, will not invest without strong legal protections.Post-war Japan is one of the wealthiest countries in the world. For over … burst, empirical studies that measure the size, liquidity, depth and efficiency of Japan's financial market consistently … rank it among the ‘elites' of the world. Based on the Gang of Four's theory, post-war Japan must have provided vigorous …

This paper examines the historical evolution of central bank credibility using both historical narrative and empirics … for a group of 16 countries, both advanced and emerging. It shows how the evolution of credibility has gone through a … pendulum where credibility was high under the classical gold standard before 1914 before being lost and not fully regained …