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Financialisation and the Financial and Economic Crises: The Case of Japan

Author

Listed:
  • Mimoza Shabani

    (School of Oriental and African Studies, University of London)

  • Jan Toporowski

    (School of Oriental and African Studies, University of London)

Abstract

This study examines the financialisation process in Japan with the aim of identifying the channels of transmission of financialisation on short and long run economic development. The first section gives an overview of the long-run development of the Japanese economy dating back to 1980. The second section analyses the effect of financialisation on income distribution, investment and household consumption as well as discusses the development of the country’s current account. The third section identifies the transmission mechanism of the latest economic crisis. It is argued that financialisation in Japan has not been significant and thus has had no explicit effect on the recession the country experienced in 2008-2009. Section four concludes

Suggested Citation

  • Mimoza Shabani & Jan Toporowski, 2015. "Financialisation and the Financial and Economic Crises: The Case of Japan," FESSUD studies fstudy28, Financialisation, Economy, Society & Sustainable Development (FESSUD) Project.
    • Handle: RePEc:fes:fstudy:fstudy28
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    Citations

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    Cited by:

    1. Detzer, Daniel, 2016. "Financialisation, debt and inequality: Scenarios based on a stock flow consistent model," IPE Working Papers 64/2016, Berlin School of Economics and Law, Institute for International Political Economy (IPE).
    2. Eckhard Hein, 2015. "Causes and Consequences of the Financial Crisis and the Implications for a More Resilient Financial and Economic System: Synthesis of FESSUD Work Package 3," Working papers wpaper128, Financialisation, Economy, Society & Sustainable Development (FESSUD) Project.
    3. Nina Dodig & Eckhard Hein & Daniel Detzer, 2016. "Financialisation and the financial and economic crises: theoretical framework and empirical analysis for 15 countries," Chapters, in: Eckhard Hein & Daniel Detzer & Nina Dodig (ed.), Financialisation and the Financial and Economic Crises, chapter 1, pages 1-41, Edward Elgar Publishing.
    4. Hein, Eckhard, 2016. "Causes and consequences of the financial crisis and the implications for a more resilient financial and economic system," IPE Working Papers 61/2016, Berlin School of Economics and Law, Institute for International Political Economy (IPE).

    More about this item

    Keywords

    Japan; financialisation; financial crisis;
    All these keywords.

    JEL classification:

    • E25 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Aggregate Factor Income Distribution
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • F30 - International Economics - - International Finance - - - General
    • P16 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Capitalist Institutions; Welfare State

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