role for the yen and greater access to these markets for foreign financial institutions through deregulation.In contrast to earlier studies of Japan's economic performance which concentrated on the role of the civil service, this book uncovers the dynamic features of the relationship between all the participants, private and public, in the policymaking process. In doing so, it fills a significant gap in the literature on the development of the Japanese economy by analysing how the political parties (particularly the LDP), the civil service (particularly the Ministry of Finance), a range of financial institutions and other corporate and non-corporate interests interact in the creation and implementation of regulatory policy.Financial markets, and the regulations which surround them, are of fundamental importance for every industrialised economy. This book provides a unique opportunity to scrutinise in detail the workings of these markets in a major world economic power.

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