Transactions of the Japan Academy
Online ISSN : 2424-1903
Print ISSN : 0388-0036
ISSN-L : 0388-0036
Volume 52, Issue 1
Displaying 1-3 of 3 articles from this issue
  • Tsutomu OUCHI
    1997 Volume 52 Issue 1 Pages 1-34
    Published: 1997
    Released on J-STAGE: June 22, 2007
    JOURNAL FREE ACCESS
    As the collapse of the money market bubble became decisive from 1993 to '94, both the government and business circles came to entertain widespread apprehensions that many a financial institution would break down and, if the worst comes to the worst, an extensive financial crisis would be imminent. The most important problem which attracted a great deal of attention and which the government had to take some measures for, in this case, was the liquidation of so-called Jusen (the finance companies specializing in the housing loan). The Jusen were originally the subsidiary companies founded by the groups of city banks and some local ones, and their main business was the housing loan for individual customers. As the price of land, however, was rising remarkably during the bubble, they began to loan real-estate brokers with the affluent sum of money financed not only by the parent banks that directly took part in establishing them, but also by many other financial institutions. Seven Jusen thus raised almost 14, 000, 000 million yen of funds. The large part of the loan on real property became irrecoverable as the land price fell suddenly at the collapse of the bubble, and consequently the Jusen were on the verge of bankrupcy, which meant the accumulation of an enormous sum of bad credit on the side of the financial institutions that loaned them.
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  • Chie NAKANE
    1997 Volume 52 Issue 1 Pages 35-46
    Published: 1997
    Released on J-STAGE: June 22, 2007
    JOURNAL FREE ACCESS
    Almost forty years have passed since the year 1959 when the Dalai Lama fled to India from Lhasa. There seems to be no sign yet of compromise between the claims of the Tibet Administration at Dharamsala and the Chinese Government in Beijing. A number of articles and books on this issue have appeared. In this essay, apart from interpretations of the political situation, I present an overview of the peculiarities of Tibetan society as a background to the contemporary situation.
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  • Its judiciary and advisory functions
    Shigeru ODA
    1997 Volume 52 Issue 1 Pages 47-69
    Published: 1997
    Released on J-STAGE: June 22, 2007
    JOURNAL FREE ACCESS
    Having dealt in his previous lecture with the history of the judiciary in the international community and examined the contribution of the International Court of Justice that has prevailed prior to the mid-1970s (at which time he was elected to the Court), the author now examines in this lecture the situation that has prevailed at the Court over the past 20 years.
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