Designing Financial Systems In East Asia And Japan Book

	List of contributors
	Preface
	Introduction: globalization, financial technology and growth phase - some thoughts on redesigning financial systems in East Asia and Japan	1
Pt. I	Financial institutions and financial markets in Japan and East Asia	17
1	Can the financial restraint theory explain the postwar experience of Japan's financial system?	19
2	The role of long-term funds for economic development: Empirical evidence in Japan, Korea and Taiwan	47
3	Japanese economic success and the curious characteristics of Japanese stock prices	84
4	Japanese securities firms, business corporations and financial institutions: A comparison of their investing behavior	112
5	Financial deregulations, weakness of market discipline and market development: Japan's experience	120
6	Macroeconomic effects of capital adequacy regulation in Japan	152
Pt. II	Issues in governance of corporate sector and new technology	185
7	The financing and governance of new technologies	187
8	The benefits and costs of internal markets: Evidence from Asia's financial crisis	204
9	Large shareholders and banks: Who monitors and how?	225
10	Did families lose or gain control after the East Asian financial crisis?	247
11	The determinants of executive compensation in Japan and the UK: Agency hypothesis or joint determination hypothesis?	273
Pt. III	Toward a new design of financial system	295
12	Toward an incentive compatible financial system: Accounting and managing the non-performing loans	297
13	Further reforms of the JGB market for the promotion of regional bond markets	316
14	Reflections on the new financial system in Japan: Participation costs, wealth distribution and security market-based intermediation	334
	Index	385