The Role Of Japanese Local Governments In Stabilisation Policy
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Author | : Werner Pascha |
Publisher | : |
Total Pages | : 40 |
Release | : 2001 |
Genre | : Fiskalpolitik |
ISBN | : |
Download The Role of Japanese Local Governments in Stabilisation Policy Book in PDF, Epub and Kindle
Author | : Michio Muramatsu |
Publisher | : Oxford University Press, USA |
Total Pages | : 280 |
Release | : 2001 |
Genre | : Japan |
ISBN | : 9780199248285 |
Download Local Government Development in Post-war Japan Book in PDF, Epub and Kindle
This book examines the evolution of intergovernmental relations in postwar Japan. These relations are shown to be both complex and dynamic, and the Japanese model is revealed as one in which aspects of both central control and local autonomy have co-existed with the balance shifting graduallyover time towards the latter. The Japanese system has helped to maintain broad-based economic growth since it has at its core a strongly egalitarian fiscal transfer mechanism. At the same time, it has proved to be consistent, to a much greater extent than previously recognized, with politicaldevelopment, or progress in the attainment of such political values as liberty (personal rights) and equality (broad participation in public affairs) for individuals and communities. This is because the national government has proved flexible enough to accommodate, although not always with grace oralacrity, citizen concerns about the quality of life. The Japanese approach to intergovernmental relationships has also been successful in solving coordination problems which often arise between local and central government units and in building capacity to support greater and effectivedecentralization. Coordination problems have been handled through a variety of mechanisms including the practice of agency delegated functions, while local capacity issues have been addressed through such practices as the exchange of personnel across different levels of government and the use ofattractive compensation and training packages to recruit and retain local staff. The Japanese experience thus provides an example of gradual and guided decentralization based on shared responsibilities between local and central governments for mobilizing, managing, and spending public resources inthe pursuit of sustainable development.
Author | : Ken Victor Leonard Hijino |
Publisher | : Routledge |
Total Pages | : 268 |
Release | : 2017-04-28 |
Genre | : Political Science |
ISBN | : 1317265610 |
Download Local Politics and National Policy Book in PDF, Epub and Kindle
This book is about why and how central and local governments clash over important national policy decisions. Its empirical focus is on the local politics of Japan which has significantly shaped, and been shaped by, larger developments in national politics. The book argues that since the 1990s, changes in the national political arena, fiscal and administrative decentralization, as well as broader socio-economic developments have led to a decoupling of once closely integrated national and local party systems in Japan. Such decoupling has led to a breakdown of symbiotic relations between the centre and regions. In its place are increasing strains between national and local governments leading to greater intra-party conflict, inter-governmental conflicts, and more chief executives with agendas and resources increasingly autonomous of the national ruling party. Although being a book primarily focused on the Japanese case, the study seeks to contribute to a broader understanding of how local partisans shape national policy-making. The book theorizes and investigates how the degree of state centralization, vertical integration for party organizations, and partisan congruence in different levels of government affect inter-governmental relations. Japan’s experience is compared with Germany, Canada, and the UK to explore sources of multi-level policy conflict. Chapter 1 of this book is freely available as a downloadable Open Access PDF at http://www.taylorfrancis.com under a Creative Commons Attribution-Non Commercial-No Derivatives (CC-BY-NC-ND) 4.0 license.
Author | : Steven J. Ericson |
Publisher | : Cornell University Press |
Total Pages | : 141 |
Release | : 2020-02-15 |
Genre | : History |
ISBN | : 1501746936 |
Download Financial Stabilization in Meiji Japan Book in PDF, Epub and Kindle
With a new look at the 1880s financial reforms in Japan, Steven J. Ericson's Financial Stabilization in Meiji Japan overturns widely held views of the program carried out by Finance Minister Matsukata Masayoshi. As Ericson shows, rather than constituting an orthodox financial-stabilization program—a sort of precursor of the "neoliberal" reforms promoted by the IMF in the 1980s and 1990s—Matsukata's policies differed in significant ways from both classical economic liberalism and neoliberal orthodoxy. The Matsukata financial reform has become famous largely for the wrong reasons, and Ericson sets the record straight. He shows that Matsukata intended to pursue fiscal retrenchment and budget-balancing when he became finance minister in late 1881. Various exigencies, including foreign military crises and a worsening domestic depression, compelled him instead to increase spending by running deficits and floating public bonds. Though he drastically reduced the money supply, he combined the positive and contractionary policies of his immediate predecessors to pull off a program of "expansionary austerity" paralleling state responses to financial crisis elsewhere in the world both then and now. Through a new and much-needed recalibration of this pivotal financial reform, Financial Stabilization in Meiji Japan demonstrates that, in several ways, ranging from state-led export promotion to the creation of a government-controlled central bank, Matsukata advanced policies that were more in line with a nationalist, developmentalist approach than with a liberal economic one. Ericson shows that Matsukata Masayoshi was far from a rigid adherent of classical economic liberalism.
Author | : Naoyuki Yoshino |
Publisher | : Springer |
Total Pages | : 187 |
Release | : 2017-09-20 |
Genre | : Business & Economics |
ISBN | : 981105021X |
Download Japan’s Lost Decade Book in PDF, Epub and Kindle
This book discusses Japan’s long-term economic recession and provides remedies for that recession that are useful for other Asian economies. The book addresses why Japan’s economy has stagnated since the bursting of its economic bubble in the 1990s. Its empirical analysis challenges the beliefs of some economists, such as Paul Krugman, that the Japanese economy is caught in a liquidity trap. This book argues that Japan’s economic stagnation stems from a vertical “investment–saving” (IS) curve rather than a liquidity trap. The impact of fiscal policy has declined drastically, and the Japanese economy faces structural problems rather than a temporary downturn. These structural problems have many causes: an aging demographic (a problem that is frequently overlooked), an over-reliance by local governments on transfers from the central government, and Basel capital requirements that have made Japanese banks reluctant to lend money to start-up businesses and small and medium-sized enterprises. This latter issue has discouraged Japanese innovation and technological progress. All these issues are addressed empirically and theoretically, and several remedies for Japan’s long-lasting recession are provided. This volume will be of interest to researchers and policy makers not only in Japan but also the People’s Republic of China, many countries in the eurozone, and the United States, which may face similar challenges in the future.
Author | : Ms.Elif C Arbatli |
Publisher | : International Monetary Fund |
Total Pages | : 48 |
Release | : 2017-05-30 |
Genre | : Business & Economics |
ISBN | : 1484302362 |
Download Policy Uncertainty in Japan Book in PDF, Epub and Kindle
We develop new economic policy uncertainty (EPU) indices for Japan from January 1987 onwards building on the approach of Baker, Bloom and Davis (2016). Each index reflects the frequency of newspaper articles that contain certain terms pertaining to the economy, policy matters and uncertainty. Our overall EPU index co-varies positively with implied volatilities for Japanese equities, exchange rates and interest rates and with a survey-based measure of political uncertainty. The EPU index rises around contested national elections and major leadership transitions in Japan, during the Asian Financial Crisis and in reaction to the Lehman Brothers failure, U.S. debt downgrade in 2011, Brexit referendum, and Japan’s recent decision to defer a consumption tax hike. Our uncertainty indices for fiscal, monetary, trade and exchange rate policy co-vary positively but also display distinct dynamics. VAR models imply that upward EPU innovations foreshadow deteriorations in Japan’s macroeconomic performance, as reflected by impulse response functions for investment, employment and output. Our study adds to evidence that credible policy plans and strong policy frameworks can favorably influence macroeconomic performance by, in part, reducing policy uncertainty.
Author | : Kenneth J. Singleton |
Publisher | : University of Chicago Press |
Total Pages | : 208 |
Release | : 2007-12-01 |
Genre | : Business & Economics |
ISBN | : 0226760685 |
Download Japanese Monetary Policy Book in PDF, Epub and Kindle
How has the Bank of Japan (BOJ) helped shape Japan's economic growth during the past two decades? This book comprehensively explores the relations between financial market liberalization and BOJ policies and examines the ways in which these policies promoted economic growth in the 1980s. The authors argue that the structure of Japan's financial markets, particularly restrictions on money-market transactions and the key role of commercial banks in financing corporate investments, allowed the BOJ to influence Japan's economic success. The first two chapters provide the most in-depth English-language discussion of the BOJ's operating procedures and policymaker's views about how BOJ actions affect the Japanese business cycle. Chapter three explores the impact of the BOJ's distinctive window guidance policy on corporate investment, while chapter four looks at how monetary policy affects the term structure of interest rates in Japan. The final two chapters examine the overall effect of monetary policy on real aggregate economic activity. This volume will prove invaluable not only to economists interested in the technical operating procedures of the BOJ, but also to those interested in the Japanese economy and in the operation and outcome of monetary reform in general.
Author | : International Monetary Fund. Monetary and Capital Markets Department |
Publisher | : International Monetary Fund |
Total Pages | : 109 |
Release | : 2017-07-31 |
Genre | : Business & Economics |
ISBN | : 1484313437 |
Download Japan Book in PDF, Epub and Kindle
This paper assesses the stability of the financial system in Japan. Although the financial system has remained stable, the low profitability environment is creating new risks, and pressures are likely to persist. The search for yield among banks has led some to expand their overseas activities, and more generally to a growth in real estate lending and foreign securities investments. Efforts to increase risk-based lending to small-and medium-sized enterprises are welcome, but many banks still need to develop commensurate credit assessment capacities. Stress tests suggest that the banking sector remains broadly sound, although market risks are increasing, and there are some vulnerabilities among regional banks.
Author | : Eskander Alvi |
Publisher | : W.E. Upjohn Institute |
Total Pages | : 152 |
Release | : 2017-11-20 |
Genre | : Political Science |
ISBN | : 0880996366 |
Download Confronting Policy Challenges of the Great Recession Book in PDF, Epub and Kindle
This book presents a notable group of macroeconomists who describe the unprecedented events and often extraordinary policies put in place to limit the economic damage suffered during the Great Recession and then to put the economy back on track. Contributers include Barry Eichengreen; Gary Burtless; Donald Kohn; Laurence Ball, J. Bradford DeLong, and Lawrence H. Summers; and Kathryn M.E. Dominguez.
Author | : Micheline Beaudry |
Publisher | : IDRC |
Total Pages | : 239 |
Release | : 1999 |
Genre | : Developing countries |
ISBN | : 088936883X |
Download Japan's System of Official Development Assistance Book in PDF, Epub and Kindle
Japans System of Official Development Assistance