Routledge Japanese Resistance to American Financial Hegemony - RIPE Series

This scholarly examination explores why Japan's financial system has resisted full convergence to an American-style capital market model since the mid-2000s, despite substantial deregulation in the preceding decades. The book investigates the ideational conflict within Japanese business elites between market liberalisation advocates and anti-free market proponents, offering detailed analysis of how American and Japanese credit rating agencies operate within Tokyo's financial landscape. It scrutinises the roles of Keidanren and Doyukai, two major Japanese industrial associations that have functioned as critical ideational platforms shaping corporate policy and financial governance. By examining global versus domestic social norms, the work provides insight into the complex interplay between international financial pressures and Japan's distinctive institutional structures, offering valuable perspective for understanding modern financial systems and cross-national economic policy differences.