Financial liberalization, which had started progressively in Japan during the 1970s, accelerated in the 1980s. The move towards greater freedom in financial transactions and the increased scope for the working of market forces have had, and are likely to have, significant implications for the...

This article examines the impacts of the European Single Market on the economic and financial relationships between Europe, the United States and Japan. It argues that the external effects of the European Single Market will crucially depend on the magnitude of the EC's domestic growth bonus...

This essay focuses on some aspects of policy issues relating to evolving international trade and monetary regimes, and patterns of national saving and investment balances conducive to better global economic performance.

Over the years,reflecting a growing consensus on the priority of price stability as the objective of central banks and on market-oriented techniques as the appropriate instruments for monetary control,the focus of the debate has gradually shifted to what can be called the style of monetary...