehensive explanation of the region’s bond markets. It provides various information such as the history, legal and regulatory framework, specific characteristics of the market, trading and transaction including settlement systems, and other relevant information. Bond Market Guide 2016 for Japan is an outcome of the strong support and kind contributions of ASEAN+3 Bond Market Forum members and experts, particularly from Japan. The report should be recognized as a collective good to support bond market development among ASEAN+3 members.
Author: Ryozo Himino
Publisher: Springer Nature
ISBN: 9811595984
Category : Business & Economics
Languages : en
Pages : 127
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Book Description
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.
Author: Daniel I. Okimoto
Publisher: Stanford University Press
ISBN: 0804718121
Category : Technology & Engineering
Languages : en
Pages : 572
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Book Description
Over the postwar period, the scope of industrial policy has expanded markedly. Governments in virtually all advanced industrial countries have extended the visible hand of the state in assisting specific industries or individual companies. Although greater government involvement in some countries has lessened the dislocations brought about by slower growth rates, industrial policy has also caused or exacerbated a number of other problems, including distortions in the allocation of capital and labor and trade conflicts that undermine the postwar system of free trade. Only Japan is widely cited as an unambiguous success story. The effectiveness of its industrial policy is revealed in the successful emergence of one government-targeted industry after another as world-class competitors: for example, steel, automobiles, and semiconductors. Foreign countries fear that a number of still-developing industrieslike biotechnology, telecommunications, and information processingwill follow the same pattern. But is industrial policy the main reason for Japan's economic achievements? The author asserts that the reasons for Japan's spectacular track record go well beyond the realm of industrial policy into broad areas of the political economy as a whole. In this book, the author attempts to identify the reasons for the comparative effectiveness of Japanese industrial policy for high technology by answering the following questions: What is the attitude of Japanese leaders toward state intervention in the marketplace? What is the Ministry of International Trade and Industry (MITI) doing to promote the development of high technology? How has the organization of the private sector contributed to MITI's capacity to intervene effectively? What elements in Japan's political system help insulate industrial policymaking from the demands of interest-group politics?
Author: Nicholas Stern
Publisher: MIT Press
ISBN: 0262264749
Category : Business & Economics
Languages : en
Pages : 501
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Book Description
Despite significant gains in promoting economic growth and living conditions (or "human progress") globally over the last twenty-five years, much of the developing world remains plagued by poverty and its attendant problems, including high rates of child mortality, illiteracy, environmental degradation, and war. In Growth and Empowerment, Nicholas Stern, Jean-Jacques Dethier, and F. Halsey Rogers propose a new strategy for development. Drawing on many years of work in development economics—in academia, in the field, and at international institutions such as the World Bank—the authors base their strategy on two interrelated approaches: building a climate that encourages investment and growth and at the same time empowering poor people to participate in that growth. This plan differs from other models for development, including the dogmatic approach of market fundamentalism popular in the 1980s and 1990s. Stern, Dethier, and Rogers see economic development as a dynamic process of continuous change in which entrepreneurship, innovation, flexibility, and mobility are crucial components and the idea of empowerment, as both a goal and a driver of development, is central. The book points to the unique opportunity today—after 50 years of successes and failures, and with a growing body of analytical work to draw on—to pursue new development strategies in both research and action.
