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Tokyo as a Leading Global Financial Center: The Vision Under the Spotlight Again

dc.contributor.authorSayuri Shirai
dc.date.accessioned2017-07-21T08:59:41Z
dc.date.available2017-07-21T08:59:41Z
dc.date.issued2017-07-01
dc.identifier.urihttp://hdl.handle.net/11540/7176
dc.description.abstractJapan has endeavored to develop its capital Tokyo as one of the top global financial centers for a long time. In 2014, the Tokyo Metropolitan Government presented new initiatives as part of the sustainable economic growth strategies by taking advantage of the global attention given to the 2020 Tokyo Olympic Games. 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 center that transfers excess capital to emerging Asia given its geographic proximity. So far, this vision has not fully materialized because Japan’s financial investment continues to be destined toward 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 money to the world. This paper takes an overview of Japan’s financial and capital market developments.
dc.languageEnglish
dc.publisherAsian Development Bank Institute
dc.titleTokyo as a Leading Global Financial Center: The Vision Under the Spotlight Again
dc.typeWorking Papers
dc.subject.expertInternational Financial Market
dc.subject.expertMultilateral Financial Institutions
dc.subject.expertEconomic Recession
dc.subject.expertMarket
dc.subject.expertCrisis
dc.subject.expertEconomic indicators
dc.subject.expertGrowth models
dc.subject.expertGross domestic product
dc.subject.expertMacroeconomics
dc.subject.expertEconomic forecast
dc.subject.adbFinancial Stability
dc.subject.adbFinancial Management System
dc.subject.adbFinancial Restructuring
dc.subject.adbCapital Market Development
dc.subject.adbMarket Development
dc.subject.adbEconomics
dc.subject.adbErosion
dc.subject.adbInternational Economics
dc.subject.adbMacroeconomic
dc.subject.adbMacroeconomic Analysis
dc.subject.adbPerformance Evaluation
dc.subject.adbImpact Evaluation
dc.subject.adbForeign and Domestic Financing
dc.subject.naturalBusiness recessions
dc.subject.naturalMultilateral development banks
dc.subject.naturalRegulatory reform
dc.subject.naturalCapital
dc.subject.naturalExports
dc.subject.naturalEconomic development projects
dc.subject.naturalEconomic policy
dc.subject.naturalEconomic forecasting
dc.title.seriesADBI Working Paper Series
dc.title.volumeNO. 758
dc.contributor.imprintAsian Development Bank Institute
oar.themeFinance
oar.themeEconomics
oar.adminregionAsia and the Pacific Region
oar.countryBangladesh
oar.countryBhutan
oar.countryIndia
oar.countryMaldives
oar.countryNepal
oar.countrySri Lanka
oar.countryBrunei Darussalam
oar.countryCambodia
oar.countryIndonesia
oar.countryLao People's Democratic
oar.countryMalaysia
oar.countryMyanmar
oar.countryPhilippines
oar.countrySingapore
oar.countryThailand
oar.countryViet Nam
oar.countryCook Islands
oar.countryFiji Islands
oar.countryKiribati
oar.countryMarshall Islands
oar.countryFederated States of Micronesia
oar.countryNauru
oar.countryPalau
oar.countryPapua New Guinea
oar.countrySamoa
oar.countrySolomon Islands
oar.countryTimor-Leste
oar.countryTonga
oar.countryTuvalu
oar.countryVanuatu
oar.countryAfghanistan
oar.countryArmenia
oar.countryAzerbaijan
oar.countryGeorgia
oar.countryKazakhstan
oar.countryKyrgyz Republic
oar.countryPakistan
oar.countryTajikistan
oar.countryTurkmenistan
oar.countryUzbekistan
oar.countryPeople's Republic of China
oar.countryHong Kong
oar.countryChina
oar.countryRepublic of Korea
oar.countryMongolia
oar.countryTaipei,China
oar.identifierOAR-006797
oar.authorShirai, Sayuri
oar.importTRUE
oar.googlescholar.linkpresenttrue


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  • ADBI Working Papers
    The Asian Development Bank Institute (ADBI) Working Paper series is a continuation of the formerly named Discussion Paper series which began in January 2003. The numbering of the papers continued without interruption or change. ADBI was established in 1997 in Tokyo, Japan, to help build capacity, skills, and knowledge related to poverty reduction and other areas that support long-term growth and competitiveness in developing economies in Asia and the Pacific.

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