The financial development of Japan, Korea, and Taiwan: growth, repression, and liberalization

This path-breaking comparative study of Japan, Korea and Taiwan analyzes the evolution of the financial systems of each country in relation to their last four decades of dynamic economic growth. Each country study is addressed in two chapters, the first covering macroeconomic aspects of the financia...

Full description

Saved in:
Bibliographic Details
Format: Book
Language:English
Published: New York u.a. Oxford Univ. Press 1994
Subjects:
Online Access:Inhaltsverzeichnis
Summary:This path-breaking comparative study of Japan, Korea and Taiwan analyzes the evolution of the financial systems of each country in relation to their last four decades of dynamic economic growth. Each country study is addressed in two chapters, the first covering macroeconomic aspects of the financial system, and the second chapter focusing on commercial banking
The analysis shows how financial development has occurred in two distinct phases. Initially, interest rates were regulated to remain below market levels, entry of new financial institutions was restricted, financial markets were segmented, and domestic finance was insulated from world financial markets. The second phase has seen a steady, if sometimes slow, removal of these restrictions
This liberalization has meant regulation now focuses on prudential measures for system safety, while financial resources are increasingly allocated through the marketplace. This definitive evaluation of the financial development of Japan, Korea and Taiwan provides significant insights for economists and policymakers. In addition, it offers many lessons for less-developed markets and transforming socialist economies throughout the world
Physical Description:XII, 384 S. graph. Darst.
ISBN:0195087666

There is no print copy available.

Interlibrary loan Place Request Caution: Not in THWS collection! Indexes