Monetary Policy in Japan

T. Bingham

Japanese Economy, 1979, vol. 7, issue 4, 76-88

Abstract: There are many countries in which monetary policy is conducted under conditions that diverge substantially from those assumed by the standard monetary, financial, and investment theories. In these countries financial markets are not well developed, financial flows are primarily allocated by financial institutions on a bilateral basis, supply and demand for finance is not equilibrated exclusively by the interest rate, and financial institutions operate in a half-collusive, half-competitive oligopolistic environment.

Date: 1979
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DOI: 10.2753/JES1097-203X070476

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