Abstract

Abstract In this chapter, we consider the role of the PSS and FILP in Japan’s financial system from three perspectives. The chapter first quantifies the role of the PSS and the FILP in Japanese finance by reviewing selected flow-of-funds statistics for each institution and identifying trends with an emphasis on the post war period. This review will reveal the longstanding importance of the PSS and the FILP in Japan’s financial system and the continued growth of government intermediation after 1975, despite an official policy of financial liberalization.

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