Japan In The International Financial System (studies In The Modern Japanese Economy)

Japan experienced a remarkable growth in international finance, through a series of liberalization measures in the 1980s. However, her position in the global financial system is still limited, as the reserve currency share of yen illustrates. Why does such a contrast exist? Historical comparison with Britain and the United States as well as data provide a key to anwer this question. Front Matter....Pages i-xviii The Bretton Woods System as a Gold Exchange Standard....Pages 1-35 Japan’s Experiences under the Bretton Woods System....Pages 36-61 Removing Capital Controls: The Japanese Case....Pages 62-89 Internationalization of Japanese Banking....Pages 90-117 The Internationalization of the Yen, and Key Currency Questions....Pages 118-150 Indebtedness and Hegemony: International Financial Relations after the Oil Crises....Pages 151-168 Back Matter....Pages 169-186 Japan experienced a remarkable growth in international finance, through a series of liberalization measures in the 1980s. However, her position in the global financial system is still limited, as the reserve currency share of yen illustrates. Why does such a contrast exist? Historical comparison with Britain and the United States as well as extensive data provide a key to answer the question.