The authors examine various aspects of Japanese financial markets. This analysis is interspersed with the relevant institutional/historical background on Japanese financial markets necessary for the non-specialist. Principal chapters include: an institutional overview, a chapter on comparative cost of capital (both internationally and among Japanese firms); causes and implications of the high degree of financial intermediation in Japan and an invaluable analysis of the most recent trends in the Japanese/Asian financial markets.

RICHARD BEASON is Associate Professor in the Faculty of Business, the University of Alberta, Canada

JASON JAMES is a strategist at James Cabel, Tokyo.