{"product_id":"9781461369776","title":"Crisis and Change in the Japanese Financial System","description":"\u003ch1\u003eCrisis and Change in the Japanese Financial System\u003c\/h1\u003e \u003ch2\u003eHoshi, Takeo; Patrick, Hugh T.\u003c\/h2\u003e \u003cp\u003eAt the start of the twenty-first century, the Japanese  financial system is undergoing a major transformation. This process is  spurred by a sense of crisis. Dominated by large institutions, the  Japanese banking system has suffered from serious problems with  non-performing loans since the early 1990s, when the Japanese stock  market and urban real estate market both crashed. Delays in responding  to these twin asset bubbles, by both regulatory authorities and the  banks themselves, made matters worse and led to a banking crisis in  late 1997 and early 1998. Not anticipating this setback, in late 1996  the Japanese government inaugurated its Big Bang of comprehensive  financial deregulation designed to complete the process of creating  `free, fair, and open financial markets'. Beginning in late 1998 and  early 1999 the government finally embarked on a major rehabilitation  of the Japanese banking system, including making available some Yen 60  trillion (approximately USD 500 billion) of government funds to  recapitalize fifteen major banks, adequately fund the deposit  insurance program, and write off the bad loans of nationalized or  bankrupted banks. One result of this reform process is that the  Ministry of Finance (MOF), which dominated Japanese financial system  policy for most of the post-war period, has been stripped of most of  its former regulatory powers. \u003cbr\u003e  The purpose of this book is to describe, analyze, and evaluate the  process that is transforming the Japanese financial system. The  chapters address various issues relating to the transition of the  Japanese financial system from a bank-centered and relationship-based  system to a competitive market-based system. Questions taken up  include: Why did Japanese banks get into such serious trouble? Why has  the MOF lost its immense power? How will the Big Bang's financial  deregulation further change the Japanese financial system, including  the huge government financial institutions and postal savings system?  What are some of the broader implications of this transition? \u003cbr\u003e  The book is divided into three parts: Part I considers the origins of  Japan's banking crisis; Part II focuses on five particularly important  areas of major actual and potential changes; Part III addresses the  effects of the Big Bang, including its potential systemic  externalities. Taken together, this book offers an unusually  up-to-date, comprehensive and thorough appraisal and evaluation of the  profound changes occurring in Japan's financial system.\u003c\/p\u003e \u003ch3\u003eDetails\u003c\/h3\u003e \u003cp\u003ePublished by: Springer\u003c\/p\u003e \u003cp\u003ePublication Date: 2012-10-04\u003c\/p\u003e \u003cp\u003eFormat: Paperback\u003c\/p\u003e \u003cp\u003e ISBN-10: 9781461369776\u003c\/p\u003e \u003cp\u003eISBN-13: 9781461369776\u003c\/p\u003e \u003cp\u003eDOI: 10.1007\/978-1-4615-4395-4\u003c\/p\u003e \u003cp\u003eDimensions: 235cm x155cm\u003c\/p\u003e \u003cp\u003ePages: 321\u003c\/p\u003e ","brand":"Springer","offers":[{"title":"Default Title","offer_id":44359047053452,"sku":"9781461369776","price":197.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0710\/9545\/1788\/files\/9781461369776.jpg?v=1755100481","url":"https:\/\/lateknightbooks.com\/products\/9781461369776","provider":"Late Knight Books and Services, LLC","version":"1.0","type":"link"}