Title Conquering the fear of freedom : Japanese exchange rate policy since 1945 / Shinji Takagi

Edition First edition Published Oxford : Oxford University Press, 2015

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Description 1 online resource : illustrations (black and white) Contents Machine generated contents note: 1. Exchange Rate-Based Stabilization: 1945 -- 50 -- 1.1. Introduction -- 1.2. Features of Postwar Inflation -- 1.3. Failed Attempts at Stabilization -- 1.4.A New Approach to Economic Stabilization -- 1.5. The Dodge Stabilization Plan -- 2. Achieving Current Account Convertibility: 1949 -- 64 -- 2.1. Introduction -- 2.2. The Trade and Payments System in the Early 1950s -- 2.3. The System of Trade Control in the Early 1950s -- 2.4. The Restrictive System as a Tool for External Adjustment -- 2.5. Moving Toward Liberalization of the System -- 2.6. Foreign Trade and Foreign Exchange Market Activity -- 2.7. Trade and Exchange Liberalization in the Early 1960s -- 3. Capital Account Liberalization: 1950 -- 80 -- 3.1. Introduction -- 3.2. An Overview of Japan's Capital Account Liberalization: 1950 -- 80 -- 3.3. Official and Government-Mediated Flows -- 3.4. Managing Short-Term Flows -- 3.5. Foreign Direct Investment -- 3.6. Portfolio and Other Investments Note continued: 3.7. Achieving Capital Account Convertibility -- 4. Managing Flexibility: 1971 -- 90 -- 4.1. Introduction -- 4.2. An Overview of Exchange Rate Policy: 1971 -- 90 -- 4.3. The Currency Crises -- 4.4. The Oil Crises -- 4.5. International Policy Coordination -- 4.6. Economic Consequences of the Higher Yen -- 5. Internationalizing the Yen: 1981 -- 2003 -- 5.1. Introduction -- 5.2. The Origins of Yen Internationalization -- 5.3. Early Attempts at Financial Liberalization -- 5.4. Yen Internationalization Efforts -- 5.5.Completing the Internationalization Agenda -- 6. Foreign Exchange Market Intervention: 1991 -- 2011 -- 6.1. Introduction -- 6.2. An Overview of Foreign Exchange Intervention in Japan -- 6.3. Intervention to Lean Against the Wind: 1991 -- 2000 -- 6.4. Foreign Exchange Intervention and Monetary Policy: 2001 -- 4 -- 6.5.A New Manner of Intervening in the Foreign Exchange Market: 2010 -- 11 -- 6.6. The Channels of Intervention Effectiveness Note continued: 7. Retrospective and Prospective Issues in Japanese Exchange Rate Policy -- 7.1. Introduction -- 7.2. Characterizing Japanese Exchange Rate Policy -- 7.3. Lessons from the Japanese Experience -- 7.4. Current and Prospective Issues -- 7.5. Monetary Policy under Abenomics Summary 'Conquering the Fear of Freedom' presents an analytical review of Japanese exchange rate policy from the end of World War II to the present - how authorities, starting from imposing draconian controls over all international financial flows, moved toward eliminating virtually all state interference regulating foreign exchange transactions, including official intervention in the foreign exchange market. It describes how policy and institutional frameworks evolved, explains their domestic and international contexts, and assesses the impacts and consequences of policy actions Bibliography Includes bibliographical references and index Notes Online resource; title from home page (viewed on April 21, 2015) Subject Monetary policy -- Japan -- History -- 20th century Monetary policy -- Japan -- History -- 21st century Foreign exchange rates -- Japan -- History -- 20th century Foreign exchange rates -- Japan -- History -- 21st century BUSINESS & ECONOMICS -- Industries -- General. BUSINESS & ECONOMICS -- Foreign Exchange. POLITICAL SCIENCE -- Public Policy -- Economic policy. Economic policy Foreign exchange rates Monetary policy SUBJECT Japan -- Economic policy -- 20th century Japan -- Economic policy -- 21st century Subject Japan Genre/Form History Form Electronic book ISBN 9780191782893 0191782890 9780191024061 0191024066

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