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Governance, Risk and Financial Impact of Mega Disasters

Lessons from Japan

  • Book
  • © 2019

Overview

  • Offers an up-to-date analyses of the financial impact of mega disasters, using Japan as an example
  • Combines theoretical reasoning and modeling with empirical findings from recent disasters
  • Provides a detailed analyses of impacts on capital markets, government finance, debt positions by households and businesses, and investor behavior

Part of the book series: Economics, Law, and Institutions in Asia Pacific (ELIAP)

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About this book

This book addresses researchers, practitioners, and policy makers interested in understanding the financial implications of mega-disaster risks as well as in seeking possible solutions with regard to governance, the allocation of financial risk, and resilience. The first part of this book takes the example of Japan and studies the impact of mega earthquakes on government finance, debt positions of private household and businesses, capital markets, and investor behavior by way of economic modeling as well as case studies from recent major disasters. In Japan, the probability of a mega earthquake hitting dense agglomerations is very high. Like other large-scale natural disasters, such events carry systemic risks, i.e., they can trigger disruptions endangering the stability of the social, economic, and political order. The second part looks at the experience of the Japanese government as a provider of disaster-risk finance and an active partner in international collaboration. It concludeswith an analysis of the general characteristics of systemic risk and approaches to improve resilience. 

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Keywords

Table of contents (6 chapters)

Editors and Affiliations

  • School of Business Administration, Financial Markets Research Center, Aoyama Gakuin University, Tokyo, Japan

    Akiko Kamesaka

  • German Institute for Japanese Studies, Tokyo, Japan

    Franz Waldenberger

About the editors

Akiko Kamesaka is Professor at Aoyama Gakuin University in Tokyo Japan, School of Business Administration. She is also the director of the Financial Markets Research Center, Aoyama Gakuin University, and she was a visiting research fellow at the Economic and Social Research Institute, Cabinet Office, Government of Japan. She has worked as an accountant at a large accounting firm in Tokyo, and has studied at the University of Tokyo graduate school of economics. Her interests include analysis on well-being, worldview, and investor behavior, and she has many publications in economics and finance. She received the Ibbotson Associates Japan Research Award at the Asia-Pacific Finance Association / Pacific-Basin Financial Management Society / Financial Management Association joint conference for her research on investor behavior in Japan. She was invited to speak at a panel on subjective well-being and sustainability at the 4th OECD World Forum, and has presented her work at many other large conferences and meetings. She has been conducting investor surveys in Japan with Professor Robert J. Shiller, who was awarded the Nobel Prize in Economic Sciences in 2013.

Franz Waldenberger obtained his PhD in economics from the University of Cologne. After positions with the German Monopolies Commission and the German Institute of Japanese Studies (DIJ), he became Professor for Japanese Economy at Munich University. He has been visiting professor at various Japanese universities, including the University of Tokyo, Tsukuba University, Hitotsubashi University and Osaka City University. He serves as editor in chief of Contemporary Japan and as member of the editorial board of Asian Business & Management. Presently, he is on leave from Munich University to head the DIJ in Tokyo. His research focuses on the Japanese economy and corporate governance. Professor Waldenberger is member of the German Japan Forum and member of the board of the Japanese-German Business Association (DJW). 

Bibliographic Information

  • Book Title: Governance, Risk and Financial Impact of Mega Disasters

  • Book Subtitle: Lessons from Japan

  • Editors: Akiko Kamesaka, Franz Waldenberger

  • Series Title: Economics, Law, and Institutions in Asia Pacific

  • DOI: https://doi.org/10.1007/978-981-13-9005-0

  • Publisher: Springer Singapore

  • eBook Packages: Economics and Finance, Economics and Finance (R0)

  • Copyright Information: The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Singapore Pte Ltd. 2019

  • Hardcover ISBN: 978-981-13-9004-3Published: 03 December 2019

  • eBook ISBN: 978-981-13-9005-0Published: 23 November 2019

  • Series ISSN: 2199-8620

  • Series E-ISSN: 2199-8639

  • Edition Number: 1

  • Number of Pages: XI, 114

  • Number of Illustrations: 6 b/w illustrations, 29 illustrations in colour

  • Topics: Insurance, Risk Management, Capital Markets

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