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Characteristics of the ‘Traditional’ Japanese and Anglo-American Financial Systems

In: Japan’s Financial Slump

Author

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  • Yasushi Suzuki

    (Ritsumeikan Asia Pacific University)

Abstract

With diverse histories, technologies and attitudes towards risk-taking, different financial systems have a common factor, which is to ensure financial stability and efficiency within a geographical region. There are, however, differences between various financial systems, which are a result of their evolution and their adaptation to their surrounding environment. The financial systems that we describe as the Japanese traditional or ‘bank-led’ system and the Anglo-American financial system are in many ways fundamentally different. Aoki (1994), Davis (1995), Dore (2000) and Stiglitz (1994, 2003), among others, have made useful comparative analyses of the economic and financial systems of Japan and the United States; in particular, between the Japanese ‘main bank’ system and the Anglo-American securities-based financial system.

Suggested Citation

  • Yasushi Suzuki, 2011. "Characteristics of the ‘Traditional’ Japanese and Anglo-American Financial Systems," Palgrave Macmillan Studies in Banking and Financial Institutions, in: Japan’s Financial Slump, chapter 3, pages 49-76, Palgrave Macmillan.
    • Handle: RePEc:pal:pmschp:978-0-230-30770-4_3
    DOI: 10.1057/9780230307704_3
    as

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