Financial Policy and Central Banking in Japan

BOOK - A new book by T. Cargill, M. Hutchison and T. Ito analyses 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. The decade ended with what is called the Big Bang financial market

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