Conquering the fear of freedom : Japanese exchange rate policy since 1945 / Shinji Takagi.

Format:

Book

Author/Creator:

Takagi, Shinji, author.

Language:

English

Subjects (All):

Foreign exchange rates--Japan.

Foreign exchange rates.

Japan--Economic policy--1945-.

Japan.

Physical Description:

1 online resource (333 p.)

Edition:

First edition.

Place of Publication:

Oxford : Oxford University Press, 2015.

Language Note:

English

Summary:

'Conquering the Fear of Freedom' presents an analytical review of Japanese exchange rate policy from the end of World War II to the present - how authorities, starting from imposing draconian controls over all international financial flows, moved toward eliminating virtually all state interference regulating foreign exchange transactions, including official intervention in the foreign exchange market. It describes how policy and institutional frameworks evolved, explains their domestic and international contexts, and assesses the impacts and consequences of policy actions.

Contents:

""Cover""; ""Conquering the Fear of Freedom: Japanese Exchange Rate Policy Since 1945""; ""Copyright""; ""Dedication""; ""Preface""; ""Contents""; ""List of Figures""; ""List of Tables""; ""List of Abbreviations""; ""Currency symbols""; ""1: Exchange Rate-Based Stabilization: 1945-50""; ""1.1. Introduction""; ""1.2. Features of Postwar Inflation""; ""1.2.1. Real, Monetary, and Price Developments""; ""1.2.2. Government Trade as a Source of Inflation""; ""1.3. Failed Attempts at Stabilization""; ""1.3.1. First Emergency Measures""; ""1.3.2. Fiscal Expansion Under Ishibashi""

""1.3.3. Second Emergency Measures""""1.3.4. Revising the Price Structure""; ""1.3.5. Measuring the Effectiveness of Price Controls""; ""1.4. A New Approach to Economic Stabilization""; ""1.4.1. Identifying the Underlying Causes of Inflation""; ""1.4.2. The Reverse Course in American Policy""; ""1.4.3. ``Essentials of Economic Stabilization ProgramÂ?Â?: July 1948""; ""1.4.4. ``Nine-Part Interim Directive on StabilizationÂ?Â?: December 1948""; ""1.5. The Dodge Stabilization Plan""; ""1.5.1. The Dodge Plan of 1949-51""; ""1.5.2. The Single Exchange Rate""

""1.5.3. The Dodge Plan as Exchange Rate-based Stabilization""""2: Achieving Current Account Convertibility: 1949-64""; ""2.1. Introduction""; ""2.2. The Trade and Payments System in the Early 1950s""; ""2.2.1. The Foreign Exchange and Trade Control Law of 1949""; ""2.2.2. The Operational Framework of Foreign Exchange and Trade Control""; ""2.2.3. The Foreign Exchange Budget (FEB)""; ""2.2.4. The Concentration Requirement""; ""2.2.5. Foreign Exchange Receipts and Payments""; ""2.2.6. Exchange Rates""; ""2.2.7. Methods of External Payment""

""2.3. The System of Trade Control in the Early 1950s""""2.3.1. Export Control""; ""2.3.2. The Import Licensing System""; ""2.3.3. Tools of Import Control""; ""2.3.4. The Special Exchange Fund Allocation System""; ""2.4. The Restrictive System as A Tool for External Adjustment""; ""2.4.1. The Balance-of-Payments Crisis of 1952-3""; ""2.4.2. The Balance-of-Payments Crisis of 1956-7""; ""2.5. Moving Toward Liberalization of the System""; ""2.5.1. Changes in the Currency Area Classification""; ""2.5.2. Changes in the System of Export Control""; ""2.5.3. Changes in the Import Licensing System""

""2.6. Foreign Trade and Foreign Exchange Market Activity""""2.6.1. Expansion of JapanÂ?s Foreign Trade""; ""2.6.2. Expansion of Foreign Exchange Market Activity""; ""2.6.3. Evolution of the YenÂ?s Real Exchange Rate""; ""2.7. Trade and Exchange Liberalization in The Early 1960s""; ""2.7.1. The ``Plan for Trade and Exchange LiberalizationÂ?Â?""; ""2.7.2. The Balance-of-Payments Crisis of 1961-2""; ""2.7.3. Moving Toward Termination of the Restrictive System""; ""3: Capital Account Liberalization: 1950-80""; ""3.1. Introduction""

""3.2. An Overview of JapanÂ?s Capital Account Liberalization: 1950-80""

Notes:

Description based upon print version of record.

Includes bibliographical references and indexes.

Description based on print version record.

Description based on publisher supplied metadata and other sources.

ISBN:

0-19-178289-0

0-19-102406-6

OCLC:

906025814