Capturing Benefits, Avoiding Losses: the United States, Japan and the Politics of Constraint

Author:

Cerny Philip G.

Publisher

Palgrave Macmillan UK

Reference5 articles.

1. The best overall comparative political economy treatments of regulatory systems in general, and financial systems in particular, are John Zysman’s classic Governments, Markets, and Growth: Financial Systems and the Politics of Industrial Change (Ithaca, New York: Cornell University Press, 1983);

2. Steven K. Vogel’s Freer Markets, More Rules: Regulatory Reform in Advanced Industrial Countries (Ithaca, New York: Cornell University Press, 1996);

3. and Henry Laurence’s Money Rules: The New Politics of Finance in Britain and Japan (Ithaca, New York: Cornell University Press, 2001). More recently, however, Susanne Lütz’s comparative study of the United States, Britain, and Germany is the definitive comparative work (although it doesn’t include Japan): ‘Convergence Within National Diversity: The Regulatory State in Finance’, Journal of Public Policy 24(2) (August 2004), 169–19.

4. On the United States, see the author’s ‘Money and Power: The American Financial System from Free Banking to Global Competition’, in Grahame Thompson (ed.), Markets, vol. 2 of The United States in the Twentieth Century (London: Hodder and Stoughton for the Open University, 2nd edition, 2000) pp. 169–207, and Helen A. Garten, US Financial Regulation and the Level Playing Field (Basingstoke: Palgrave, 2001).

5. On Japan, see the authoritative works of Richard Katz: Japan, The System That Soured: The Rise and Fall of the Japanese Miracle (Armonk, NY and London: M.E. Sharpe, 1998); and its sequel, Japanese Phoenix: The Long Road to Economic Revival (M.E. Sharpe, 2003), as well as the author’s ‘Governance, Globalization and the Japanese Financial System: Resistance or Restructuring?’, in Glenn Hook (ed.), Contested Governance in Japan (London: Routledge, 2005).

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