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Japan's Financial System: A Micro Approach

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  • Kazuhito Ikeō

Abstract

1. Introduction: According to the point of view dominant thus far (i.e., the traditional paradigm), the Japanese financial system is an oddity that cannot be explained through the application of standard Western economic theory. Consequently, the Japanese financial system was often seen as a backward or "distorted" entity. Although there are some important exceptions,1 it can be said that this view has been common, shared by both Japanese Marxist and non-Marxist economists. However, two questions can be raised about this viewpoint: One might question first whether the standard economic theory actually explains the Western financial systems, and second, whether it is really appropriate to regard the Western financial systems as an absolute norm.

Suggested Citation

  • Kazuhito Ikeō, 1987. "Japan's Financial System: A Micro Approach," Japanese Economy, Taylor & Francis Journals, vol. 16(1), pages 60-77.
    • Handle: RePEc:mes:jpneco:v:16:y:1987:i:1:p:60-77
    DOI: 10.2753/JES1097-203X160160
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    Cited by:

    1. Vittas, Dimitri & Yoon Je Cho, 1995. "Credit policies : lessons from East Asia," Policy Research Working Paper Series 1458, The World Bank.

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