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Fukuyama, Francis - 2000

Social capital is an instantiated informal norm that promotes cooperation between individuals. In the economic sphere it reduces transaction costs, and in the political sphere it promotes the kind of associational life that is necessary for the success of limited government and modern democracy....

Persistent link: https://www.econbiz.de/10014399926

Sovereign Debt : A Survey of Some Theoretical and Policy Issues

Arora, Vivek B. - 1993

This paper surveys the literature on sovereign debt that deals with the issues of a country’s ability-to-pay, its willingness-to-pay, and the policy responses to the debt crisis of the 1980s. The existence of an ability-to-pay problem suggests a need for debt reduction, but plans for debt...

Persistent link: https://www.econbiz.de/10014396219

The Two Monetary Approaches to the Balance of Payments : Keynesian and Johnsonian

Polak, J. J. - 2001

This paper emphasizes the distinction between two ‘monetary approaches to the balance of payments’, one developed in the IMF, the other under the leadership of Harry Johnson in Chicago. The IMF approach is presented as an evolutionary development of the Kahn/Keynes multiplier model in an...

Persistent link: https://www.econbiz.de/10014403615

Japan’s Corporate Income Tax : Facts, Issues and Reform Options

Mooij, Ruud A. de - 2014

This paper explores how corporate income tax reform can help Japan increase investment and boost potential growth …. Using international and Japan-specific empirical estimates of corporate tax elasticities, investment is predicted to expand … and 30 percent of the static revenue loss could be recovered in the long run through dynamic scoring, although Japan …

Persistent link: https://www.econbiz.de/10014411442

Is Japan’s Population Aging Deflationary?

Anderson, Derek - 2014

Japan has the most rapidly aging population in the world. This affects growth and fiscal sustainability, but the …

Persistent link: https://www.econbiz.de/10014411443

Unstash the Cash! : Corporate Governance Reform in Japan

Aoyagi, Chie - 2014

Japan’s high corporate savings might be holding back growth. We focus on the causes and consequences of the current … corporate behavior and suggest options for reform. In particular, Japan’s weak corporate governance—as measured by available … comprehensive corporate governance reform should be a key component of Japan’s growth strategy …

Persistent link: https://www.econbiz.de/10014411444

Balance Sheet Repair and Corporate Investment in Japan

Kang, Joong Shik - 2014

We trace Japanese firms’ behavior over the last decades using aggregate corporate balance sheet data. Financial health of Japanese corporate sector has improved and firms paid back significant amount of debt and rebuilt their liquidity buffers. They also expanded abroad while the pace of...

Persistent link: https://www.econbiz.de/10014411445

Bank of Japan'S Monetary Easing Measures : Are they Powerful and Comprehensive?

Lam, Raphael W. - 2011

With policy rates near the zero bound, the Bank of Japan (BoJ) has introduced a series of unconventional monetary …

Persistent link: https://www.econbiz.de/10014412167

Global Bonding : Do U.S. Bond and Equity Spillovers Dominate Global Financial Markets?

Bayoumi, Tamim A. - 2012

financial markets and spillovers from Europe to Japan. The results also suggest that the uncertainty about the direction of …

Persistent link: https://www.econbiz.de/10014395332

The Japanese Yen as an International Currency

Tavlas, George S. - 1991

’s use in international trade are mixed. It is also shown that, despite Japan’s emergence as the world’s largest net creditor … nation, Japan’s capital outflows have not significantly facilitated the yen’s internationalization. Data are presented …

Persistent link: https://www.econbiz.de/10014395333