A cautionary tale
Article Abstract:
Japan's stock and bond markets were destroyed partially by accident and partially by design. The finance ministry began modeling the Japanese economy after the Soviet's planned economy following the 1929 stock market crash. A planned economy is inconsistent with stock and bond markets.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1997
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Banks in never-never land
Article Abstract:
Japanese banks continue to lend money at rates that are far too low without assessing risk or reward because too large a proportion of Japanese capital is available to banks to be lent. This is because Japanese savers have too few alternatives for investing their money.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1997
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