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The Dynamics of Financial Market Reform in Japan, 1975–95

  • Jennifer Holt Dwyer
Part of the International Political Economy Series book series (IPES)

Abstract

The seeds of financial market reform in Japan were sown in the 1970s. At that time virtually all interest rates were regulated or managed. Numerous measures restricted capital flows both into and out of Japan, as well as the domestic activities of foreign financial institutions. Myriad laws and regulatory practices defining the allowable business activities of specialised financial institutions produced an extremely compartmentalised financial market. Taken as a whole, the regulatory structure supported a domestic financial market with very limited price-based, cross-sectoral or international competition.

Keywords

Financial Market Financial Institution Market Actor Liberal Democratic Party Interbank Market 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Notes

  1. 20.
    T. Cargill and S. Royama (1988), The Transition of Finance in Japan and the United States (Stanford, CA: Stanford University Press), pp. 152–3.Google Scholar
  2. 22.
    F. Rosenbluth (1989) provides a detailed account of these negotiations in chapter 4 of Financial Politics in Contemporary Japan (Ithaca, NY: Cornell University Press).Google Scholar

Copyright information

© Palgrave Macmillan, a division of Macmillan Publishers Limited 1997

Authors and Affiliations

  • Jennifer Holt Dwyer

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