Financial Strategies and Public Policies: Banking, Insurance by Zuhayr Mikdashi (eds.)

By Zuhayr Mikdashi (eds.)

Presents the rules and techniques of a wide-ranging crew of ministerial personalities, relevant bankers, regulators and leader or senior executives of significant monetary and commercial teams. Their imaginative and prescient of the longer term is predicated on their high-level experience.

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If it is not to be driven into bankruptcy, the insurance industry must continue to fight the trend. 32 The Insurance Industry in the 1990s It must however make itself an expert on the technical side of the problem and it must apply innovative solutions. If risk transfer won't work on its own, why not combine this with risk financing? In summary, the industry must respond positively and not reactively. This will assist in solving future pollution problems. The question will remain however of who will pay the major costs of cleaning up past pollution, which involves difficult political decisions.

This is against the backdrop of the structural transformation of the Japanese economy caused by the sharp appreciation of the yen which led to massive investment in plant and equipment. This tendency is expected to continue for some time. On the other hand banks, which are the main intermediary with respect to investment funds, are experiencing difficulty in expanding their assets owing to the BIS regulation. _•••~•••• BIS-regulated financial inatitutions / ........ i. l. - .................. " , '....

On the other hand, banks which are not bound by BIS are gaining a comparative advantage in their ability to supply funds. In my opinion the existence of the BIS regulation will thus lead to a reorganisation of the banking sector into two types of groups based on their comparative advantage. The most important of the aforementioned bank functions seems to be the indispensable role of information provider. The 1990s are anticipated to be years of drastic and rapid change in which the Japanese economy will face various unprecedented risks.

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