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| Author: | Ratcliffe, C. T. Ueda, T. |
| Title: | How Tokyo rates internationally. |
| Journal: | Banker
1987 : JAN, VOL. 137:731, p. 59, 61-62, 64 |
| Index terms: | FINANCIAL CENTRES STOCK MARKETS JAPAN |
| Language: | eng |
| Abstract: | High liquidity, rising capital export and progressive financial liberalization have increased Tokyo's role but it needs several major steps to become the world's third largest financial center. Some of these steps may be difficult. To name a few: (i) Japan's short-term money markets are relatively underdeveloped. (ii) Japan still has an upper limit on small deposit interest rates, which helps financing many national projects. (iii) The practice of independent bond-rating agencies to determine creditworthiness is still new in Japan. (iv) Japan's offshore banking system has hardly started to function. |
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