The political economy of Japanese monetary policy
Author(s)
Bibliographic Information
The political economy of Japanese monetary policy
MIT Press, c1997
- : [hbk.]
- : pb
Available at / 85 libraries
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Chiyoda Campus Library, Hitotsubashi University
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Note
Includes bibliographical references (p. [221]-231) and index
Description and Table of Contents
- Volume
-
: [hbk.] ISBN 9780262032476
Description
The motor vehicle industry has had a dramatic impact on industrialized societies, shaping the structure and productive processes of capitalist economies and defining consumer life styles. The industry's impact on the Third World has been no less significant. The contributions in this book provide a unique view of its emergence and growth in a number of different national settings in an area of the Third World where the industry is most advanced. They explore what occurs when the world's leading consumer durable is produced and sold in a context of dependency and underdevelopment.Chapters by Kenneth S. Mericle, Rhys Jenkins, and Rich Kronish examine the political economy of the motor vehicle industry as it has evolved in Brazil, Argentina, and Mexico, stressing the importance of the structural problems it has encountered. Chapters by John Humphrey, Judith Evans, Paul Heath Hoeffel and Daniel James, and by Ian Roxborough focus on the role and impact of labor in the same three countries.
Chapters by Douglas Bennett and Kenneth Sharpe, and Michael Fleet (on the industry in Colombia) discuss the bargaining process between the transnational vehicle corporations and the Latin American governments. A concluding chapter by the editors summarizes the study and offers a history of the industry in the three principal countries from 1900 to 1980.Rich Kronish is Associate Professor of Sociology, University of Massachusetts, Boston. Kenneth S. Mericle is Assistant Professor of Labor Education, School for Workers, University of Wisconsin, Madison.
Table of Contents
- The evolution of central banking in Japan, up to the 1950s
- phases of Japan's monetary-policy experience
- exchange rates, policy co-ordination, and a Yen currency area
- the bubble economy and its collapse
- asset-price deflation - nonperforming loans, Jusen companies and regulatory inertia
- elections, monetary policy and political business cycles
- inflation, time inconsistency and central-bank indepedence.
- Volume
-
: pb ISBN 9780262515276
Description
In The Political Economy of Japanese Monetary Policy, Cargill, Hutchison, and Ito investigate the formulation and execution of monetary and financial policies in Japan within a broad technical, political, and institutional context. Their emphasis is on the period since the collapse of the Bretton Woods system of fixed exchange rates in the early 1970s, and on the effects of policies and institutions in shaping the modern Japanese economy. The authors present basic themes and recent developments, as well as their own research findings. They also review and integrate the large literature in the area. They consider theoretical arguments and empirical evidence for each topic discussed. Topics covered include Japan's low inflation record (despite the central bank's lack of formal independence from the government); politically motivated business cycles and the timing of elections; exchange rate policy and international policy coordination; the historical development of central banking; Japan's "bubble economy" of the 1980s; and the causes, magnitude, and regulatory responses to Japan's banking and financial crisis of the 1990s.
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