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This book analyzes how the bank-dominated financial system—a key element ofthe oft-heralded "Japanese economic model"—broke down in the 1990s and spawned sweepingreforms.
The contributions in this book provide a unique view of its emergence and growth in a number of different national settings in an area of the Third World where the industry is most advanced. In The Political Economy of Japanese Monetary Policy, Cargill, Hutchison, and Ito investigate the formulation and execution of monetary and financial policies in Japan within a broad technical, political, and institutional context.Their emphasis is on the period since the collapse of the Bretton Woods system of fixed exchange rates in the early 1970s, and on the effects of policies and institutions in shaping the modern Japanese economy. The authors present basic themes and recent developments, as well a...
This book analyzes how the bank-dominated financial system—a key element of the oft-heralded "Japanese economic model"—broke down in the 1990s and spawned sweeping reforms. Japan's financial institutions and policy underwent remarkable change in the past decade. The country began the 1990s with a heavily regulated financial system managed by an unchallenged Ministry of Finance and ended the decade with a Big Bang financial market reform, a complete restructuring of its regulatory financial institutions, and an independent central bank. These reforms have taken place amid recession and rising unemployment, collapsing asset prices, a looming banking crisis, and the lowest interest rates in...
Experts on the Japanese economy examine Japan's prolonged period of economic underperformance, analyzing the ways in which the financial system, monetary policy, and international financial factors contributed to its onset and duration. After experiencing spectacular economic growth and industrial development for much of the postwar era, Japan plunged abruptly into recession in the early 1990s and since then has suffered a prolonged period of economic stagnation, from which it is only now emerging. Japan's malaise, marked by recession or weak economic activity, commodity and asset price deflation, banking failures, increased bankruptcies, and rising unemployment, has been the most sustained ...
A textbook on clinical skills. It provides a source of learning and reference for undergraduate medical students and postgraduate doctors. It seeks to teach an integrated approach to clinical practice, so that new methods and investigations are grafted onto established patterns of clinical practice, rather than added on as something extra.
Scientists have learned more about the brain in the last decade than in all of previous history, and the implications of the latest research are clear: The human brain is far more powerful, and has the potential for immensely greater growth and transformation, than was ever before imagined. These discoveries may constitute the most significant development in learning since the invention of writing. Michael Hutchison captures all the drama, excitement, and adventure as we finally begin to comprehend the most mysterious and complex structure in the universe, the source of human culture, a still untapped reservoir of power and skills. He looks at the recently developed machines and devices that may soon allow us to increase brain size and intelligence; regenerate brain cells; trigger specific brain states such as euphoria, long- and short-term memory, sexual excitement, and creativity; and control the brain's electrical activity in order to alter such "involuntary" mechanisms as blood pressure, heart rate, and the secretion of hormones. Megabrain is a lucid and lively account of where the pioneers in brain research are headed -- and where they are taking us.
Oyster is the second collection from prize-winning Edinburgh poet Michael Pedersen.From Grez-sur-Loing and festive nights to sizzling summers stretched out in the Meadows and Portobello, Michael Pedersen's unique brand of poetry captures a debauchery and a disputation of characters, narrated with an intense honesty and a love of language that is playful, powerful and penetrative; he vividly illuminates scenes with an energy that is both witty, humourous but also deeply intelligent. Oyster is iced, spiced, baked and beaming for your pleasure.Oyster features bespoke illustrations from Frightened Rabbit lead singer and songwriter Scott Hutchison.
'As if Bill Bryson had taken to two wheels' - FT Somewhere in a German forest 200 years ago, during the darkest, wettest summer for centuries, the story of cycling began. The calls to ban it were more or less immediate. Re:Cyclists is the tale of the following two centuries. It tells how cycling became a kinky vaudeville act for Parisians, how it was the basis of an American business empire to rival Henry Ford's, and how it found a unique home in the British Isles. The Victorian love of cycling started with penny-farthing riders, who explored lonely roads that had been left abandoned by the coming of the railways. Then high-society took to it - in the 1980s the glittering parties of the Lond...
The management of financial crises in emerging markets is a vital and high-stakes challenge in an increasingly global economy. For this reason, it's also a highly contentious issue in today's public policy circles. In this book, leading economists-many of whom have also participated in policy debates on these issues-consider how best to reduce the frequency and cost of such crises. The contributions here explore the management process from the beginning of a crisis to the long-term effects of the techniques used to minimize it. The first three chapters focus on the earliest responses and the immediate defense of a currency under attack, exploring whether unnecessary damage to economies can b...