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This paper reaches seven conclusions regarding the Yen Bloc that Japan is reputed to be forming in Pacific Asia. (1 … is no evidence of a special Japan effect. (3) Once one properly accounts for rapid growth in Asia, the statistics do not … Asian countries, though overall its influence is as yet no greater than that of New York. (6) Some of Japan's financial and …
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Examines the institutional factors influencing financial innovation, the consequences of financial development, widespread consolidation occurring through mergers and acquisitions, and the implementation of policy reform.--From publisher description
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We examine the factors that determine the differences in ex ante returns on equities in eleven Pacific Basin countries. Our concern is whether real return differentials are primarily caused by nominal return differentials or expected changes in real exchange rates. We find that nominal return...
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, Japan, Korea, Malaysia, Philippines, Singapore, Taiwan and Thailand. Time series regressions of the real exchange rate on … relative prices indicate a role for relative prices for Indonesia, Japan and Korea. When examining real exchange rates and … relative productivity ratios, one finds a relationship for Japan, Malaysia, and the Philippines. Only when augmenting the …
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