Chapter

The Relevance of Japanese Finance and its Main Bank System

Hugh Patrick

in The Japanese Main Bank System

Published in print February 1995 | ISBN: 9780198288992
Published online August 2004 | e-ISBN: 9780191601224 | DOI: http://dx.doi.org/10.1093/0198288999.003.0011
 The Relevance of Japanese Finance and its Main Bank System

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This chapter examines issues in the design of good financial systems for developing markets and transforming socialist economies (TSEs) based on the Japanese experience. The effective transfer of the Japanese main bank system will depend on the financial architecture and policies being pursued in the transferring country. Developing economies and TSEs should take note of the following points: that the Japanese degree of financial repression was modest, real interest rates and other incentives were positive, there was competition, credit allocation was based on objective, efficiency-based criteria without outside interference, and corruption was low.

Keywords: Japanese main bank system; developing markets; transforming social economies; financial system development; financial policy

Chapter.  24717 words. 

Subjects: Financial Markets

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