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  • Book
  • Open Access
  • © 2022

The Future of Financial Systems in the Digital Age

Perspectives from Europe and Japan

  • This book is open access, which means that you have free and unlimited access

  • Provides profound but non-technical analyses of the future of financial systems in the digital age

  • Brings together contributions by leading scholars and experts

  • Offers Japanese and European perspectives

Part of the book series: Perspectives in Law, Business and Innovation (PLBI)

Buying options

Softcover Book USD 49.99
Price excludes VAT (USA)
Hardcover Book USD 59.99
Price excludes VAT (USA)

Table of contents (9 chapters)

  1. Front Matter

    Pages i-xxiv
  2. Financial Systems in the Digital Age: Perspectives from Europe and Japan

    • Markus Heckel, Franz Waldenberger
    Pages 1-18Open Access
  3. The Future of Japan’s Financial Market

    • Nobuyuki Kinoshita
    Pages 19-37Open Access
  4. Financial Digitalization and Regulatory Challenges for Japan

    • Kiyotaka Sasaki
    Pages 39-48Open Access
  5. Digital Currencies and the Future of Money

    • Hiromi Yamaoka
    Pages 49-73Open Access
  6. The Future of Payments in a DLT-Based European Economy: A Roadmap

    • Alexander Bechtel, Agata Ferreira, Jonas Gross, Philipp Sandner
    Pages 89-116Open Access
  7. High-Frequency Trading in Japan: A Unique Evolution

    • Takahide Kiuchi
    Pages 159-183Open Access
  8. Back Matter

    Pages 185-190

About this book

This book is open access, which means that you have free and unlimited access.

The increasing capacity of digital networks and computing power, together with the resulting connectivity and availability of “big data”, are impacting financial systems worldwide with rapidly advancing deep-learning algorithms and distributed ledger technologies. They transform the structure and performance of financial markets, the service proposition of financial products, the organization of payment systems, the business models of banks, insurance companies and other financial service providers, as well as the design of money supply regimes and central banking.

This book, The Future of Financial Systems in the Digital Age:  Perspectives from Europe and Japan, brings together leading scholars, policymakers, and regulators from Japan and Europe, all with a profound and long professional background in the field of finance, to analyze the digital transformation of the financial system. The authors analyze the impact of digitalization on the financial system from different perspectives such as transaction costs and with regard to specific topics like the potential of digital and blockchain-based currency systems, the role of algorithmic trading, obstacles in the use of cashless payments, the challenges of regulatory oversight, and the transformation of banking business models. The collection of chapters offers insights from Japanese and European discourses, approaches, and experiences on a topic otherwise dominated by studies about developments in the USA and China.

Keywords

  • Financial system
  • Digital transformation
  • Digital currencies
  • Cash-less payments
  • Algorithm-based trading
  • Blockchain technologies
  • Open Access

Editors and Affiliations

  • German Institute for Japanese Studies, Tokyo, Japan

    Markus Heckel, Franz Waldenberger

About the editors

Markus Heckel is Senior Research Fellow at the German Institute for Japanese Studies (DIJ) since November 2018 and holder of a Ph.D. in economics from the University of Duisburg-Essen. From 2012 to 2018, he worked in the Faculty of Economics and Business Administration at Goethe University Frankfurt. His main research interests include macroeconomics, monetary policy, and the political economy of central banks. His recent publications include Unconventional Monetary Policy Through Open Market Operations: A Principal Component Analysis (co-authored with Kiyohiko G. Nishimura) and Employees Who Do Not Know Their Labour Contract Term and the Implications for Working Conditions: Evidence from Japanese and Spanish Microdata (Japan and the World Economy, 2019, co-authored with Yuji Genda and Ryo Kambayashi). 

Franz Waldenberger is Director, German Institute for Japanese Studies. He is on leave from Munich University, where he holds a professorship for Japanese Economy. His research focuses on the Japanese economy, corporate governance, and international management. He is Editor in Chief of the international peer-reviewed journal Contemporary Japan. His recent publications include The Digital Transformation. Implications for the Social Sciences and Humanities, DIJ, 2020 (co-edited with Harald Kümmerle), and Governance, Risk, and Financial Impact of Mega Disasters: Lessons from Japan, Springer 2019 (co-edited with Akiko Kamesaka).


Bibliographic Information

Buying options

Softcover Book USD 49.99
Price excludes VAT (USA)
Hardcover Book USD 59.99
Price excludes VAT (USA)