Economics, Law, and Institutions in Asia Pacific

Governance, Risk and Financial Impact of Mega Disasters

Lessons from Japan

Editors: Kamesaka, Akiko, Waldenberger, Franz (Eds.)

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  • Offers an up-to-date analyses of the financial impact of mega disasters, using Japan as an example
  • Combines theoretical reasoning and modeling with empirical findings from recent disasters
  • Provides a detailed analyses of impacts on capital markets, government finance, debt positions by households and businesses, and investor behavior
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About this book

This book addresses researchers, practitioners, and policy makers interested in understanding the financial implications of mega-disaster risks as well as in seeking possible solutions with regard to governance, the allocation of financial risk, and resilience. The first part of this book takes the example of Japan and studies the impact of mega earthquakes on government finance, debt positions of private household and businesses, capital markets, and investor behavior by way of economic modeling as well as case studies from recent major disasters. In Japan, the probability of a mega earthquake hitting dense agglomerations is very high. Like other large-scale natural disasters, such events carry systemic risks, i.e., they can trigger disruptions endangering the stability of the social, economic, and political order. The second part looks at the experience of the Japanese government as a provider of disaster-risk finance and an active partner in international collaboration. It concludes with an analysis of the general characteristics of systemic risk and approaches to improve resilience. 

About the authors

Akiko Kamesaka is Professor at Aoyama Gakuin University in Tokyo Japan, School of Business Administration. She is also the director of the Financial Markets Research Center, Aoyama Gakuin University, and she was a visiting research fellow at the Economic and Social Research Institute, Cabinet Office, Government of Japan. She has worked as an accountant at a large accounting firm in Tokyo, and has studied at the University of Tokyo graduate school of economics. Her interests include analysis on well-being, worldview, and investor behavior, and she has many publications in economics and finance. She received the Ibbotson Associates Japan Research Award at the Asia-Pacific Finance Association / Pacific-Basin Financial Management Society / Financial Management Association joint conference for her research on investor behavior in Japan. She was invited to speak at a panel on subjective well-being and sustainability at the 4th OECD World Forum, and has presented her work at many other large conferences and meetings. She has been conducting investor surveys in Japan with Professor Robert J. Shiller, who was awarded the Nobel Prize in Economic Sciences in 2013.

Franz Waldenberger obtained his PhD in economics from the University of Cologne. After positions with the German Monopolies Commission and the German Institute of Japanese Studies (DIJ), he became Professor for Japanese Economy at Munich University. He has been visiting professor at various Japanese universities, including the University of Tokyo, Tsukuba University, Hitotsubashi University and Osaka City University. He serves as editor in chief of Contemporary Japan and as member of the editorial board of Asian Business & Management. Presently, he is on leave from Munich University to head the DIJ in Tokyo. His research focuses on the Japanese economy and corporate governance. Professor Waldenberger is member of the German Japan Forum and member of the board of the Japanese-German Business Association (DJW). 

Table of contents (6 chapters)

Table of contents (6 chapters)
  • Financial Impact of Mega Disasters

    Pages 1-12

    Waldenberger, Franz (et al.)

  • Japan’s Disaster Risk Financing: Framework and Policies

    Pages 13-34

    Tsuda, Takahiro

  • Analysis of the Possible Impact of a Tokyo Mega Earthquake on Japanese Public Finance

    Pages 35-46

    Sato, Motohiro

  • Law and Policy Responses to Disaster-Induced Financial Distress

    Pages 47-80

    Weitzdörfer, Julius (et al.)

  • How the Capital Market Reacted to the Great East Japan Earthquake: A Risk Perspective

    Pages 81-96

    Moridaira, Soichiro

Buy this book

eBook $89.00
price for USA in USD (gross)
  • ISBN 978-981-13-9005-0
  • Digitally watermarked, DRM-free
  • Included format: PDF, EPUB
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $119.99
price for USA in USD
  • ISBN 978-981-13-9004-3
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
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Bibliographic Information

Bibliographic Information
Book Title
Governance, Risk and Financial Impact of Mega Disasters
Book Subtitle
Lessons from Japan
Editors
  • Akiko Kamesaka
  • Franz Waldenberger
Series Title
Economics, Law, and Institutions in Asia Pacific
Copyright
2019
Publisher
Springer Singapore
Copyright Holder
Springer Nature Singapore Pte Ltd.
eBook ISBN
978-981-13-9005-0
DOI
10.1007/978-981-13-9005-0
Hardcover ISBN
978-981-13-9004-3
Series ISSN
2199-8620
Edition Number
1
Number of Pages
XI, 114
Number of Illustrations
6 b/w illustrations, 29 illustrations in colour
Topics