Download or read book Tumultuous Times written by Masaaki Shirakawa and published by Yale University Press. This book was released on 2021-08-10 with total page 534 pages. Available in PDF, EPUB and Kindle. Book excerpt: A rare insider’s account of the inner workings of the Japanese economy, and the Bank of Japan’s monetary policy, by a career central banker The Japanese economy, once the envy of the world for its dynamism and growth, lost its shine after a financial bubble burst in early 1990s and slumped further during the Global Financial Crisis in 2008. It suffered even more damage in 2011, when a severe earthquake set off the Fukushima Daiichi nuclear disaster. However, the Bank of Japan soldiered on to combat low inflation, low growth, and low interest rates, and in many ways it served as a laboratory for actions taken by central banks in other parts of the world. Masaaki Shirakawa, who led the bank as governor from 2008 to 2013, provides a rare insider’s account of the workings of Japanese economic and monetary policy during this period and how it challenged mainstream economic thinking.

Download or read book Sveriges Riksbank and the History of Central Banking written by Tor Jacobson and published by . This book was released on 2018-05-24 with total page 527 pages. Available in PDF, EPUB and Kindle. Book excerpt: Offers a comprehensive analysis of the historical experiences of monetary policymaking of the world's largest central banks. Written in celebration of the 350th anniversary of the central bank of Sweden, Sveriges Riksbank. Includes chapters on other banks around the world written by leading economic scholars.

Download or read book Princes of the Yen written by Richard Werner and published by Routledge. This book was released on 2015-03-04 with total page 384 pages. Available in PDF, EPUB and Kindle. Book excerpt: This eye-opening book offers a disturbing new look at Japan's post-war economy and the key factors that shaped it. It gives special emphasis to the 1980s and 1990s when Japan's economy experienced vast swings in activity. According to the author, the most recent upheaval in the Japanese economy is the result of the policies of a central bank less concerned with stimulating the economy than with its own turf battles and its ideological agenda to change Japan's economic structure. The book combines new historical research with an in-depth behind-the-scenes account of the bureaucratic competition between Japan's most important institutions: the Ministry of Finance and the Bank of Japan. Drawing on new economic data and first-hand eyewitness accounts, it reveals little known monetary policy tools at the core of Japan's business cycle, identifies the key figures behind Japan's economy, and discusses their agenda. The book also highlights the implications for the rest of the world, and raises important questions about the concentration of power within central banks.

Download or read book Japanese Monetary Policy written by Kenneth J. Singleton and published by University of Chicago Press. This book was released on 2007-12-01 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: How has the Bank of Japan (BOJ) helped shape Japan's economic growth during the past two decades? This book comprehensively explores the relations between financial market liberalization and BOJ policies and examines the ways in which these policies promoted economic growth in the 1980s. The authors argue that the structure of Japan's financial markets, particularly restrictions on money-market transactions and the key role of commercial banks in financing corporate investments, allowed the BOJ to influence Japan's economic success. The first two chapters provide the most in-depth English-language discussion of the BOJ's operating procedures and policymaker's views about how BOJ actions affect the Japanese business cycle. Chapter three explores the impact of the BOJ's distinctive window guidance policy on corporate investment, while chapter four looks at how monetary policy affects the term structure of interest rates in Japan. The final two chapters examine the overall effect of monetary policy on real aggregate economic activity. This volume will prove invaluable not only to economists interested in the technical operating procedures of the BOJ, but also to those interested in the Japanese economy and in the operation and outcome of monetary reform in general.

Download or read book Saving The Sun written by Gillian Tett and published by Random House. This book was released on 2011-12-31 with total page 384 pages. Available in PDF, EPUB and Kindle. Book excerpt: For more than a decade, Japan's dismal economy - which has bounced from deflationary collapse to fitful recovery and back to collapse - has been the biggest obstacle to economic growth. Why has the world's second largest economy been unable to save itself? Why has a country, whose financial might in the 1980s was the most feared force on the globe, become the sick man of the world economy? Saving the Sun answers these questions and more in the riveting and remarkable story of Long Term Credit Bank, one of the world's most respected financial institutions, and its attempts to transform itself into a Western-style bank and reconcile the cultural gulf that still exists between Japan and the international banking community.'Smart and engaging-it's a riveting tale with important insights into Japan's culture and its sclerotic system.' BusinessWeek'Saving the Sun is not simply about the fate of one Japanese bank. It is about the clash of two visions of finance-and how hard it is to reconcile them.' The Wall Street Journal Europe

Download or read book The Japanese Banking Crisis written by Ryozo Himino and published by Springer Nature. This book was released on 2021-01-07 with total page 127 pages. Available in PDF, EPUB and Kindle. Book excerpt: This open access book provides a readable narrative of the bubbles and the banking crisis Japan experienced during the two decades between the late 1980s and the early 2000s. Japan, which was a leading competitor in the world’s manufacturing sector, tried to transform itself into an economy with domestic demand-led mature growth, but the ensuing bubbles and crisis instead made the country suffer from chronicle deflation and stagnation. The book analyses why the Japanese authorities could not avoid making choices that led to this outcome. The chapters are based on the lectures to regulators from emerging economies delivered at the Global Financial Partnership Center of the Financial Services Agency of Japan.

Download or read book History of Money written by Glyn Davies and published by University of Wales Press. This book was released on 2010-09-15 with total page 1069 pages. Available in PDF, EPUB and Kindle. Book excerpt: An account of the central importance of money in the ordinary business of the life of different people throughout the ages from ancient times to the present day. It includes the Barings crisis and the report by the Bank of England on Barings Bank; information on the state of Japanese banking; and, the changes in the financial scene in the US.

Download or read book Banking on Freedom written by Shennette Garrett-Scott and published by Columbia University Press. This book was released on 2019-05-07 with total page 197 pages. Available in PDF, EPUB and Kindle. Book excerpt: Between 1888 and 1930, African Americans opened more than a hundred banks and thousands of other financial institutions. In Banking on Freedom, Shennette Garrett-Scott explores this rich period of black financial innovation and its transformative impact on U.S. capitalism through the story of the St. Luke Bank in Richmond, Virginia: the first and only bank run by black women. Banking on Freedom offers an unparalleled account of how black women carved out economic, social, and political power in contexts shaped by sexism, white supremacy, and capitalist exploitation. Garrett-Scott chronicles both the bank’s success and the challenges this success wrought, including extralegal violence and aggressive oversight from state actors who saw black economic autonomy as a threat to both democratic capitalism and the social order. The teller cage and boardroom became sites of activism and resistance as the leadership of president Maggie Lena Walker and other women board members kept the bank grounded in meeting the needs of working-class black women. The first book to center black women’s engagement with the elite sectors of banking, finance, and insurance, Banking on Freedom reveals the ways gender, race, and class shaped the meanings of wealth and risk in U.S. capitalism and society.

Download or read book The Bank That Lived a Little written by Philip Augar and published by Penguin UK. This book was released on 2018-07-05 with total page 546 pages. Available in PDF, EPUB and Kindle. Book excerpt: Based on unparalleled access to those involved, and told with compelling pace and drama, The Bank that Lived a Little describes three decades of boardroom intrigue at one of Britain's biggest financial institutions. In a tale of feuds, grandiose dreams and a struggle for supremacy between rival strategies and their adherents, Philip Augar gives a riveting account of Barclays' journey from an old Quaker bank to a full-throttle capitalist machine. The disagreement between those ambitious for Barclays to join the top table of global banks, and those preferring a smaller domestic role more in keeping with the bank's traditions, cost three chief executives their jobs and continues to divide opinion within Barclays, the City and beyond. This is an extraordinary corporate thriller, which among much else describes how Barclays came to buy Lehman Brothers for a bargain price in 2008, why it was so keen to avoid taking government funding during the financial crisis, and the price shareholders have paid for a decade of barely controlled ambition. But Augar also shows how Barclays' experiences are a paradigm for Britain's social and economic life over thirty years, which saw the City move from the edge of the economy to its very centre. These decades created unprecedented prosperity for a tiny number, and made the reputations of governments and individuals but then left many of them in tatters. The leveraged society, the winner-takes-all mentality and our present era of austerity can all be traced to the influence of banks such as Barclays. Augar's book tells this rollercoaster story from the perspective of many of its participants - and also of those affected by the grip they came to have on Britain.

Download or read book Central Banking in the Twentieth Century written by John Singleton and published by Cambridge University Press. This book was released on 2010-11-25 with total page 351 pages. Available in PDF, EPUB and Kindle. Book excerpt: Central banks are powerful but poorly understood organisations. In 1900 the Bank of Japan was the only central bank to exist outside Europe but over the past century central banking has proliferated. John Singleton here explains how central banks and the profession of central banking have evolved and spread across the globe during this period. He shows that the central banking world has experienced two revolutions in thinking and practice, the first after the depression of the early 1930s, and the second in response to the high inflation of the 1970s and 1980s. In addition, the central banking profession has changed radically. In 1900 the professional central banker was a specialised type of banker, whereas today he or she must also be a sophisticated economist and a public official. Understanding these changes is essential to explaining the role of central banks during the recent global financial crisis.

Download or read book The Ascent of Money written by Niall Ferguson and published by Penguin. This book was released on 2008-11-13 with total page 498 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 10th anniversary edition, with new chapters on the crash, Chimerica, and cryptocurrency "[An] excellent, just in time guide to the history of finance and financial crisis." —The Washington Post "Fascinating." —Fareed Zakaria, Newsweek In this updated edition, Niall Ferguson brings his classic financial history of the world up to the present day, tackling the populist backlash that followed the 2008 crisis, the descent of "Chimerica" into a trade war, and the advent of cryptocurrencies, such as Bitcoin, with his signature clarity and expert lens. The Ascent of Money reveals finance as the backbone of history, casting a new light on familiar events: the Renaissance enabled by Italian foreign exchange dealers, the French Revolution traced back to a stock market bubble, the 2008 crisis traced from America's bankruptcy capital, Memphis, to China's boomtown, Chongqing. We may resent the plutocrats of Wall Street but, as Ferguson argues, the evolution of finance has rivaled the importance of any technological innovation in the rise of civilization. Indeed, to study the ascent and descent of money is to study the rise and fall of Western power itself.

Download or read book The Oxford Handbook of Japanese Politics written by Robert J. Pekkanen and published by Oxford University Press. This book was released on 2021-10-25 with total page 1001 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Book Abstract and Keywords: The study of Japanese politics has flourished over the past several decades. This Handbook provides a state-of-the-field overview for students and researchers of Japanese. The volume also serves to introduce Japanese politics to readers less familiar with Japan. In addition, the volume has a theme of "evaluating Japan's democracy." Taken as a whole, the volume provides a positive evaluation of the state of Japan's democracy. The volume is divided into two parts, roughly corresponding to domestic Japanese politics and Japan's international politics. Within the domestic politics part, there are four distinct sections: "Domestic Political Actors and Institutions," covering the Japanese Constitution, electoral systems, prime minister, Diet, bureaucracy, judiciary, and local government; "Political Parties and Coalitions," covering the Liberal Democratic Party, coalition government, Kōmeitō, and the political opposition; "Policymaking and the Public," covering the policymaking process, public opinion, civil society, and populism; and, "Political Economy and Social Policy," covering industrial, energy, social welfare, agricultural, monetary, and immigration policies, as well as social inequality. In the international relations part, there are four sections: "International Relations Frameworks," covering grand strategy, international organizations, and international status; "International Political Economy," covering trade, finance, foreign direct investment, the environment, economic regionalism, and the linkage between security and economics; "International Security," covering remilitarization, global and regional security multilateralism, nuclear nonproliferation, naval power, space security, and cybersecurity; and, "Foreign Relations" covering Japan's relations with the United States, China, South Korea, ASEAN, India, the European Union, and Russia. Keywords: international relations, comparative politics, democracy, international order, alliances, space security, elections, Liberal Democratic Party, multilateralism, remilitarization, international organizations, populism, civil society, coalitions, political parties, trade, finance monetary policy, foreign direct investment, cybersecurity"--

Download or read book Fragile by Design written by Charles W. Calomiris and published by Princeton University Press. This book was released on 2015-08-04 with total page 584 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why stable banking systems are so rare Why are banking systems unstable in so many countries—but not in others? The United States has had twelve systemic banking crises since 1840, while Canada has had none. The banking systems of Mexico and Brazil have not only been crisis prone but have provided miniscule amounts of credit to business enterprises and households. Analyzing the political and banking history of the United Kingdom, the United States, Canada, Mexico, and Brazil through several centuries, Fragile by Design demonstrates that chronic banking crises and scarce credit are not accidents. Calomiris and Haber combine political history and economics to examine how coalitions of politicians, bankers, and other interest groups form, why they endure, and how they generate policies that determine who gets to be a banker, who has access to credit, and who pays for bank bailouts and rescues. Fragile by Design is a revealing exploration of the ways that politics inevitably intrudes into bank regulation.

Download or read book Embracing Defeat written by John W Dower and published by W. W. Norton & Company. This book was released on 2000-07-04 with total page 692 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study of modern Japan traces the impact of defeat and reconstruction on every aspect of Japan's national life. It examines the economic resurgence as well as how the nation as a whole reacted to defeat and the end of a suicidal nationalism.

Download or read book Lords of Finance written by Liaquat Ahamed and published by Penguin. This book was released on 2009 with total page 584 pages. Available in PDF, EPUB and Kindle. Book excerpt: Argues that the stock market crash of 1929 and subsequent Depression occurred as a result of poor decisions on the part of four central bankers who jointly attempted to reconstruct international finance by reinstating the gold standard.

Download or read book Bending Adversity written by David Pilling and published by Penguin. This book was released on 2015-02-24 with total page 418 pages. Available in PDF, EPUB and Kindle. Book excerpt: “[A]n excellent book...” —The Economist Financial Times Asia editor David Pilling presents a fresh vision of Japan, drawing on his own deep experience, as well as observations from a cross section of Japanese citizenry, including novelist Haruki Murakami, former prime minister Junichiro Koizumi, industrialists and bankers, activists and artists, teenagers and octogenarians. Through their voices, Pilling's Bending Adversity captures the dynamism and diversity of contemporary Japan. Pilling’s exploration begins with the 2011 triple disaster of earthquake, tsunami, and nuclear meltdown. His deep reporting reveals both Japan’s vulnerabilities and its resilience and pushes him to understand the country’s past through cycles of crisis and reconstruction. Japan’s survivalist mentality has carried it through tremendous hardship, but is also the source of great destruction: It was the nineteenth-century struggle to ward off colonial intent that resulted in Japan’s own imperial endeavor, culminating in the devastation of World War II. Even the postwar economic miracle—the manufacturing and commerce explosion that brought unprecedented economic growth and earned Japan international clout might have been a less pure victory than it seemed. In Bending Adversity Pilling questions what was lost in the country’s blind, aborted climb to #1. With the same rigor, he revisits 1990—the year the economic bubble burst, and the beginning of Japan’s “lost decades”—to ask if the turning point might be viewed differently. While financial struggle and national debt are a reality, post-growth Japan has also successfully maintained a stable standard of living and social cohesion. And while life has become less certain, opportunities—in particular for the young and for women—have diversified. Still, Japan is in many ways a country in recovery, working to find a way forward after the events of 2011 and decades of slow growth. Bending Adversity closes with a reflection on what the 2012 reelection of Prime Minister Shinzo Abe, and his radical antideflation policy, might mean for Japan and its future. Informed throughout by the insights shared by Pilling’s many interview subjects, Bending Adversity rigorously engages with the social, spiritual, financial, and political life of Japan to create a more nuanced representation of the oft-misunderstood island nation and its people. The Financial Times “David Pilling quotes a visiting MP from northern England, dazzled by Tokyo’s lights and awed by its bustling prosperity: ‘If this is a recession, I want one.’ Not the least of the merits of Pilling’s hugely enjoyable and perceptive book on Japan is that he places the denunciations of two allegedly “lost decades” in the context of what the country is really like and its actual achievements.” The Telegraph (UK) “Pilling, the Asia editor of the Financial Times, is perfectly placed to be our guide, and his insights are a real rarity when very few Western journalists communicate the essence of the world’s third-largest economy in anything but the most superficial ways. Here, there is a terrific selection of interview subjects mixed with great reportage and fact selection... he does get people to say wonderful things. The novelist Haruki Murakami tells him: “When we were rich, I hated this country”... well-written... valuable.” Publishers Weekly (starred): "A probing and insightful portrait of contemporary Japan."

Download or read book Unsettled Account written by Richard S. Grossman and published by Princeton University Press. This book was released on 2010-06-07 with total page 407 pages. Available in PDF, EPUB and Kindle. Book excerpt: A sweeping look at the evolution of commercial banks over the past two centuries Commercial banks are among the oldest and most familiar financial institutions. When they work well, we hardly notice; when they do not, we rail against them. What are the historical forces that have shaped the modern banking system? In Unsettled Account, Richard Grossman takes the first truly comparative look at the development of commercial banking systems over the past two centuries in Western Europe, the United States, Canada, Japan, and Australia. Grossman focuses on four major elements that have contributed to banking evolution: crises, bailouts, mergers, and regulations. He explores where banking crises come from and why certain banking systems are more resistant to crises than others, how governments and financial systems respond to crises, why merger movements suddenly take off, and what motivates governments to regulate banks. Grossman reveals that many of the same components underlying the history of banking evolution are at work today. The recent subprime mortgage crisis had its origins, like many earlier banking crises, in a boom-bust economic cycle. Grossman finds that important historical elements are also at play in modern bailouts, merger movements, and regulatory reforms. Unsettled Account is a fascinating and informative must-read for anyone who wants to understand how the modern commercial banking system came to be, where it is headed, and how its development will affect global economic growth.