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Japan’S Act On Strengthening Financial Functions (Asff), Vaasavi Unnava, Junko Oguri
Japan’S Act On Strengthening Financial Functions (Asff), Vaasavi Unnava, Junko Oguri
Journal of Financial Crises
After the Japanese Financial Crisis in 1990s, the non-performing loan problem was mitigated in the large Japanese banks but persisted in the regional banking system. By 2004, regional banks accounted for half of all non-performing loans. In 2004, the government passed the Act on Strengthening Financial Functions (ASFF), legislation for capital injections to address the non-performing loan problem. Aimed at regional banks, the ASFF secured ¥2 trillion in capital, with various eligibility restrictions and requirements, such as a rigorous debt restructuring plan. As the Japanese economy and the financial system encountered multiple external shocks, the government amended the Act several …
Financial Functions Stabilization Act, Vaasavi Unnava
Financial Functions Stabilization Act, Vaasavi Unnava
Journal of Financial Crises
In 1990, the asset-pricing bubble in Japan peaked and began a steady decline. Over the next seven years, a series of bank failures induced the Japanese government to introduce the first of a series of capital injections in 1998, 1999, and 2004. The capital injection of 1998, authorized by the Financial Functions Stabilization Act, made ¥13 trillion ($103 billion) available to financial institutions that applied. By the end of the injection window, 21 banks and trusts applied for and received ¥1.8 trillion ($13.5 billion) in subordinated debt and loans and preferred shares. While there were no limits on compensation for …
Prompt Recapitalization Act, Vaasavi Unnava
Prompt Recapitalization Act, Vaasavi Unnava
Journal of Financial Crises
In 1997, Japan’s banks were in crisis due to hundreds of billions of dollars of non-performing real estate loans. In response, the government performed three rounds of capital injections in 1998, 1999, and the early 2000s. The capital injection of 1999, authorized by the Prompt Recapitalization Act, made as much as ¥25 trillion ($208 billion) available to financial institutions that applied, regardless of their capitalization. By the end of the injection window, 32 banks and trusts applied for and received ¥8.6 trillion ($71.6 billion) total in preferred shares and subordinated debts. The Act required banks to submit and adhere to …
The History And Current Challenges Of Libraries In Japan, Francis A. Alix
The History And Current Challenges Of Libraries In Japan, Francis A. Alix
SLIS Connecting
Japan's libraries have many positive attributes and continue to evolve. However, many library sectors struggle with serving users because of staff outsourcing, library leadership, and a focus on circulation statistics that prevent them from developing into 21st-century information and community centers. This paper reviews the history and current status of each library sector, including their services and staffing. It then examines their current challenges and how professionalism, librarian education, and community engagement are the main challenges to their success and suggests recommendations to elevate them to compete in the global arena.
Tabula Rasa: Mechanism, Intelligence, And The Blank Slate In Computing And Urbanism, Claire Gorman
Tabula Rasa: Mechanism, Intelligence, And The Blank Slate In Computing And Urbanism, Claire Gorman
The Yale Undergraduate Research Journal
No abstract provided.
The Keiretsu Advantage: How Japanese Automakers Thwarted American Competition, Jasper Boers
The Keiretsu Advantage: How Japanese Automakers Thwarted American Competition, Jasper Boers
The Yale Undergraduate Research Journal
Today, Japan’s auto industry is renowned for its dominance of foreign markets. Japanese cars are cheap and fuel-efficient, undercutting larger, more expensive automobiles from Europe and America. Scholarship on recent Japanese industrial development tends to prioritize a ‘developmental state’ and robust industrial policy in shielding Japanese manufacturers from trade liberalization. This paper will argue that, while the industrial policy steered by the Ministry of International Trade and Industry (MITI) played a significant role in advancing the interests of the Japanese auto industry, it was ultimately the unique trust-based keiretsu conglomerate structure that gave Japanese auto producers a comparative advantage vis-à-vis …
The Resolution And Collection Corporation Of Japan, Mallory Dreyer
The Resolution And Collection Corporation Of Japan, Mallory Dreyer
Journal of Financial Crises
Though the Japanese real estate and stock market bubble burst in the early 1990s, the ensuing financial crisis in Japan did not reach a systemic level until 1997, when four large financial institutions failed in a single month. Because of their heavy exposure to real estate and equity markets, Japanese banks had a nonperforming loan (NPL) problem, which was prolonged, and private sector estimates of the scale of the NPL problem differed significantly from the official estimates. In response, the Japanese government created multiple asset management companies; the Resolution and Collection Corporation (RCC) was the result of the merger of …
Going Glocal In A Pandemic: Can Japan Offer Lessons For Others?, Masaaki Takemura
Going Glocal In A Pandemic: Can Japan Offer Lessons For Others?, Masaaki Takemura
Markets, Globalization & Development Review
This Dialogue contribution draws some lessons from the Japanese countermeasures against the COVID-19 pandemic. It approaches this issue from a social point of view. Specifically, it focuses on social and cultural understanding process of an uncertainty event – in this case the COVID-19 pandemic, but also early instances – by the Japanese.
Pandemic And Õen Consumption In Japan: Deliberate Buying To Aid The Seller, Kosuke Mizukoshi, Yuichiro Hidaka
Pandemic And Õen Consumption In Japan: Deliberate Buying To Aid The Seller, Kosuke Mizukoshi, Yuichiro Hidaka
Markets, Globalization & Development Review
This dialogue contribution discusses whether it is possible to create favorable new social assistance under the market principles, based on the Ouen or Õen (aid) consumption in Japan. The meaning of consumption has changed due to the COVID-19 pandemic. In Japan, aid consumption is increasing. This means helping local restaurants and producers by willfully and proactively buying and consuming their services and products. This is a favorable form of new social assistance and the result of strong marketing and market functions. The penetration of market forces may surpass pure altruistic behavior such as donations and gifts, by creating new market-linked …
Disengaged And Disempowered: How Depoliticization Prevents Two-Party Competition In Japan, Cooper Price
Disengaged And Disempowered: How Depoliticization Prevents Two-Party Competition In Japan, Cooper Price
The Commons: Puget Sound Journal of Politics
The Liberal Democratic Party (LDP) has ruled Japan for nearly the entirety of its postwar history. After a short period of opposition control (2009-2012), the LDP has spent the past eight years reestablishing the dominant-party system through which it has monopolized Japanese politics since the 1950s. This article contends that the LDP’s resilience is bolstered by two important aspects of Japanese civil society: the bureaucracy’s insulation from democratic accountability, and a growing public trend of disengagement with the political process. I explain both of these tendencies through the theoretical lens of depoliticization. Flinders and Wood identify “depoliticization” as a shift …
Terror Threat At Tokyo Olympics 2021, Daiju Wada
Terror Threat At Tokyo Olympics 2021, Daiju Wada
Japanese Society and Culture
While we witnessed collapse of Islamic State’s territorial control, Jihadists threat will continue for decades. But the real threat will not come from groups such as Al Qaeda and Islamic State but its Salafi Jihadism. Of course, the ideological threat is not visible and can never be eradicated by military actions. Cyberspace has facilitated the threat to be transnational pandemic phenomenon, as proved by inspired individuals. The backgrounds of those vary by person and this ideology performs as a detonator in driving individuals into violent terrorists.
Japan is located at the periphery of Jihadist’s interest. But Islamic State declared their …
Pornography, Its Harms, And A New Legal Strategy: Research And Experience In Japan, Seiya Morita, Caroline Norma
Pornography, Its Harms, And A New Legal Strategy: Research And Experience In Japan, Seiya Morita, Caroline Norma
Dignity: A Journal of Analysis of Exploitation and Violence
In this article we describe pornography’s harms in Japan, which are known about from surveys and research, and from the outreach and consulting activities of Japanese feminist-abolitionist groups. Among these are the Anti-Pornography and Prostitution Research Group (APP) and People Against Pornography and Sexual Violence (PAPS). We then propose a renewed classification scheme for pornography’s harms that centrally considers the experiences of victims in Japan. Lastly, we consider various legal approaches to addressing the myriad harms we describe and suggest possibilities for a new legal strategy. The article’s research comes from Japanese-language materials produced by the above-mentioned activist groups, as …
The Counterproductivity Of Protectionist Tariffs, David Korn
The Counterproductivity Of Protectionist Tariffs, David Korn
Liberty University Journal of Statesmanship & Public Policy
This paper questions whether protective tariffs are counterproductive as political-influence tools. This thesis will examine protective tariffs implemented throughout history in different circumstances and levels of technological development. In every case examined, the results and principles behind protective tariffs remain constant. The historical examples utilized in this research include Civil War taxes, the Smoot-Hawley tariff, and Trump’s tariffs against China in 2018. Each of these examples serve as consequential representations of protectionist tariff policy. Protectionist tariffs artificially raise prices and restrict markets while simultaneously propping up inefficient industries. Thus, this paper explores whether the benefits of protectionist tariffs justify their …
The Spread Of International Borders As A Prelude To The Spread Of International Borders During Covid-19, David E. Toohey
The Spread Of International Borders As A Prelude To The Spread Of International Borders During Covid-19, David E. Toohey
International Journal of Peace Studies
This article analyzes how Covid-19 has impacted borders and xenophobia. In particular, it looks at how four countries with generally right-wing politics, but not necessarily right-wing viewpoints, have used xenophobia to deal with Covid-19: The United States, Japan, Brazil, and Australia. This paper chronicles the expected rise in blaming other countries for the spread of Covid-19 with unexpected consequences. Rather than solidifying national borders and constituencies in the face of an international threat through xenophobia, right-wing countries have instead created a successful border creation process with little room to expand. The options seem to be a fragmentation of these countries …