The Study On The Order Of Japan's Financial Liberalization

When the economic crisis sweeping the whorld, people have interpreted its occurrence reasons, and offer advice and suggestions. With the trend of global economic integration financial liberalization is inevitable. while its role in promoting economic development has long been recognized, but financial liberalization also vulnerable to a crisis in the fuse. Select a reasonable order of financial liberalization is the key. The order of Japan's financial liberalization Since the 1980s provide us some experiences and lessons to learn.With normative analysis and empirical analysis methods, combing the Japanese financial liberalization, we can define two characteristics of Japan's financial liberalization process by the content: the reform coordinates the relationship between financial reform and economic growth; by the type : it Change from progressive reform to passive explosive reform and to active explosive reform. As to see the reform effects in different phases , its positive aspects -in the 21st century, the coordination of financial liberalization with economic growth promoted the clean-up non-performing loads of banks; the coordination of financial liberalization with legal regulations enhanced the competitiveness of Japan's financial system. The negative aspects - in the 1990s the misplaced regulatory regime and banking reform boost the economic bubble burst, Produced moral hazard of japan's financial system amd increased its vulnerability.