1. Introduction
The International Monetary Fund (IMF) is no longer a purely international economic organizationin the way it was. At first, the IMF was established along with the World Bank and theGeneral Agreement on Tariffs and Tradeat the close ofWorld War II in order to provide governments with balance of payments support, but now there’s a doubt that IMF has become a political organizat
debt level is sustainable. For an accurate projection on debt sustainability, several indicators should be assessed simultaneously in a forward-looking way. It should be noted, also, that debt sustainability analysis has to be country-specific, with consideration of the country’s debt history, the level of sovereign ratings and the degree of development in the financial sector and capital marke
1. Introduction
There is the rapid economic growth of EastAsian countries and many scholars attribute these performances to the state's active intervention in the process of economic development. These EastAsian countries were called "the developmental state"(henceforth DS). Japan and four EastAsian dragons - Korea, Taiwan, Singapore, and Hong Kong - have achieved economic grow
the repayment burden of foreign debt and the cost of imported raw materials
Government Failure to deal with corporate insolvencies devastating effect
Exchange rate policy
Waiting until the foreign currency reverses plummeted
Reason for making policy mistakes
The lame duck
The Ministry of Finance and Economy
& The central bank
Raises a question about the bottle cap role
->> Lead to an arms races
1. U.S.
- Grand strategy containing the rising power of China
Refer Japan as Britain in Far East (Armitage report, 2000)
2. Japan
- Using the US encouragement on the normalization
Financial support for U.S.
3. Unstable environment
- Rising China and NK’s nuclear threat (Armitage report, 2007)