The Japanese Central Banking System Compared with Its European and American Counterparts

A New Institutional Economics Approach

Yoshiharu Oritani (Autor)

Buch | Softcover

327 Seiten

2020 | 1st ed. 2019
Springer Verlag, Singapore
978-981-13-9003-6 (ISBN)

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This book uniquely explores the role and governance mechanism of central banks by applying new institutional economics (NIE). Simultaneously, the book tests the analytical viability of NIE when applied to an organization that has both public and private characteristics. Special attention is paid to the Bank of Japan (BOJ) based on the author’s 30 years of work experience and “participant observation” there, touching upon discussion of central bank independence. The book argues that central bank independence cannot be defended solely by law, and a mechanism to eliminate requests from politicians needs to be embedded within the governance structure.

The book also provides a comparative analysis between the BOJ and central banks in Europe and the USA. In reviewing the global financial crisis of 2008–2009, it suggests possible measures based on behavioral economics and public choice theory. These theory-based analyses provide useful insights when considering matters such as whether a central bank should issue electronic money or the European system of central banks could be established in Asia.

Foreword.- Preface.- Acknowledgements.- 1 Rationale of Central Banks.- 2 Governance Structure of Central Banks.-3 Public Governance of Central Banks.- 4 Governance of Monetary Policy.- 5 Ownership of Prudential Policy.- 6 Role of Central Banks in Financial Crisis Management.- 7 Scope and Governance of Central Bank Payment and Settlement Systems.- 8 Epilogue.

“This book has no equal in comprehensively reviewing the implications of new microeconomic theory for central banking. … Because of its comprehensiveness and the clarity of its summaries of these new theories, this book is likely to become a lasting reference. This is aided by the very methodical layout, the extensive bibliography (including many Japanese publications, whose key points are summarised in the text) and a good index.” (Philip Turner, Central Banking Journal, December 3, 2019)

Erscheinungsdatum	02.08.2020
Übersetzer	Kazuyo W. Tanimoto
Zusatzinfo	53 Illustrations, black and white; XXIV, 327 p. 53 illus.
Verlagsort	Singapore
Sprache	englisch
Original-Titel	Chuo Ginko Seido no Keizaigaku (Institutional Economics of Central Banking Systems)
Maße	155 x 235 mm
Themenwelt	Geschichte ► Teilgebiete der Geschichte ► Wirtschaftsgeschichte
	Wirtschaft ► Allgemeines / Lexika
	Wirtschaft ► Betriebswirtschaft / Management ► Finanzierung
	Betriebswirtschaft / Management ► Spezielle Betriebswirtschaftslehre ► Bankbetriebslehre
	Wirtschaft ► Volkswirtschaftslehre ► Finanzwissenschaft
	Wirtschaft ► Volkswirtschaftslehre ► Makroökonomie
Schlagworte	Bank of Issue • Bank of Japan • central bank organization • Central Banks • Financial Crisis Management • payment and settlement systems • Transaction Cost Economics
ISBN-10	981-13-9003-7 / 9811390037
ISBN-13	978-981-13-9003-6 / 9789811390036
Zustand	Neuware