Political Economy of Japanese Financial Markets

RICHARD BEASON is Associate Professor in the Faculty of Business, the University of Alberta, CanadaJASON JAMES is a strategist at James Cabel, Tokyo.

• PART I: DEVELOPMENT OF THE INTERMEDIATED STRUCTURE Introduction The High Degree of Intermediation: the Financial Structure 1954-1975 Toward a More Liberal Structure PART II: BREAKDOWN AND TOWARD MATURITY End of the Party (But not the End of the World) Japans Financial Crisis PART III: INSTITUTIONS Institutions, Accounting Practices and Incentives in Japanese Equity and Other Financial Markets Political Change and the Financial Markets Public Funds, 'Price-Keeping Operations' Deregulation and 'Big Bang' PART IV: SOME STICKY QUESTIONS The Cost of Capital in Japan and Semantics of the Bubble Japanese Equity Market Valuation Concluding Remarks

"This is a useful handbook for anyone contemplating investing in Japanese markets." - Foreign Affairs"...it combines a solid grounding in economic theory with an empirical richness that would require a year's subscription to Euromoney and Institutional Investor to match...I would recommend this book..." - Journal of Asian Studies