Abstract

Japanese institutions are now central to the world financial services revolution. The most obvious signs of this centrality are the sheer size of Japanese financial services firms and their astonishing success in world markets in the 1980s. Japanese banks dominate the standard rankings of the world’s largest banks. Japanese institutions now have a larger market share than do their American rivals in London, the world’s leading international banking centre outside Japan. Three of the five top underwriters in the Eurobond market in 1987 were Japanese (Nomura, Daiwa and Yamaichi).1 By most measures of stock value Tokyo is the world’s leading stock exchange. During the 1980s Japan emerged as the world’s leading creditor nation, playing a central role in funding the American Federal deficit.

Talk to us

Join us for a 30 min session where you can share your feedback and ask us any queries you have

Schedule a call

Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.