Abstract
The most important factor in gauging the future development of the Tokyo capital market is the state of the capital surplus in Japan. A high rate of savings has caused a surplus of funds over the requirement for industrial equipment investment and has resulted in the infusion of these funds into the capital market, successfully financing the large Japanese fiscal deficit, lowering interest rates in general, and pushing up stock prices despite sizeable new issues of common stock. This phenomenon was first observed in 1980 and has been accelerating since.
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© 1990 Ecole des Hautes Etudes Commerciales
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Uemura, S. (1990). Future Developments of Japanese International Capital Markets. In: Mikdashi, Z. (eds) Bankers’ and Public Authorities’ Management of Risks. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-10980-7_13
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DOI: https://doi.org/10.1007/978-1-349-10980-7_13
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-10982-1
Online ISBN: 978-1-349-10980-7
eBook Packages: Palgrave Economics & Finance CollectionEconomics and Finance (R0)