TITLE

The Creation of a Domestic Commercial Paper Market in Japan

AUTHOR(S)
Kosugi, Takeo; Dickinson, Steven M.
PUB. DATE
January 1989
SOURCE
Columbia Journal of Transnational Law;1989, Vol. 27 Issue 1, p91
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
The article discusses the creation of a domestic commercial paper market in Japan. Commercial paper is an unsecured financial device that allows businesses to increase funds directly in the short-term financial markets as an alternative to infrequent or more expensive bank loans. It states that the introduction of commercial paper in the country has been influenced by the internationalization of its financial market, the expansion of the short-term financial market, the needs of business and the trend towards issuance of unsecured bonds. According to the author, the continuing conflict between banks and securities firms shaped the process of introducing commercial paper into the country.
ACCESSION #
27671915

 

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