Challenges of Monetary/Financial Regulatory Policies since the 1980s

Shijuro Ogata

Chapter 9 in Financial Strategies and Public Policies, 1993, pp 61-65 from Palgrave Macmillan

Abstract: Abstract Future perspectives can only be formulated after serious reflection on what has been experienced in the recent past both domestically and globally. During the 1980s Japan achieved two important things. One was the continuation of stable economic growth while avoiding violent inflation, and the other was effecting structural changes to change Japan from an export-led economy to a domestic demand-led economy. By international comparison, Japan’s performance in terms of growth and price stability has been good, and imbalances in its balance of payments have also declined substantially. Policies must have contributed a great deal to these achievements. However, a closer look at Japan’s financial developments during this period shows that there is no room for complacency. Recent asset inflation and all sorts of financial excesses are closely related to monetary/regulatory policies.

Keywords: Interest Rate; Monetary Policy; Central Bank; Asset Price; Regulatory Policy (search for similar items in EconPapers)
Date: 1993
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-12177-9_9

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DOI: 10.1007/978-1-349-12177-9_9

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