| アイテムタイプ |
デフォルトアイテムタイプ（フル）その２(1) |
| 公開日 |
2017-05-20 |
| タイトル |
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|
タイトル |
Reflections on New Financial System in Japan: Participation Costs, Wealth Distribution,and Security Market-Based Intermediation |
|
言語 |
en |
| 作成者 |
北村, 行伸
首藤, 惠
寺西, 重郎
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| 寄与者 |
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寄与者タイプ |
Editor |
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姓名 |
Center for Economic Institutions, Institute of Economic Research, Hitotsubashi University |
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言語 |
en |
| アクセス権 |
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|
アクセス権 |
open access |
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アクセス権URI |
http://purl.org/coar/access_right/c_abf2 |
| 主題 |
|
|
主題Scheme |
Other |
|
主題 |
financial intermediary |
| 主題 |
|
|
主題Scheme |
Other |
|
主題 |
financial system |
| 主題 |
|
|
主題Scheme |
Other |
|
主題 |
banking |
| 主題 |
|
|
主題Scheme |
Other |
|
主題 |
participation costs |
| 主題 |
|
|
主題Scheme |
Other |
|
主題 |
intermediated ownership |
| 主題 |
|
|
主題Scheme |
Other |
|
主題 |
wealth distribution |
| 内容記述 |
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内容記述タイプ |
Other |
|
内容記述 |
September 12, 2001; 6th Revision July 3, 2002 |
|
言語 |
en |
| 内容記述 |
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内容記述タイプ |
Other |
|
内容記述 |
This paper was presented at the conference on Designing Financial Systems in East Asia and Japan: Toward a Twenty-First Century Paradigm. This two-day conference was co-organized by the International Monetary Fund and the CEI. It was held during September 24-25, 2001 at Hitotsubashi Memorial Hall in Tokyo, Japan. A select group of academics, researchers and policy makers from around the world gathered to examine the timely issue of how the financial systems and corporate governance in East Asia and Japan should be redesigned in order to achieve sustainable economic development. The conference included six sessions with 17 papers. All the presented papers were added to the CEI series of working papers. The series, as well as the contents of the conference, can be reached at http://cei.ier.hit-u.ac.jp. |
| 内容記述 |
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内容記述タイプ |
Abstract |
|
内容記述 |
This paper deliberates on the re-designing of the financial system in Japan, currently ailing seriously. With four conditions in the background - enhanced capability of risk transfer through financial markets, increased participation costs in the financial markets, increases in probabilities of systemic risks, and the pattern of wealth distribution, we will argue the followings: (i) Risk management would make more use of risk elimination by institutional investors and risk transfers through the financial markets. It is urgently needed to promote efficient system of risk transfer through financial intermediaries. (ii) Financial market transaction is an area for institutional investors; not suited for individual investors. (iii) It is necessary to establish an institutional framework to promote active corporate monitoring by institutional investors, who are also principal shareholders. (iv) Banks will play an important role in financing small and medium size firms, - in particular venture firms, when probabilities of systemic risks are alleviated in the future. In this sense, banking is in a state of evolution rather than outright decline. As a policy conclusion, we will stress the importance of participation by individual investors in the mechanism of risk transfers through security market-based intermediation. |
| 出版者 |
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出版者 |
Institute of Economic Research, Hitotsubashi University |
| 日付 |
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|
日付 |
2002-07 |
|
日付タイプ |
Issued |
| 言語 |
|
|
言語 |
eng |
| 資源タイプ |
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|
資源タイプ識別子 |
http://purl.org/coar/resource_type/c_18gh |
|
資源タイプ |
technical report |
| 出版タイプ |
|
|
出版タイプ |
VoR |
|
出版タイプResource |
http://purl.org/coar/version/c_970fb48d4fbd8a85 |
| 関連情報 |
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|
関連タイプ |
isPartOf |
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|
関連名称 |
CEI Working Paper Series ; No. 2001-25 |
| 関連情報 |
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|
識別子タイプ |
URI |
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|
関連識別子 |
http://cei.ier.hit-u.ac.jp/index.html |
| 収録物識別子 |
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|
収録物識別子タイプ |
NCID |
|
収録物識別子 |
AA11590659 |
| ページ数 |
|
|
ページ数 |
59 |
| JEL |
|
|
値 |
G1 |
| JEL |
|
|
値 |
G2 |
| JEL |
|
|
値 |
E5 |
| JEL |
|
|
値 |
L2 |
| JEL |
|
|
値 |
N2 |
wp2001-25a.pdf (1591780 bytes)
