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| Reszat, Beate. |
| 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... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Financial Economics; N25; G15; R12. |
| Ano: 2000 |
URL: http://purl.umn.edu/26371 |
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| Jia, Xiangping; Guo, Pei. |
| Historically, China's political attempts to provide access to rural credit has met with mixed results and an institutional structure that often strays from intended policy goals. There has been a close correspondence between financial depression and many policy-driven financial institutions that dominated the rural financial system in China. More recently, ongoing reforms are dedicated towards a gradual liberalization within the system. In this study, we explore the context of agricultural transition and political process as defined by the various interlinkages across the Chinese rural financial system. We find that there has been negligible progress in the evolution of the rural financial market in China. The policy-led financial institutions ended up as... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Rural finance; Institutions; Intervention; Gradualism; China; Financial Economics; E44; N25; D72; Q14. |
| Ano: 2007 |
URL: http://purl.umn.edu/7944 |
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| Reszat, Beate. |
| 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. |
| Tipo: Working or Discussion Paper |
Palavras-chave: Financial Economics; E58; E62; G10; N25. |
| Ano: 2003 |
URL: http://purl.umn.edu/26335 |
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