03492oam 2200601Ma 450 991077739470332120190503073343.00-262-26987-21-4237-3071-2(CKB)1000000000002963(SSID)ssj0000155053(PQKBManifestationID)11158446(PQKBTitleCode)TC0000155053(PQKBWorkID)10098878(PQKB)10782598(MiAaPQ)EBC3338434(OCoLC)228039737(OCoLC)62148103(OCoLC)648371066(OCoLC)697596466(OCoLC)880329047(OCoLC)888626585(OCoLC)923251582(OCoLC)961652318(OCoLC)962619144(OCoLC)988518298(OCoLC)991985406(OCoLC)1037442238(OCoLC)1037901168(OCoLC)1038624091(OCoLC)1045451290(OCoLC)1055367058(OCoLC)1081287092(OCoLC)1083554211(OCoLC-P)228039737(MaCbMITP)3000(Au-PeEL)EBL3338434(CaPaEBR)ebr2001031(OCoLC)923251582(EXLCZ)99100000000000296320000518d2000 uy 0engurcn|||||||||txtccrFinancial policy and central banking in Japan /Thomas F. Cargill, Michael M. Hutchison, Takatoshi ItoCambridge, Mass. MIT Press©2000viii, 196 p. illBibliographic Level Mode of Issuance: Monograph0-262-03285-6 Includes bibliographical references (p. [183]-189) and index.Annotation 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.FinanceJapanBanks and banking, CentralJapanECONOMICS/FinanceECONOMICS/International EconomicsECONOMICS/MacroeconomicsFinanceBanks and banking, Central332.1/1/0952Cargill Thomas F115339Hutchison Michael M122526ItÖo Takatoshi1950-1561948OCoLC-POCoLC-PBOOK9910777394703321Financial policy and central banking in Japan3829104UNINA