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Analysis Of The Institutional Reasons For Japan's Financial Problems

Posted on:2004-10-13Degree:MasterType:Thesis
Country:ChinaCandidate:F TuFull Text:PDF
GTID:2206360092985177Subject:Political economy
Abstract/Summary:PDF Full Text Request
Japanese economy has been depressive for a long time since bubble economy evaporated in the early 1990s. There are many problems under the present finance system, such as, huge bad creditor's rights and international status decline. A lot of scholars have different analysis about the reasons why these problems arise and are difficult to solve, whereas, few of them analyse the issue from the aspect on the finance system reform. Institution plays a significantly important role for the development of national economy. Therefore, this research is aim at finding out the financial problems from this angle. Moreover, the author hopes that it provides an inspiration to the further study on Japanese economy and contributes to Chinese economy study. This research includes five main parts:1. Chapter one offers the theoretical foundation, that is, new institution school, especially institutional change theory. First of all, explain the definition of institution, three transaction models, the classifications, the functions and the efficiency. The objective of the introduction of institutional change theory is providing a theoretical frame to the follow parts.2. Chapter two introduces the history of the financial institutional development in Japan, which is the practical foundation of the author's argument. Despite describing the history, the author has carried out the preliminary analysis prepared for the deeper analysis in the later statement. Section one give a brief account of the establishment of Japanese financial institution and the characteristics of it. Specifically, the section illustrates two conspicuous characteristics, which are protectionism andmain bank system respectively. The section sketches the Japanese monetary institution.Section two describes the evolution of the financial institution from the establishment and the completion of reform in1950s, and summarizes its characteristics.Section three describes the development of the institution from the middle of 1950s to the same period of 1970s. The growth speed of Japanese economy in this period reached a peak. The characteristics of the monetary institution were also more obvious. Through analysing the arrangement and characteristics of the institution, it can be seen that the monetary institution at this moment was arranged efficiently, which can realize the potential income flows, and it was a balanced institution. Section four states that the history when the bubble economy take place since middle period of the seventies. The most important content of the institution arrangement in the period was the financial liberalization, which is also the focal point of the section. In order to ensure the completion of explanation, the author expands the range of liberalization to the first half in the 1990s. There is a certain cross with bubble economy period. The content covers the changes of Japanese economic environment after the middle of the seventies, the process, the characteristics and the result of the financial liberalization, and the evaluation of the liberalization.3. Chapter three illustrates the financial problems under the current situation. The author firstly describes Japanese economic situation as the financial macro background.Chapter four elucidates the typical cases about the long-term credit bank and house finance special company. Because the two organizations is the results of the evolution of the monetary institution, furthermore, the generation, development and decline of them reflect the internal strengths and problems of the financial institution reform, The case studies4. provides a basis for the further analysis on the more profound questions, such as, the monetary institution route dependence.5. Chapter five which is the in-depth analysis is the core of this research. Section one explains Japanese monetary institution path dependence. To begin with, through summarizing the institution reform, it can be found out the forming and the changes of the formal rules, the unofficial rules an...
Keywords/Search Tags:Institutional change, Personification interaction, Non-personification interaction, Lock-in, Path dependence
PDF Full Text Request
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