April 23, 2001
Michael Hutchison, professor of economics, has coauthored a new book on Japanese financial policy. Published by MIT Press, Financial Policy and Central Banking in Japan is Hutchison's second book on the topic with coauthors Thomas Cargill and Takatoshi Ito. Cargill is a professor of economics at the University of Nevada at Reno, and Ito, a professor of economics at the Institute of Economic Research at Hitotsubashi University, was recently appointed deputy minister of finance in Japan.
The book examines the dominant banking and financial system in Japan, which broke
down in the 1990s and sparked huge reforms. The authors also evaluate the new financial
structure and reforms.