This paper analyzes the origins, persistence, and current evolution of a series of non-legal rules (or quot;normsquot;) that have played an important role in Japanese corporate governance. The four central features of the governance environment examined here include: 1) the main bank system, in...

This paper examines three decades of Japanese experience with deposit insurance and failing banks, and analyzes the implications of that experience for bank safety net reform in other countries. To date, the literature and policy debate on deposit insurance have been heavily colored by U.S....

This paper will be part of an interdisciplinary Handbook of Korean Unification designed to provide policy makers with a "blueprint" for a unified Korea. Drawing on lessons from privatization experiences in Germany and Central Europe, the paper outlines a step-by-step approach to the...

The U.S. environment for inbound FDI from China today exhibits striking parallels with the environment for Japanese FDI in the 1980s. The motivations for Chinese FDI, such as building on extensive export activity by reaping advantages from location and ownership in the U.S., and internalizing...

The “Beijing Consensus” is a broad label applied to China’s approach to economic governance, one in which the state plays a pervasive role and (at least in theory) markets serve the higher interests of national development. As such, the Beijing Consensus may be an alternative term for...

If recent history is any guide, the reunification of the Korean peninsula is a more realistic possibility today than at any time since armed conflict ended in 1953. This paper grew out of a three-year interdisciplinary project to provide policy makers with a "blueprint" for a unified Korea....