OXFORD UNIVERSITY PRESS

Finance, Governance, and Competitiveness in Japan

ISBN : 9780198297215

Price(incl.tax): 
¥27,841
Author: 
Masahiko Aoki; Gary Saxonhouse
Pages
298 Pages
Format
Hardcover
Size
163 x 244 mm
Pub date
Mar 2000
Series
Japan Business and Economics Series
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For much of the past half-century, Japan's economic success has stimulated the interest of scholars from around the world. In the last decade, and particularly in the last two years, however, it is Japan's economic difficulties which have attracted the most attention. The very institutions whose efficacy was earlier praised are now often criticised as being the core of Japan's economic problems. This volume brings together the research of many of the world's leading specialists on the Japanese economy to assess how Japan's distinctive economic institutions have operated in the past and how their evolution in the face of changing domestic and international circumstance s will shape the prospects for the Japanese economy in the 21st century. Particular attention is paid to the evolution of Japan's financial system and the changing character of Japanese firm governance, and to the changing role that government and the legal system play in Japan's economy. The authors find among many other important conclusions that far-reaching regulatory reform will be needed so that a new rules-based system allowing greater scope for dispersed private initiative can emerge to restructure and regrow the Japanese economy.

Index: 

Introduction
Chapter 1: Strategies for Overcoming Japan's Financial Crisis
PART I: CORPORATE GOVERNANCE AND THE EVOLUTION OF JAPAN'S FINANCIAL SYSTEM
Chapter 2: Relational Financing as an Institution and its Viability under Competition
Chapter 3: The Fall of the Taisho Economic System
Chapter 4: Main Banks, Creditor Concentration, and the Resolution of Financial Distress in Japan
Chapter 5: The Main Bank System and Corporate Investment: an Empirical Assessment
Comment on Hayashi
Chapter 6: Bank-owned Security Subsidies in Japan: Evidence after the 1992 Financial System Reform
Chapter 7: Credit Ratings and Spreads in the Samurai Bond Market
Chapter 8: Japan's Banking Crisis in International Perspective
PART II: GOVERNMENT, THE LEGAL SYSTEM, AND THE STRUCTURE AND OPERATION OF JAPANESE ECONOMY
Chapter 9: Explaining the Low Litigation Rate in Japan
Comment on Hamada
Chapter 10: Rethinking Administrative Guidance
Chapter 11: R & D Consortia, News, and Japanese High Technology PolicyDSOptoelectronics in Japan
Chapter 12: The Sources of Industrial Leadership
PART III: FINALE
Chapter 13: The Development of Studies of the Japanese Economy in the United States

About the author: 

Masahiko Aoki, Stanford University; The late Gary R. Saxonhouse, University of Michigan

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