Download or read book Japan s Local Government Debt Control System written by Akihide Hirashima and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: Japanese local government bonds or loans are viewed as secure and almost the same as Japanese Government Bonds (JGBs). The Ministry of Internal Affairs and Communications (MIC), which is responsible for matters related to local government finance in Japan, states that even though decentralization reforms have been executed and are still in progress, there are three reasons that assure the financial security of local governments. First, the central government provides them with solid support for necessary resources. Second, the MIC checks and controls local governments' bond issuance or loan borrowing based on the "Consultation System". Third, the control system of the fiscal soundness of local governments is effective. In fact, the Bank for International Settlements (BIS) risk weight for yen-based Japanese local government bonds is as low as JGBs, which is 0% in the standardized approach

Download or read book Government Deficit and Fiscal Reform in Japan written by Toshihiro Ihori and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt: Government Deficit And Fiscal Reform In Japan presents a theoretical-based comprehensive analysis of economic consequences of government deficits and fiscal reform in Japan. Particular emphasis is directed at developing tools that can be applied to theoretically and empirically clarify essential economic concerns in Japan such as generational incidence of fiscal reform and a growing dependence on government bonds for covering financial deficits. This book evaluates the recent movement of Japanese fiscal reform and government deficit. The authors first summarize fiscal policy in 1990's. Then, they move on to investigate the macroeconomic impact of government dept and the sustainability problem, and then discuss benefits and costs of public investment. The political aspect of fiscal reconstruction movements in Japan is also examined. Finally, the authors investigate the behavior of central government's control on local governments' debt issuance and its effect on the real activities of local governments. This book points out that the long-run structural fiscal reform is more important than the short-run Keynesian fiscal policy in Japan.

Download or read book Guidelines for Public Debt Management Amended written by International Monetary Fund and published by International Monetary Fund. This book was released on 2003-09-12 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: NULL

Download or read book Tackling Japan s Fiscal Challenges written by Keimei Kaizuka and published by Springer. This book was released on 2006-07-04 with total page 238 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines how Japan should cope with fiscal challenges, as demands on the budget from an ageing society have necessitated the reigning in of public debt and the revamp of the pension and healthcare systems. It combines insights from academic research with the views of policymakers to distil key issues that need to inform public debate.

Download or read book Growing Problems in the Local Public Finance System of Japan written by Sayuri Shirai and published by . This book was released on 2010 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The current system of local public finance evolved in the aftermath of World War II, and there is an increasingly prevalent view that the system is no longer functional. Under it, the central government has been responsible for monitoring local governments and assuring them of the finance for their shortage of revenue mainly through providing intergovernmental transfers. When the gap between local tax revenue and expenditure widened in the recessionary period of the 1990s, intergovernmental transfers expanded. These transfers have especially served local governments whose own resources were limited owing to geographically and economically unfavorable conditions. As it has become increasingly difficult to finance the growing gap solely by transfers, the central government has also allowed local governments to actively issue bonds and has supported such issues with guarantees, uniform issuing conditions, and secured finance from public funds. It is increasingly recognized that this system has induced local governments to spend excessively and unproductively, rather than encouraging them to voluntarily rationalize. This article identifies three types of dilemmas that stem from the present system and discusses recent reform efforts as well as the challenges presently faced by local governments.

Download or read book The Outlook for Financing Japan s Public Debt written by Kiichi Tokuoka and published by . This book was released on 2010 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: Despite the rapid rise in public debt and large fiscal deficits, Japanese Government Bond (JGB) yields have remained fairly stable. Possible factors include: Japan's sizable pool of household savings, presence of large and stable institutional investors, and strong home bias. These factors are likely to persist for some time, but going forward, the market's capacity to absorb debt is likely to diminish, as population aging reduces savings inflows and financial reforms enhance risk appetite. This could in turn strengthen the link between JGB yields and the stock of public debt. In light of these structural changes in the market, fiscal consolidation will be key for maintaining market stability.

Download or read book Japan s System of Official Development Assistance written by Micheline Beaudry and published by IDRC. This book was released on 1999 with total page 239 pages. Available in PDF, EPUB and Kindle. Book excerpt: Japans System of Official Development Assistance

Download or read book The Japanese Tax System written by Hiromitsu Ishi and published by Oxford University Press. This book was released on 2001 with total page 454 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides English-speakers with a comprehensive description and incisive critique of the Japanese tax system. The third edition explores the Japanese government's latest round of tax reforms - a reaction to the country's prolonged period of recession following the collapse of the 'bubble' phenomenon in 1991. Two brand new chapters discuss the effect of environmental taxes and land tax reform, and much of the original data and empirical material has been updated.

Download or read book Exploration of Management Methods for Sustainable Development in Regional Governments written by Nobuo Ino and published by . This book was released on 2000 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Sustainability Debt Management and Public Debt Policy in Japan written by Takero Doi and published by . This book was released on 2014 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: The purpose of this paper is to analyze sustainability issues of Japan%u2019s fiscal policy and then to discuss the debt management policy using the theoretical models and numerical studies. We also investigate the desirable coordination of fiscal and monetary authorities toward fiscal reconstruction.We include a potential possibilities of the government bonds in our theoretical model. The public bonds, therefore, cannot be sold when the issuance leads the amount of debt outstanding to be more than a certain level. In this respect, the fiscal authority has to take into account the upper limit of stocks of public debt.This possibility of debt default provides the fiscal authority to issue public bonds strategically in an earlier period. A strategic behavior of fiscal authority induces the monetary authority, in a later period, to boost output and raise seigniorage revenues to eliminate the distortion of resource allocation due to the limitation on debt issuance. Therefore, the monetary policy in a later period suffers from an inflation bias from the ax ante point of view.There are two ways to eliminate this distortion toward successful fiscal restoration. One of them is to make the monetary authority more conservative than society in the sense that the price stability weight of monetary authority is higher than that of society. The other way of eliminating the distortion of the resource allocation is to design an institutional ceiling on the debt issuance. The direct ceiling can provide a binding constraint of the public bond issuance for the fiscal authority of Japan because it has accumulated the debt outstanding much more than other countries.

Download or read book Central and Local Government Relations in Asia written by Naoyuki Yoshino and published by Edward Elgar Publishing. This book was released on 2017 with total page 449 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sustainable and inclusive growth in emerging Asian economies requires high levels of public investment in areas such as infrastructure, education, health, and social services. The increasing complexity and regional diversity of these investment needs, together with the trend of democratization, has led to fiscal decentralization being implemented in many Asian economies. This book takes stock of some major issues regarding fiscal decentralization, including expenditure and revenue assignments, transfer programs, and sustainability of local government finances, and develops important findings and policy recommendations.

Download or read book Japan written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2017-07-31 with total page 109 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book The Federal Reserve System Purposes and Functions written by Board of Governors of the Federal Reserve System and published by . This book was released on 2002 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provides an in-depth overview of the Federal Reserve System, including information about monetary policy and the economy, the Federal Reserve in the international sphere, supervision and regulation, consumer and community affairs and services offered by Reserve Banks. Contains several appendixes, including a brief explanation of Federal Reserve regulations, a glossary of terms, and a list of additional publications.

Download or read book Fiscal Decentralization and Local Public Finance in Japan written by Nobuki Mochida and published by Routledge. This book was released on 2008-06-26 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: The intergovernmental fiscal issue is highly relevant given the worldwide movement toward more decentralized governance in both industrial and developing countries. Over the course of five decades Japan has developed a robust system of decentralized governance. This book investigates fiscal decentralization and local finance in Japan wi

Download or read book Global Trends 2040 written by National Intelligence Council and published by Cosimo Reports. This book was released on 2021-03 with total page 158 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The ongoing COVID-19 pandemic marks the most significant, singular global disruption since World War II, with health, economic, political, and security implications that will ripple for years to come." -Global Trends 2040 (2021) Global Trends 2040-A More Contested World (2021), released by the US National Intelligence Council, is the latest report in its series of reports starting in 1997 about megatrends and the world's future. This report, strongly influenced by the COVID-19 pandemic, paints a bleak picture of the future and describes a contested, fragmented and turbulent world. It specifically discusses the four main trends that will shape tomorrow's world: - Demographics-by 2040, 1.4 billion people will be added mostly in Africa and South Asia. - Economics-increased government debt and concentrated economic power will escalate problems for the poor and middleclass. - Climate-a hotter world will increase water, food, and health insecurity. - Technology-the emergence of new technologies could both solve and cause problems for human life. Students of trends, policymakers, entrepreneurs, academics, journalists and anyone eager for a glimpse into the next decades, will find this report, with colored graphs, essential reading.

Download or read book Examining Japan s Lost Decades written by Yoichi Funabashi and published by Routledge. This book was released on 2015-04-10 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines five features of Japan’s ‘Lost Decades’: the speed of the economic decline in Japan compared to Japan’s earlier global prowess; a rapidly declining population; considerable political instability and failed reform attempts; shifting balances of power in the region and changing relations with Asian neighbouring nations; and the lingering legacy of World War Two. Addressing the question of why the decades were lost, this book offers 15 new perspectives ranging from economics to ideology and beyond. Investigating problems such as the risk-averse behaviour of Japan’s bureaucracy and the absence of strong political leadership, the authors analyse how the delay of ‘loss-cutting policies’ led to the 1997 financial crisis and a state of political gridlock where policymakers could not decide on firm strategies that would benefit national interests. To discuss the rebuilding of Japan, the authors argue that it is first essential to critically examine Japan’s ‘Lost Decades’ and this book offers a comprehensive overview of Japan’s recent 20 years of crisis. The book reveals that the ‘Lost Decades’ is not an issue unique to the Japanese context but has global relevance, and its study can provide important insights into challenges being faced in other mature economies. With chapters written by some of the world’s leading Japan specialists and chapters focusing on a variety of disciplines, this book will be of interest to students and scholars in the areas of Japan studies, Politics, International Relations, Security Studies, Government Policy and History.

Download or read book Resolving China s Corporate Debt Problem written by Wojciech Maliszewski and published by International Monetary Fund. This book was released on 2016-10-14 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate credit growth in China has been excessive in recent years. This credit boom is related to the large increase in investment after the Global Financial Crisis. Investment efficiency has fallen and the financial performance of corporates has deteriorated steadily, affecting asset quality in financial institutions. The corporate debt problem should be addressed urgently with a comprehensive strategy. Key elements should include identifying companies in financial difficulties, proactively recognizing losses in the financial system, burden sharing, corporate restructuring and governance reform, hardening budget constraints, and facilitating market entry. A proactive strategy would trade off short-term economic pain for larger longer-term gain.