Jump to ContentJump to Main Navigation
International Financial Centres after the Global Financial Crisis and Brexit$
Users without a subscription are not able to see the full content.

Youssef Cassis and Dariusz Wójcik

Print publication date: 2018

Print ISBN-13: 9780198817314

Published to Oxford Scholarship Online: August 2018

DOI: 10.1093/oso/9780198817314.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2019. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 21 November 2019

Tokyo

Tokyo

Still Below its Potential as a Global Financial Centre

Chapter:
(p.182) 9 Tokyo
Source:
International Financial Centres after the Global Financial Crisis and Brexit
Author(s):

Sayuri Shirai

Publisher:
Oxford University Press
DOI:10.1093/oso/9780198817314.003.0009

Japan has endeavoured to develop its capital Tokyo as one of the top global financial centres. Japan’s advantages are the sheer size of its economy (the third largest in terms of gross domestic product), the status of the Japanese yen as the third international currency after the United States dollar and the euro, and large financial and capital markets with abundant capital. Tokyo has the potential to become a regional financial centre that transfers excess capital to emerging Asian economies. This vision has not fully materialized because Japan’s financial investment continues to be destined towards the United States and Europe and in the form of relatively safe debt securities. Moreover, Japan’s capital remains largely risk-averse, contributing to lack of diversity in domestic capital markets and limited provision of risk capital to the world. This chapter takes an overview of Japan’s financial and capital market developments.

Keywords:   Tokyo, Japanese economy, regional financial centre, financial market development, capital market development

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .