SABIIA - Sistema Aberto e Integrado de Informação em Agricultura (Sabiia)

Japan's markets for money, capital and foreign exchange are among the biggest worldwide. For many years, Tokyo's role as the leading financial center in Asia has been unchallenged. However, recently, other places in the region such as Singapore and Hong Kong have invested heavily to strengthen their competitiveness, and countries like Malaysia and Thailand stand in line to follow their example. This raises two questions: First, how can the emergence of financial centers be explained in general? Second, what are Tokyo's longer-term prospects and how are they affected by the various influences? The study draws the attention to the role of evolutionary forces and the way by which micromotives and the interaction of many agents produces macrobehavior. In this...

Emerging Financial Centres

Palavras-chave: Financial Economics; N25; G15; R12.

Ano: 2000

URL: http://purl.umn.edu/26371

Japan's Financial Markets: The Lost Decade

Palavras-chave: Financial Economics.

Ano: 1998

URL: http://purl.umn.edu/26156

Recent debates about the state of Japan's financial system focus on the weakness of Japanese banks. But, in the complex financial relations of an advanced economy bank finance cannot be seen separate from other forms of financial intermediation. Despite the reform efforts under the Big Bang program, financial markets in Japan show severe signs of malfunctioning, distortion and backwardness. The paper gives an overview of the current state of markets for money, bonds, equities and derivatives arguing that for reform to become successful measures to develop an entirely different market culture were needed. It calls for a redefinition of the role of interest groups in the financial intermediation process - including the role of government.

Culture and Finance in a Globalised World - An Uneasy Relation

Palavras-chave: Financial Economics; E58; E62; G10; N25.

Ano: 2003

URL: http://purl.umn.edu/26335

At the turn of the century, the role of culture in society is changing. One facet of this change is the relation between culture and finance. Globalisation has led to an increasing competition between financial centres worldwide and culture has become one determinant of competitiveness. But, culture is also adapting to finance in that it responds to the requirements of globalisation and to the needs and desires of a place's financial community. The paper analyses these two sides of interaction between finance and culture emphasising the role of collective memory and cultural identity for the representation of financial centers and taking a closer look at the role of the arts among the variety of forms of cultural practices. Then the attention is drawn to...

How Has the European Monetary Integration Process Contributed to Regional Financial Market Integration?

Palavras-chave: International Finance; Finance in Urban Economies; Cultural Economics; Financial Economics; F3; R51; Z1.

Ano: 2000

URL: http://purl.umn.edu/26268

European monetary integration was one element in the process of financial market integration but by far not the only one. The paper traces the development of financial markets and systems in Europe from the beginnings of the euromarkets in the 1950s over early exchange rate arrangements and the establishment of the Single Market program to the launch of the euro and its effects. Not surprisingly, the contribution of the common currency to financial integration has been the stronger the more national markets have in common and the greater the importance of currency risk as discriminating factor. It has been most successful in the interbank market for very short-term unsecured deposits and in markets for bonds and derivatives, and played a lesser role for...