@article{oai:stars.repo.nii.ac.jp:00009014,
 author = {中野, 瑞彦 and NAKANO, Mitsuhiko},
 issue = {4},
 journal = {桃山学院大学経済経営論集, ST.ANDREW'S UNIVERSITY ECONOMIC AND BUSINESS REVIEW},
 month = {Feb},
 note = {It is broadly recognized that financialaizaion of economy has progressed
globally. But the process degree of financialization of economy differs in
each country though foreign trade and transnational investment are
rapidly globalized. Pace of financialization is basically dependent on social
and economic situation of each country.
Definition of financialization has not yet been fixed. There might be some
definitions depending on which facet of financialization of economy is
discussed. In this paper expansion of debt of all economic sectors in Japan
is focused. Financializaion in Japan has progressed from a view point of
debt. But it is mainly occupied by official debt rather than private debt.
Debt of the government has extraordinarily increased during the last 30
years comparing with an increase of GDP. It should be a kind of crowding
out phenomenon in the debt market. Currently main purchaser of the
government bonds is Bank of Japan under its quantity and quality
monetary easing policy. It could be said ‘a perfect circulation of finance’
between official sectors, ‘monetization’ in other words. It has deteriorated
financial function in Japan.
Quality of finacializaion in Japan is still staying at a primary level. A
range of risk-takers is very narrow and mono-line. It means that risk-takers
in private sector have not been cultivated.
The conclusion is that the progress degree of financialaization of
economy in Japan is highly behind in the US. The crucial point for
developing fainacializaion in Japan is to bablance size of debt between
official sector and private one and to educate private risk-takers.},
 pages = {47--66},
 title = {金融債務の拡大と金融化現象（１）─日本},
 volume = {60},
 year = {2019},
 yomi = {ナカノ, ミツヒコ}
}