Informality and Monetary Policy in Japan: The Political Economy of Bank Performance

Informality and Monetary Policy in Japan: The Political Economy of Bank Performance

by Adrian van Rixtel, Adrian Van Rixtel
     
 

ISBN-10: 0521039444

ISBN-13: 9780521039444

Pub. Date: 08/18/2007

Publisher: Cambridge University Press

The success as well as the recent misfortunes of the post-war Japanese economy has been one of the most debated points in economics. Many explanations focus on cultural and institutional factors, and in particular the role of "Informality" in networks organizing business activity and government policy. This book provides the first quantitative and qualitative

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Overview

The success as well as the recent misfortunes of the post-war Japanese economy has been one of the most debated points in economics. Many explanations focus on cultural and institutional factors, and in particular the role of "Informality" in networks organizing business activity and government policy. This book provides the first quantitative and qualitative assessment of Informality in the formation of Japanese monetary policy. The author spent two years at the Institute for Monetary and Economic Studies at the Bank of Japan and the Japanese Ministry of Finance and offers a unique "insider-outsider" perspective.

Product Details

ISBN-13:
9780521039444
Publisher:
Cambridge University Press
Publication date:
08/18/2007
Pages:
420
Product dimensions:
5.98(w) x 8.98(h) x 0.94(d)

Table of Contents

List of figures
List of tables
Acknowledgements
1Introduction1
Pt. ITheory9
2The political economy and economic system of Japan: A survey of literature, conflict and confusion11
3Informal aspects of Japanese economic policy33
4Informality and monetary policy: an operational framework77
Pt. IIThe institutions and their policies89
5Informality, monetary authorities and monetary policy: the pre-1998 reform regime91
6Informality, banking crisis and financial reform: 1998 and beyond165
Pt. IIIEmpirical evidence253
7Amakudari in the private banking industry: an empirical investigation255
8Amakudari and the performance of Japanese banks297
9Conclusion: Informality, monetary policy and bank performance - lessons from the Japanese experience331
Bibliography359
Index392

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