Financing the Japanese Industries: Industrial Policies of The Financial Ministry and Financial Policies of The Industrial Ministry

Author(s):  
Masaru Mabuchi
Author(s):  
José Antonio Ocampo

The main argument of this chapter is that the key to rapid economic growth is the dynamic efficiency of economic structures, defined as their capacity to generate new waves of innovative activities. After reviewing the empirical literature that confirms this view, the chapter argues that the dynamics of production structures may be visualized as the interaction between two basic forces: innovations (broadly defined) and the learning processes associated with them; and the complementarities, linkages, or networks among firms and production sectors. The chapter then analyses the specific structural transformation challenges that natural resource-dependent economies face. It finally argues that industrial policies should be accompanied by appropriate macroeconomic and financial policies that should guarantee in particular a competitive and stable real exchange rate and long-term financing for innovative activities, with a crucial role for national development banks.


2009 ◽  
pp. 70-93
Author(s):  
V. Manevich

The paper considers the monetary dynamic model developed by J. Tobin, the leader of Keynesian economic thought in 1970-1990. Particularly, the author examines q-theory of investment proposed by Tobin which allows to expose the relationship between supply of monetary assets and investment in real capital. Application of various tools of monetary and financial policies is also considered in its different forms. The author aspires to use Tobin's model for the analysis of processes existing in the Russian economy and to test theoretical propositions and relationships elaborated by Tobin on Russian statistics.


Asian Survey ◽  
1982 ◽  
Vol 22 (7) ◽  
pp. 638-658 ◽  
Author(s):  
Robert C. Hsu
Keyword(s):  

Author(s):  
Nguyen Cam Nhung

This paper assesses the impacts of financial integration in the Asia Economic Community (AEC) on the capacity of finance and provision of financial services of Vietnamese commercial banks. In recent years, Vietnamese commercial banks have achieved some successes as reflected in the growth indicators of operation scales, charter capital and total assets. However, under the pressure of integration, the capital adequacy ratio (CAR) fell slightly in 2016 resulting from the applying of the CAR calculation method to commercial banks in accordance with the new regulations towards step by step approaching international standards. Compared to other countries in the AEC, the capacity of finance and provision of financial services of the Vietnamese commercial banks remains low. As a result, it is necessary to carry out synchronous and drastic measures in the coming time to enhance the competitiveness of the Vietnamese commercial banks. Keywords Competitiveness, financial integration, AEC, commercial bank, Vietnam References [1] UNCTAD, World Investment Report 2018: Investment and New Industrial Policies, June 2018.[2] Cục Đầu tư nước ngoài, “Tình hình thu hút Đầu tư nước ngoài 8 tháng năm 2018”, 2018, http://fia.mpi.gov.vn/tinbai/6045/Tinh-hinh-thu-hut-Dau-tu-nuoc-ngoai-8-thang-nam-2018.[3] Google and Temasek, “e-Conomy SEA Spotlight 2017: Unprecedented growth for Southeast Asia’s $50B internet economy, 2017”, 2017.[4] Tô Thị Thanh Trúc, “Khu vực tài chính Việt Nam trong bối cảnh hội nhập tài chính ASEAN”, Tạp chí Phát triển Khoa học và Công nghệ, 19 (2016) Q1, 2016.[5] Phạm Xuân Hoan, Nguyễn Cẩm Nhung, Nguyễn Bích Thủy, “Ngân hàng TMCP Ngoại thương Việt Nam: Chủ động đón AEC”, Tạp chí Kinh tế và Dự báo, Số 2 tháng 1/2016.[6] Phạm Xuân Hoan, Nguyễn Cẩm Nhung, Nguyễn Bích Thủy, “Khả năng thích ứng của các ngân hàng thương mại Việt Nam khi tham gia hội nhập AEC”, Tạp chí Tài chính, Kỳ 1 tháng 12/2015 (622).[7] Trần Thị Vân Anh, “Ngân hàng Việt Nam trong tiến trình gia nhập Cộng đồng Kinh tế ASEAN”, Tạp chí Khoa học Xã hội Việt Nam, 4 (2016) 101.[8] Nguyễn Thị Diễm Hiền, “Một số vấn đề về ngân hàng thương mại khi Việt Nam gia nhập Cộng đồng Kinh tế Asean”, Tạp chí Phát triển Khoa học và Công nghệ, 19 (2016) Q1, 2016.[9] Blattner N., “Competitiveness of Banks”, Journal of Financial Economics, N.21 (1992).[10] PwC Growth Markets Centre, The Future of ASEAN - Time to Act Financial Services, 2018.


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