Takeo Hoshi
Biographic Data
| ID | 3960670 |
|---|---|
| NAME | Takeo Hoshi |
| GIVEN NAMES | Takeo |
| FAMILY NAME | Hoshi |
| SIGNATURE | HOSHI T |
| AFFILIATIONS | University of California San Diego |
| ORCID | 0000-0002-2487-5245 |
| VERIFIED | Yes |
| TOTAL WORKS | 8 |
| TOTAL CITATIONS | 9 |
| WORKS AS AUTHOR | 6 |
| WORKS AS EDITOR | 2 |
| FIRST PUBLICATION YEAR | 1991 |
| LATEST PUBLICATION YEAR | 2021 |
| H-INDEX | 1 |
The Political Economy of the Abe Government and Abenomics Reforms
This volume seeks to explain the political economy of the Abe government and the so-called 'Abenomics' economic policies. The Abe government represents a major turning point in postwar Japanese political economy. In 2019, Abe became the longest serving Prime Minister in Japanese history. Abe's government stood out not only for its longevity, but also for its policies. Abe came to power promising to reinvigorate Japan's economy under the banner of…
Implementing Structural Reforms in Abenomics
Improving the environment for business is an important part of the growth strategy of Abenomics. As the goal for this effort, the Abe Administration aims to improve Japan's rank in the World Bank Doing Business Ranking to one of the top three among OECD. This paper clarifies what it takes for Japan to achieve the goal. By looking at details of the World Bank Doing Business ranking, we identify various reforms that Japan could implement to improve…
Listing Policy and Development of the Tokyo Stock Exchange in the Prewar Period
During the first forty years since the establishment of the Tokyo Stock Exchange (TSE) in 1878 the market was relatively small and the listed firms were concentrated in the areas close to Tokyo. This chapter examines why the TSE stayed relatively stagnant during the first forty years and why it suddenly took off in the late 1910s. It identifies a small change in the TSE's policy toward listing in its stock market in 1918. Before 1918, the firms h…
Zombie Lending and Depressed Restructuring in Japan
Large Japanese banks often engaged in sham loan restructurings that kept credit flowing to otherwise insolvent borrowers (which we call zombies). We examine the implications of suppressing the normal competitive process whereby the zombies would shed workers and lose market share. The congestion created by the zombies reduces the profits for healthy firms, which discourages their entry and investment. We confirm that zombie-dominated industries e…
The Fable of the Keiretsu
In this book, Miwa Yoshiro and Mark Ramseyer argue that most of what we think we know about the Japanese economy are lies. ‘Our collective vision of Japan is a mirage’ (p. 160), they conclude. The institutions that we thought important for the Japanese economy are not just irrelevant; they never existed at all. The keiretsu (groups comprised of large Japanese firms that often share the group name, such as Mitsubishi and Sumitomo) were really not …
Japan's Financial Crisis and Economic Stagnation
We survey the macroeconomic stagnation and financial problems in Japan. The financial sector assessment includes separate analyses of the commercial banks, the life insurance companies and the government's fiscal investment and loan program (FILP). We estimate that the Japanese taxpayer will have to pay at least another ¥100 trillion (20% of GDP) to cover financial system losses. We explain how the current dysfunctional Japanese banking system mi…
Crisis and Change in the Japanese Financial System
Corporate Structure, Liquidity, and Investment
This paper presents evidence suggesting that information and incentive problems in the capital market affect investment. We come to this conclusion by examining two sets of Japanese firms. The first set has close financial ties to large Japanese banks that serve as their primary source of external finance and are likely to be well informed about the firm. The second set of firms has weaker links to a main bank and presumably faces greater problem…
Japan's Financial Crisis and Economic Stagnation
We survey the macroeconomic stagnation and financial problems in Japan. The financial sector assessment includes separate analyses of the commercial banks, the life insurance companies and the government's fiscal investment and loan program (FILP). We estimate that the Japanese taxpayer will have to pay at least another ¥100 trillion (20% of GDP) to cover financial system losses. We explain how the current dysfunctional Japanese banking system mi…
Corporate Structure, Liquidity, and Investment
This paper presents evidence suggesting that information and incentive problems in the capital market affect investment. We come to this conclusion by examining two sets of Japanese firms. The first set has close financial ties to large Japanese banks that serve as their primary source of external finance and are likely to be well informed about the firm. The second set of firms has weaker links to a main bank and presumably faces greater problem…
Crisis and Change in the Japanese Financial System
Japan's Financial Crisis and Economic Stagnation
We survey the macroeconomic stagnation and financial problems in Japan. The financial sector assessment includes separate analyses of the commercial banks, the life insurance companies and the government's fiscal investment and loan program (FILP). We estimate that the Japanese taxpayer will have to pay at least another ¥100 trillion (20% of GDP) to cover financial system losses. We explain how the current dysfunctional Japanese banking system mi…
Zombie Lending and Depressed Restructuring in Japan
Large Japanese banks often engaged in sham loan restructurings that kept credit flowing to otherwise insolvent borrowers (which we call zombies). We examine the implications of suppressing the normal competitive process whereby the zombies would shed workers and lose market share. The congestion created by the zombies reduces the profits for healthy firms, which discourages their entry and investment. We confirm that zombie-dominated industries e…
The Fable of the Keiretsu
In this book, Miwa Yoshiro and Mark Ramseyer argue that most of what we think we know about the Japanese economy are lies. ‘Our collective vision of Japan is a mirage’ (p. 160), they conclude. The institutions that we thought important for the Japanese economy are not just irrelevant; they never existed at all. The keiretsu (groups comprised of large Japanese firms that often share the group name, such as Mitsubishi and Sumitomo) were really not …
Listing Policy and Development of the Tokyo Stock Exchange in the Prewar Period
During the first forty years since the establishment of the Tokyo Stock Exchange (TSE) in 1878 the market was relatively small and the listed firms were concentrated in the areas close to Tokyo. This chapter examines why the TSE stayed relatively stagnant during the first forty years and why it suddenly took off in the late 1910s. It identifies a small change in the TSE's policy toward listing in its stock market in 1918. Before 1918, the firms h…
Implementing Structural Reforms in Abenomics
Improving the environment for business is an important part of the growth strategy of Abenomics. As the goal for this effort, the Abe Administration aims to improve Japan's rank in the World Bank Doing Business Ranking to one of the top three among OECD. This paper clarifies what it takes for Japan to achieve the goal. By looking at details of the World Bank Doing Business ranking, we identify various reforms that Japan could implement to improve…
The Political Economy of the Abe Government and Abenomics Reforms
This volume seeks to explain the political economy of the Abe government and the so-called 'Abenomics' economic policies. The Abe government represents a major turning point in postwar Japanese political economy. In 2019, Abe became the longest serving Prime Minister in Japanese history. Abe's government stood out not only for its longevity, but also for its policies. Abe came to power promising to reinvigorate Japan's economy under the banner of…
Economics (7 works) · Banking stability, regulation, efficiency (5 works) · Business (5 works) · Monetary economics (5 works) · Finance (4 works) · Financial system (4 works) · Japanese History and Culture (3 works) · Market economy (3 works) · Corporate Finance and Governance (2 works) · Financial crisis (2 works)