03780nam 22006014a 450 991082058180332120200520144314.00-262-26987-21-4237-3071-2(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 Ito1st ed.Cambridge, Mass. MIT Pressc2000viii, 196 p. illBibliographic Level Mode of Issuance: Monograph0-262-03285-6 Includes bibliographical references (p. [183]-189) and index.Financial Policy and Central Banking in Japan -- Contents -- Preface -- Introduction -- The NCC's? Unprecedented Economic and Financial Distress -- The New Financial Supervision and Regulatory Framework -- Inflation Targetingx Liquidity Trapsx and the New Bank of Japan -- Challenges Facing Financial Policy and Central Banking in Japan -- References -- 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, CentralJapanFinanceBanks and banking, Central332.1/1/0952Cargill Thomas F115339Hutchison Michael M122526Ito Takatoshi1950-116437MiAaPQMiAaPQMiAaPQBOOK9910820581803321Financial policy and central banking in Japan4187747UNINA