Financial Development of Japan, Korea, and Taiwan - Growth, Repression, and Liberalization

Klappentext 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. Zusammenfassung This book analyses the evolution of the financial systems in Japan, Korea, and Taiwan in relation to their emergence as world economic powers.

Product details

• Authors: Hugh Park Patrick, Hugh T. Park Patrick
• Assisted by: Yung Chul Park (Editor), Hugh Patrick (Editor), Hugh T. Patrick (Editor), Hugh T. (Caulkins Professor of International Business Patrick (Editor), Patrick Hugh T. (Editor), Yung Chul Park (Editor), Korea Institute of International Finance) Yung Chul Park (President (Editor)
• Publisher: Oxford University Press
• Languages: English
• Product format: Hardback
• Released: 06.10.1994
• EAN: 9780195087666
• ISBN: 978-0-19-508766-6
• No. of pages: 396
• Subjects: Social sciences, law, business > Business > International economy; Japan, Korea, Taiwan, BUSINESS & ECONOMICS / International / General, BUSINESS & ECONOMICS / Development / Economic Development, International Economics, Development economics & emerging economies, International Finance, Development economics and emerging economies