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dc.contributor.authorAronson, Bruce E.en_US
dc.date.accessioned2013-11-12T20:28:11Z
dc.date.available2013-11-12T20:28:11Z
dc.date.issued2011en_US
dc.identifier.citationBruce E. Aronson, A Reassessment of Japan's Big Bang Financial Regulatory Reform, in Imes Discussion Paper Series (Inst. for Monetary & Econ. Studies, Bank of Japan, Discussion Paper Ser. No. 2011-E-19, 2011).en_US
dc.identifier.urihttp://hdl.handle.net/10504/46885
dc.description.abstractThis paper reassesses the results of Japan‘s financial deregulation over the last two decades. Japan‘s Big Bang sought to transform a highly regulated bank-centered financial system to a transparent, market-centered financial system to revitalize Japan‘s economy and aging society. Prior assessments generally view this reform effort as a failure due to Japan‘s low economic growth rate.
dc.description.abstractThis paper finds, contrary to conventional wisdom, that government-led deregulatory and administrative reform was largely successful in removing legal and administrative obstacles to the development of a market-centered financial system. However, the persistence of past practices by market participants and strong headwinds such as low macroeconomic growth and poor financial market performance prevented achievement of the Big Bang‘s ambitious goals. This illustrates both the limits of what can be accomplished through deregulation of financial markets and the problem inherent in using a results-oriented standard in evaluating Japan‘s reform efforts.
dc.language.isoeng_USen_US
dc.publisherInstitute for Monetary and Economic Studies, Bank of Japanen_US
dc.titleReassessment of Japan's big bang financial regulatory reformen_US
dc.typeOther Formaten_US
dc.title.workImes Discussion Paper Seriesen_US
dc.subject.fastFinancial institutions
dc.subject.fastDeregulation
dc.subject.fastEconomic policy
dc.subject.fastJapan
dc.url.fasthttp://id.worldcat.org/fast/924636
dc.url.fasthttp://id.worldcat.org/fast/891008
dc.url.fasthttp://id.worldcat.org/fast/902025
dc.url.fasthttp://id.worldcat.org/fast/1204082
dc.date.year2011en_US
dc.program.unitSchool of Lawen_US
dc.url.link3http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1918584en_US
dc.url.link1http://bibpurl.oclc.org/web/42454/11-E-19.pdfen_US
dc.contributor.cuauthorAronson, Bruce E.en_US
dc.identifier.viafhttps://viaf.org/viaf/283150468298904171648
dc.identifier.wcihttps://www.worldcat.org/identities/viaf-3849149068491565730000/
dc.identifier.ssrnhttps://papers.ssrn.com/sol3/cf_dev/AbsByAuth.cfm?per_id=427378


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