This book is a fascinating analysis of the past, present, and future of the Japanese financial system. It sheds a great deal of light on Japan's current troubles and their potential solution.(Ben S. Bernanke, Howard Harrison and Gabrielle Snyder Beck Professor of Economics and Public Affairs, Princeton University)
Hoshi and Kashyap crystallize much of their high-quality research in this book. Corporate Financing and Government in Japan tells of the rise and fall of banking dominance over Japanese corporations with historical accounts, economic theory, and summaries of empirical analysis. The book will be an authoritative read for a wide-ranging audience, including college students, MBA students, and scholars in the field.(Takatoshi Ito, Professor, Hitotsubashi University)
Hoshi and Kashyap are most reliable students of the Japanese financial system, and the publication of their book is extremely timely and welcome. Corporate Financing and Governance in Japan places the present Japanese crisis in a historical perspective using rich historical data and interesting case studies, provides its diagnosis with advanced analytical concepts, and thoughtfully lays out a possible future course for the Japanese system. It is a pleasantly readable, informative, and insightful book.(Masahiko Aoki, Professor Emeritus, Stanford University, and President-Elect, the International Economic Association)
About the Author
Anil Kashyap is Professor of Economics in the Graduate School of Business at the University of Chicago.
Takeo Hoshi is Professor of Economics in the Graduate School of International Relations and Pacific Studies at the University of California, San Diego.