IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this paper or follow this series

"Reform of Local Bonds System in Japan"(in Japanese)

  • Nobuki Mochida

    (Faculty of Economics, University of Tokyo)

Registered author(s):

    Japanese local bond system faced major challenge since the World War‡U. This paper shows accurately and widely as much as possible what the issue is, and investigates pros and cons to this from the viewpoint of finance. We argue that the change in last few years was fundamental rather than stopgap and it is the turning point since the US occupation period reform just after the Second World War. The driving forces for these reforms include three factors: decentralization, deregulation in financial sector and the deterioration of the financial conditions of the small local governments. We argue that the reform is basically advanced toward a preferable direction. However, it will take time for the local government and the institutional investor to become accustomed to new system as the player. Especially, small-scale municipalities with scarce fiscal resources would become disadvantageous as decentralization progresses.

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

    File URL: http://www.cirje.e.u-tokyo.ac.jp/research/dp/2007/2007cj183.pdf
    Download Restriction: no

    Paper provided by CIRJE, Faculty of Economics, University of Tokyo in its series CIRJE J-Series with number CIRJE-J-183.

    as
    in new window

    Length: 34 pages
    Date of creation: Aug 2007
    Date of revision:
    Handle: RePEc:tky:jseres:2007cj183
    Contact details of provider: Postal: Hongo 7-3-1, Bunkyo-ku, Tokyo 113-0033
    Phone: +81-3-5841-5644
    Fax: +81-3-5841-8294
    Web page: http://www.cirje.e.u-tokyo.ac.jp/index.html
    Email:


    More information through EDIRC

    No references listed on IDEAS
    You can help add them by filling out this form.

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    When requesting a correction, please mention this item's handle: RePEc:tky:jseres:2007cj183. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (CIRJE administrative office)

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.