Japan's Financial Crisis : Institutional Rigidity and Reluctant Change / Jennifer Amyx

Cover; Title; Copyright; Dedication; Contents; List of Figures; List of Tables; Abbreviations; A Note on Conventions; Acknowledgments; Introduction; CHAPTER ONE: Networks and State Performance; PART I: Contours of Japan's Financial Policy Networks; CHAPTER TWO: Finance Ministry Ties with the Political Arena; CHAPTER THREE: Finance Ministry Ties with Private and Quasi-governmental Financial Institutions; CHAPTER FOUR Finance Ministry Ties with Other Government Agencies and the Central Bank; PART II: Evolution of Network-based Regulation; CHAPTER FIVE: Institutional "Fit" for Rapid Growth. CHAPTER SIX: Slowed Growth, Institutional Rigidity, and Reforms PostponedCHAPTER SEVEN: Network-managed Forbearance after the "Bubble" Bursts; CHAPTER EIGHT: Policy Paralysis amid Deepening Crisis; PART III: Institutional Change and System Transition; CHAPTER NINE: A New Regulatory and Policymaking Paradigm; CHAPTER TEN: Why Can't Japan Get Back on Track?; CHAPTER ELEVEN: Conclusion; Appendices; Notes; Bibliography; Index

At the beginning of the 1990s, a massive speculative asset bubble burst in Japan, leaving the nation's banks with an enormous burden of nonperforming loans. Banking crises have become increasingly common across the globe, but what was distinctive about the Japanese case was the unusually long delay before the government intervened to aggressively address the bad debt problem. The postponed response by Japanese authorities to the nation's banking crisis has had enormous political and economic consequences for Japan as well as for the rest of the world. This book helps us understand the nature