An Agenda for Japan and the United States

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December 7-9, 2001 • Gotemba, Japan

The fourth annual Japan-U.S. Symposium took place in Gotemba, Japan at what appeared to be a critical time for the Japanese financial system. Stagnant economic growth, declining stock prices, increasing non-performing loans (NPLs), and high levels of bankruptcies in the real economy made for serious concerns among participants. Uncertainty about the government’s intentions regarding NPL disposal, the impending ¥10 million limit on deposit insurance payouts (the “payoff” issue), and willingness to shut down insolvent financial institutions also remained a problem. Finally, the slowdown of the U.S. economy, particularly in the aftermath of the September 11 attacks, created some fears both for the health of the U.S. financial sector and for the negative effects on the economies of Japan and its Asian neighbors. Indeed, it was pointed out that this was the first time since the late 1970s that North America, Japan, and Europe were all experiencing slowdowns simultaneously, making for an unusually precarious time for the world economy. Discussion of financial restructuring focused for the most part on the ...more...

Topics
•  Financial Restructuring (Government, Banks, Debtors)
•  The Regulation of Capital Markets
•  Stock Exchange Competition

Symposium Materials
Agenda
Final Report
To request a list of participants, please contact Dan McCardell, Deputy Director, PIFS.

We offer our gracious thanks to the 2001 Japan-U.S. Symposium sponsors for their generous support of this year's event. Please click here to view our sponsoring organizations.