The Development, Operation and Control of the Japanese Foreign Exchange Market PDF Download

Author: Peter Roope
Publisher:
ISBN:
Category : Australia
Languages : en
Pages : 92

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Author: Shinji Takagi
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 46

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Book Description
This paper reviews the experience of Japan with a restrictive trade and payments system during the early part of the post-World War II period, as a case study of how the fixed exchange rate system was managed in practice under the Bretton Woods system. Specifically, it presents a summary of how Japan's system of foreign exchange and trade control operated in the early 1950s, how effectively it was used as a tool of macroeconomic policy, and how it was liberalized from the late 1950s into the early 1960s.

Author: Beate Reszat
Publisher: Routledge
ISBN: 113476619X
Category : Business & Economics
Languages : en
Pages : 247

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Book Description
In recent years, Japan's financial market has seen dramatic changes, in particular the explosive growth of currency trading and the increasing international role of the yen. This book gives a comprehensive overview of this activity. This work is the first non-Japanese language title to examine the prolific rise of Japan's foreign currency exchange market, its idiosyncracies, and its future role in the global economy. It is vital reading for economists and students of Japan-related subjects.

Author: Shinji Takagi
Publisher: OUP Oxford
ISBN: 0191024066
Category : Business & Economics
Languages : en
Pages : 360

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Book Description
Conquering the Fear of Freedom presents an analytical review of Japanese exchange rate policy from the end of World War II to the present. It examines how authorities, starting with the imposition of draconian controls over all international financial flows, moved toward eliminating virtually all state interference regulating foreign exchange transactions, including official intervention in the foreign exchange market. It describes how policy and institutional frameworks evolved, explains their domestic and international contexts, and assesses the impacts and consequences of policy actions. Following successful exchange rate-based stabilization in the early 1950s, Japan entered the world trading system with an overvalued currency, which helped perpetuate exchange and capital controls. As the culture of administrative control became ingrained, Japan took a decidedly gradualist approach to establishing current and capital account convertibility. The protracted capital account liberalization, coupled with slow domestic financial liberalization, created large swings in the yen's exchange rate when it was floated in the 1970s. Politicization by major trading partners of Japan's large bilateral trade surplus pressured authorities to subordinate domestic stability to external objectives. The ultimate outcome was costly: from the late 1980s, Japan successively experienced asset price inflation, a banking crisis, and economic stagnation. The book concludes by arguing that the shrinking trade surplus against the background of profound structural changes, the rise of China that has diminished the political intensity of any remaining bilateral economic issues, and the world's sympathy over two decades of deflation have given Japan, at least for now, the freedom to use macroeconomic policies for domestic purposes.

Author: Organisation for Economic Co-operation and Development. Committee for Invisible Transactions
Publisher:
ISBN:
Category : Investments, Foreign
Languages : en
Pages : 186

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Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1451948476
Category : Business & Economics
Languages : en
Pages : 44

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Book Description
The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, including balance of payments, monetary and fiscal issues, global liquidity, and national and international economic developments.

Author: Junichi Ujiie
Publisher: Elsevier
ISBN: 1855738759
Category : Business & Economics
Languages : en
Pages : 496

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Book Description
The first edition of Japanese Financial Markets established itself as a standard work on one of the most important financial centres in the world. Since then there have been substantial changes, most notably a serious financial crisis and major subsequent reforms of the financial system. Written by leading analysts from the prestigious Nomura Group, this authoritative second edition explains these changes and their consequences for the current structure and operation of the country's financial markets. The book is arranged in four main sections: Part one provides an overview of the recent performance of Japan's financial markets, the crisis in the 1990s, government reforms and the subsequent 'Big Bang' in the country's financial system. Part two looks at the range of participants in the market, from individual investors, public sector and corporate pension funds to investment trusts, government bond issues and the equity market. This section of the book also discusses cross-border money flows, monetary policy and the regulatory framework. Part three discusses the markets themselves, covering the money and bond markets, trading in equities and securities and the venture capital market. Part four considers current problems and likely future developments in the financial system. This major new edition of Japanese Financial Markets is essential reading for fund managers, institutional investors, financial analysts and all those concerned with one of the world's most important financial markets. Comprehensively updated new edition of a standard work Covers all aspects of Japanese financial markets in detail Written by a distinguished banker with unrivalled insight into Japanese financial markets' workings

Author: Jenny Corbett
Publisher:
ISBN:
Category : Developing countries
Languages : en
Pages : 44

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Author: Keith Jackson Hancock
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 646

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Book Description
Research report, comparison of labour relations and labour market trends in Australia and Japan - discusses occupational structure, wage structure, wage determination, trade unionization, labour disputes, etc.; evaluates the impact of trade policy on the labour market; identifies the relative share of wages in national income, the role of woman workers and sources of unemployment problems. Diagrams, references, statistical tables.

Author: Michèle Schmiegelow
Publisher: Routledge
ISBN: 131723510X
Category : Business & Economics
Languages : en
Pages : 242

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Book Description
Originally published in 1986, after a period of global changes and financial crisis in the majority of industrialised countries, this book explores how Japan’s economy seemed to maintain its success. This study provides an overview of the Japanese case and the main schools of thought that arose from it by dealing with export-related issues such as reforms in foreign exchange and trade control laws and the internationalisation of Japan’s financial markets as well as more domestic issues such as employment and wages. This title will be of interest to students of Asian Studies and Economics.