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| Author: | Jones, C. |
| Title: | Dismantling barriers. |
| Journal: | Banker
1987 : JUN, VOL. 137:736, p. 44, 46, 48-49 |
| Index terms: | MONEY MARKETS DEREGULATION CAPITAL MARKETS JAPAN |
| Language: | eng |
| Abstract: | The Japanese financial system was developed after 1945 on three related principles: (i) tight control of international capital flows; (ii) tight control of domestic interest rates; (iii) the compartmentalization of financial institutions. After 1975 the pattern of growth has abruptly changed, making the old system dysfunctional. The reforms started in 1980 with lifting controls on international capital transactions. Further steps are also taken, but the pace will be dictated by prudence and not by foreigners. |
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