The Political Economy of Japanese Financial Markets: Myths Versus Reality (International Political Economy Series)

The authors examine various aspects of Japanese financial markets. This analysis is interspersed with the relevant institutional/historical background on Japanese financial markets necessary for the non-specialist. Principal chapters include: an institutional overview; a chapter on the comparative costs of capital (both internationally and among Japanese firms); causes and implications of the high degree of financial intermediation in Japan; and an invaluable analysis of the most recent trends in the Japanese/Asian financial markets. In this groundbreaking analysis of the most recent trends in the Japanese financial market, the analysis is interspersed with the relevant institutional/historical background on Japanese financial markets necessary for the non-specialist. Principal chapters include an institutional overview, a chapter on comparative cost of capital, causes and implications of the high degree of financial intermediation in Japan, and recent trends in deregulation.