In recent years, Japan's financial market has seen dramatic changes, in particular the explosive growth of currency trading and the increasing international role of the yen. This book gives a comprehensive overview of this activity. This work is the first non-Japanese language title to examine the prolific rise of Japan's foreign currency exchange market, its idiosyncracies, and its future role in the global economy. It is vital reading for economists and students of Japan-related subjects.
In recent years, Japan's financial market has seen dramatic changes, in particular the explosive growth of currency trading and the increasing international role of the yen. This book gives a comprehensive overview of this activity. This work is the first non-Japanese language title to examine the prolific rise of Japan's foreign currency exchange market, its idiosyncracies, and its future role in the global economy. It is vital reading for economists and students of Japan-related subjects.Hinweis: Dieser Artikel kann nur an eine deutsche Lieferadresse ausgeliefert werden.
INTRODUCTION MARKET HISTORY, Early beginning of money in Japan Meiji Restoration and the birth of Yen Post-war developments Market liberalisation In the aftermath of the bubble GENERAL CHARACTERISTICS, Market participants Foreign exchange banks and brokers Customers, Market segments and transactions Spot and forward markets The role of foreign exchange swaps, Futures and options Attitudes towards risks Covering and Hedging Position taking and arbitrage, Trading Techniques Accounting THE RISKS Market risks Measures of variability Some stylised facts Limits to forecastibility Derivatives Asymmetries and Nonlinearities Risk management practices Market linkages and operational risks Payment system risks, Major payment systems Private sector initiatives POLICY ISSUES Market regulation Principles of bank regulation Exchange restrictions Risk monitoring and risk provision Exchange rate stabilisation Central bank interventions International policy co-operation CONCLUSION Bibliogrpahy
INTRODUCTION MARKET HISTORY, Early beginning of money in Japan Meiji Restoration and the birth of Yen Post-war developments Market liberalisation In the aftermath of the bubble GENERAL CHARACTERISTICS, Market participants Foreign exchange banks and brokers Customers, Market segments and transactions Spot and forward markets The role of foreign exchange swaps, Futures and options Attitudes towards risks Covering and Hedging Position taking and arbitrage, Trading Techniques Accounting THE RISKS Market risks Measures of variability Some stylised facts Limits to forecastibility Derivatives Asymmetries and Nonlinearities Risk management practices Market linkages and operational risks Payment system risks, Major payment systems Private sector initiatives POLICY ISSUES Market regulation Principles of bank regulation Exchange restrictions Risk monitoring and risk provision Exchange rate stabilisation Central bank interventions International policy co-operation CONCLUSION Bibliogrpahy
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