E N D
1. 1 ???????,Big Bang,?????????? ? ?
????????????
2008/5/30
2. 2 ??????? ????????
??????????
-?????????
-?????????????
??????????
3. 3
4. 4 ???????? ??????????J. Pierpont Morgan??1837,??1913,?????????????????????,?????????????????(Agent),???????????????(Leviathan) ? Morgan????????,???????,???????????,????????????????????,??????????????????????
5. 5 ???????? ?????(???)????
Chernow??20????,?????????,??????????????????????,???????????????????????????????????IBM?GM?????????????????????,????????????????20????????,??????????????????????????
6. 6 ?????(?????) ????????
20?????,?????????,??????????,?????????,???????????????,?????????????,??????????????????????????,?????????????????;???????????????????????????????/??????,??????????????????
7. 7
8. 8 ?????????? ????????????,???????????????70???,??(??)?????????,????????????????????????????JP Morgan ???????????????,???1935??? Morgan Stanley????? 1962?, Morgan Stanley????7????,??110?; 2008??????? 400???,???33?????600????????????????????,????????????
9. 9
10. 10 ??????Big Bang ?????????
???????
??????
- ????? (Wimbledon Effect)
??????(Japan Big Bang)
- ?????????
11. 11 ????????? ??????????(New Comparative Economic History),???????19????????:
- 19????????????
????(?????)?????????????????,?????????????????,??????????????????????????????????
- ?80????
???????????,???????????????????,????????????,??19????????,????????????????,???????????????????????????
12. 12
13. 13 ??????? ???????????????????????-???????????????,???????????????????????? ??????????????????????????????????King (1988)???,?????20?????????,???(????)???10????
14. 14
15. 15 ?????? ?????????,???????????,????1986??????????????,?????????“?????”(Wimbledon Effect) ?
Philip Augar?? “ The Death of Gentlemanly Capitalism”???????????????????????????????????
16. 16
17. 17 ?????? ???,?????????30?????,???????????????????????2007??????,?????????????30%,????????????60%??(??Figure 6)???,?????????????????????????????????,???????,Yamayichi?????,Nikko??Citigroup??,Daiwa??????????,???????????????????
18. 18
19. 19
20. 20
21. 21 ??????--????????? - ????(Nomura Securities)???1925??80????,??????,?????????????????,???????????????,????????????
- ???1993?4????????????,?????????????????????,Nomura?1993?8???Nomura Trust and Banking ???,1996?????????Japanese Big Bang ?????,?????? CMA?????????????????????????1997???Nomura Capital Investment Co.????????????????????,??2000???Nomura Principal Finance Co., ??MBO???????2000????Nomura Asset Management Co.??????????,??2001????????
22. 22 Table 3 ?????????????
23. 23 Appendix1 ??????????
24. 24 ????????????????? ?????????
???????????
???????VS.??????
25. 25 ?? ??10????????????????,?????
????????????????????
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????????????????????????,
??????????????,
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????????????????????,?????
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