Japan In The International Financial System

Author : T. Iwami
Publisher : Springer
Page : 186 pages
File Size : 50,8 Mb
Release : 1995-10-27
Category : Business & Economics
ISBN : 9780230372634

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Japan in the International Financial System by T. Iwami Pdf

Japan experienced a remarkable growth in international finance, through a series of liberalization measures in the 1980s. However, her position in the global financial system is still limited, as the reserve currency share of yen illustrates. Why does such a contrast exist? Historical comparison with Britain and the United States as well as extensive data provide a key to answer the question.

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
Page : 109 pages
File Size : 55,6 Mb
Release : 2017-07-31
Category : Business & Economics
ISBN : 9781484313435

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Japan by International Monetary Fund. Monetary and Capital Markets Department Pdf

This paper assesses the stability of the financial system in Japan. Although the financial system has remained stable, the low profitability environment is creating new risks, and pressures are likely to persist. The search for yield among banks has led some to expand their overseas activities, and more generally to a growth in real estate lending and foreign securities investments. Efforts to increase risk-based lending to small-and medium-sized enterprises are welcome, but many banks still need to develop commensurate credit assessment capacities. Stress tests suggest that the banking sector remains broadly sound, although market risks are increasing, and there are some vulnerabilities among regional banks.

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 36 pages
File Size : 55,9 Mb
Release : 2012-09-07
Category : Business & Economics
ISBN : 9781475510447

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Japan by International Monetary Fund Pdf

This Spillover Report analyses the potential channels of financial system spillovers in Japan that policymakers should keep in mind. The report also highlights some of the potential challenges faced by Japanese financial institutions in managing risks developed owing to overseas exposure. The Executive Board acclaims the importance of an institutional and regulatory framework in managing spillover channels. The report is a guideline as to how Japan developed to win its position in the world.

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
Page : 84 pages
File Size : 51,7 Mb
Release : 2024-05-13
Category : Business & Economics
ISBN : 9798400273384

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Japan by International Monetary Fund. Monetary and Capital Markets Department Pdf

Japan’s large and globally well-integrated financial system has remained resilient through a series of shocks, including the COVID-19 pandemic, aided by strong policy support and improved policy frameworks since the 2017 Financial Sector Assessment Program (FSAP). The financial system is, however, at a critical juncture amid an evolving macroeconomic environment. After years of deflationary concerns and ultralow interest rates, sustained inflationary pressures have emerged, leading the Bank of Japan to end its negative interest rate policy and yield curve control. Key risks to macrofinancial stability at present stem from the sizable security holdings of financial institutions under mark-to-market accounting, some banks’ notable foreign currency (FX) exposures, and signs of overheating in parts of the real estate markets. These challenges come atop several structural transformations stemming from climate change, rapid digitalization, and an aging population.

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
Page : 57 pages
File Size : 49,9 Mb
Release : 2017-09-18
Category : Social Science
ISBN : 9781484319741

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Japan by International Monetary Fund. Monetary and Capital Markets Department Pdf

This Technical Note analyzes and quantifies the effect of aging in Japan—both at the national and regional levels—on the nature of financial intermediation. Mounting demographic headwinds constitute a major challenge for regional financial institutions in Japan. According to prefectural population projections and econometric estimates, the impact from demographic headwinds is likely to intensify significantly over the next two decades. Financial sector policies should aim to address the constraints to financial access by further promoting risk-based lending and asset-based lending. Banks should continue to be encouraged to build capacity for risk assessment to do more risk-based lending.

Author : United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on Financial Institutions Supervision, Regulation and Insurance,United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. International Competitiveness of United States Financial Institutions Task Force
Publisher : Unknown
Page : 152 pages
File Size : 44,7 Mb
Release : 1990
Category : Banks and banking
ISBN : PSU:000017415958

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Examine Japanese Financial System and Its Affect [sic] on Ability of U.S. Firms to Compete by United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on Financial Institutions Supervision, Regulation and Insurance,United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. International Competitiveness of United States Financial Institutions Task Force Pdf

Author : Alexis Stenfors,Jan Toporowski
Publisher : Routledge
Page : 184 pages
File Size : 47,5 Mb
Release : 2020-07-15
Category : Business & Economics
ISBN : 9780429627972

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Unconventional Monetary Policy and Financial Stability by Alexis Stenfors,Jan Toporowski Pdf

Since the financial crisis of 2008-09, central bankers around the world have been forced to abandon conventional monetary policy tools in favour of unconventional policies such as quantitative easing, forward guidance, lowering the interest rate paid on bank reserves into negative territory, and pushing up prices of government bonds. Having faced a crisis in its banking sector nearly a decade earlier, Japan was a pioneer in the use of many of these tools. Unconventional Monetary Policy and Financial Stability critically assesses the measures used by Japan and examines what they have meant for the theory and practice of economic policy. The book shows how in practice unconventional monetary policy has worked through its impact on the financial markets. The text aims to generate an understanding of why such measures were introduced and how the Japanese system has subsequently changed regarding aspects such as governance and corporate balance sheets. It provides a comprehensive study of developments in Japanese money markets with the intent to understand the impact of policy on the debt structures that appear to have caused Japan’s deflation. The topics covered range from central bank communication and policymaking to international financial markets and bank balance sheets. This text is of great interest to students and scholars of banking, international finance, financial markets, political economy, and the Japanese economy.

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 38 pages
File Size : 43,6 Mb
Release : 2012-08-10
Category : Business & Economics
ISBN : 9781475506433

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Japan by International Monetary Fund Pdf

The report focuses on the role played by financial market infrastructures (FMIs) in maintaining and promoting financial stability in Japan. FMIs are important tools that contribute to the Japanese financial sector, especially in the domain of domestic financial stability. The oversight and supervision framework of important FMIs are discussed and analyzed. Even though the supervision of FMIs is fragmented, the report highlights the measures to be taken to strengthen the effectiveness of FMIs.

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 113 pages
File Size : 54,8 Mb
Release : 2000-11-02
Category : Business & Economics
ISBN : 9781451820591

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Japan by International Monetary Fund Pdf

A sustained decline in fertility rates underlies a rapid aging and decline of Japan's population. This will have profound social and economic implications. The paper illustrates the difficult situation facing Japanese fiscal policy in the years ahead. The findings of this paper indicate that there may be a role for foreign exchange interventions in providing stimulus at the current conjuncture. Deposit insurance reform is a central element in the government strategy to strengthen the Japanese banking system. The unemployment-deflation puzzle in Japan has been explained.

Author : International Monetary Fund. Asia and Pacific Dept
Publisher : International Monetary Fund
Page : 61 pages
File Size : 46,9 Mb
Release : 2013-08-05
Category : Business & Economics
ISBN : 9781484316900

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Japan by International Monetary Fund. Asia and Pacific Dept Pdf

This Selected Issues paper examines implications for long-term bond yields in case of Japan. The analysis finds that so far, upward pressure on interest rates from high public debt has been offset by domestic factors, including a stable investor base with a preference for safe assets. As these effects could decline with population aging, yields could rise unless reforms are implemented to stimulate growth and reduce the public debt-to-GDP ratio. In such a scenario, long-term Japanese government bond rates would remain relatively low and stable. The paper also analyzes to what extent rising health care spending poses a fiscal risk to Japan’s economy.

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 109 pages
File Size : 50,7 Mb
Release : 1999-10-12
Category : Business & Economics
ISBN : 9781451820584

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Japan by International Monetary Fund Pdf

This paper provides a brief overview of the causes of the poor economic performance of Japan in the 1990s, and a more detailed analysis of developments in the real sector during 1999. The paper highlights that the collapse of the asset price bubble in 1990–91 provided the trigger for the downturn in 1992, and compounded the economic problems thereafter through its effects on the banking system. This paper also analyzes the fiscal policy developments and the monetary developments in Japan.

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
Page : 126 pages
File Size : 42,8 Mb
Release : 2017-09-18
Category : Business & Economics
ISBN : 9781484319819

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Japan by International Monetary Fund. Monetary and Capital Markets Department Pdf

This Technical Note discusses the results of stress testing of the financial sector in Japan. The Japanese financial system appears generally resilient to short-term risks, but pockets of vulnerability exist. Overall, banks appear to have sufficient capital and liquidity buffers to cope with a scenario of severe recession owing to disruptions in global trade, and accompanied by a sharp increase in interest rates and risk premiums, and a decline in equity prices. Spillovers within the system also appear to be limited. At the same time, resilience is not equal among all institutions included in the analysis. Some life insurance companies and regional banks may need to strengthen their capital buffers.

Author : Thomas F. Cargill,Michael M. Hutchison,Takatoshi Ito
Publisher : MIT Press
Page : 205 pages
File Size : 42,6 Mb
Release : 2001-01-03
Category : Business & Economics
ISBN : 9780262262101

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Financial Policy and Central Banking in Japan by Thomas F. Cargill,Michael M. Hutchison,Takatoshi Ito Pdf

This book analyzes how the bank-dominated financial system—a key element of the oft-heralded "Japanese economic model"—broke down in the 1990s and spawned sweeping reforms. Japan's financial institutions and policy underwent remarkable change in the past decade. The country began the 1990s with a heavily regulated financial system managed by an unchallenged Ministry of Finance and ended the decade with a Big Bang financial market reform, a complete restructuring of its regulatory financial institutions, and an independent central bank. These reforms have taken place amid recession and rising unemployment, collapsing asset prices, a looming banking crisis, and the lowest interest rates in the industrial world. This book analyzes how the bank-dominated financial system—a key element of the oft-heralded "Japanese economic model"—broke down in the 1990s and spawned sweeping reforms. It documents the sources of the Japanese economic stagnation of the 1990s, the causes of the financial crisis, the slow and initially limited policy response to banking problems, and the reform program that followed. It also evaluates the new financial structure and reforms at the Bank of Japan in light of the challenges facing the Japanese economy. These challenges range from conducting monetary policy in a zero-interest rate environment characterized by a "liquidity trap" to managing consolidation in the Japanese banking sector against the backdrop of increasing international competition.

Author : Colin McKenzie,Michael Stutchbury
Publisher : Unknown
Page : 173 pages
File Size : 54,6 Mb
Release : 1992
Category : Business & Economics
ISBN : 1863732403

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Japanese Financial Markets and the Role of the Yen by Colin McKenzie,Michael Stutchbury Pdf

Author : Mr.Dennis P Botman,Mr.Stephan Danninger,Mr.Jerald A Schiff
Publisher : International Monetary Fund
Page : 20 pages
File Size : 54,5 Mb
Release : 2015-01-30
Category : Deflation (Finance)
ISBN : 9781498385183

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Excerpt: Can Abenomics Succeed? by Mr.Dennis P Botman,Mr.Stephan Danninger,Mr.Jerald A Schiff Pdf

Since the bursting of the bubble, Japan has been unable to sustain economic recoveries. Monetary policy was unable to beat deflation, structural reforms failed to lift potential growth, and fiscal measures were insufficient to reverse the path of ever rising public sector debt. Japan’s revitalization plan dubbed the “three arrows of Abenomics” devises a three-pronged strategy—combining fiscal, monetary, and structural policies—to overcome these problems. Amid a more challenging external environment and an aging population, Japan may well face its last opportunity to avoid a highly disruptive fiscal crisis and restore sustainability in a smooth manner instead. The book discusses mutually reinforcing reforms on several fronts, including aggressive monetary easing, growth-friendly fiscal consolidation, and structural and financial sector reforms to revive animal spirits and stimulate potential growth.