Banking On Stability: Japan And The Crosspacific Dynamics Of International Financial Crisis Management

Banking On Stability: Japan And The Crosspacific Dynamics Of International Financial Crisis Management

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Saori N. Katada examines international financial stability in the aftermath of financial crisesand how such stability is maintained through collective action among major financial powers across the Pacific, the United States, and Japan. She explores the important role that financial support by the Japanese government played in solving the Latin American debt crisis in the 1980s, as well as its lack of support for the Mexican rescue in 199495 and its inconsistency during the recent Asian financial crisis.Banking on Stability looks at Japan's willingness to cooperate financially with the United Statesits most important trade partnerin cases where such compliance yields an improvement in relations. Katada argues that the Japanese government carefully weighs the benefits arising in international and domestic realms when taking on the role of collective crisis manager and concludes that Japan is no exception in having private gain as a central motivation during international financial crises.Saori Katada is Assistant Professor, School of International Relations, University of Southern California.

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