Abstract
In the context of modern global trend of consistently high inflation rates and corresponding monetary tightening by the national regulators, monetary and anti-inflation actions, taken in Japan, look as a special case. The article reviews genesis and specific features of Japanese financial system, capital markets and functioning of financial institutions. The article shows how unique characteristics of Japanese financial system influenced monetary policy in the country at different stages of its development and conditioned to a significant extent a lower inflation rate in comparison with the other developed economies.
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