261024- Japan's stock market will become how
>100 Views
October 24, 26
スライド概要
1989年に日経平均が約39,000円に達した後、2009年には約7,600円まで下落し、ピークから80%以上の下落を経験しました。2012年にアベノミクスが低いベースから始まり、株価は歴史的に安価でした。2008年金融危機以降、各国政府は流動性供給や金融システムの救済、大規模な金融緩和で介入しました。COVID-19時には企業支援や雇用保護、現金給付などの直接支援が行われました。日本のM2は約1,200兆円と大規模で、家計は預金を多く保有しています。金融システムはかつての銀行破綽やデフレから、現在は金融安定と流動性支援を重視するへと変化しました。大恐慌、バブル崩壊、リーマン・ショック、COVIDといった歴史的教訓を踏まえ、現代日本は市場リスクは残るものの、政策環境は過去とは大きく異なると結論付けられます。
おすすめタグ：日本株,アベノミクス,金融政策,COVID-19経済対策,歴史的教訓
関連スライド
各ページのテキスト
261024 presented by jee54321 1
Japan's Stock Market Has Crashed Before Nikkei reached nearly 39,000 in 1989 Fell to around 7,600 in 2009 More than 80% decline from the peak For British Readers This was similar to: A housing crash A banking crisis A stock market crash occurring over a long period. 2
Abenomics Started from a Very Low Base Abenomics began in 2012 Nikkei was around 8,000–9,000 Japanese shares were historically cheap For British Readers Japan's recent rise looks dramatic partly because the starting point was extremely depressed after two decades of weak growth. 3
Governments Now Intervene More After the 2008 Financial Crisis: Central banks injected liquidity Governments rescued financial systems Large-scale monetary easing was introduced Examples US Federal Reserve Bank of England European Central Bank Bank of Japan 4
5
COVID Changed Economic Policy During COVID-19: Governments supported businesses Governments protected jobs Governments sent direct financial assistance Japan Examples Employment subsidies Business support payments Zero-interest emergency loans Cash payments to citizens 6
Japan Holds Massive Financial Savings Japan's M2 money supply is around: ¥1,200 Trillion Including: Cash Bank deposits For British Readers Japanese households traditionally keep more money in deposits and less in financial assets than many Western countries. 7
The Financial System Has Changed Before: Policy makers often allowed: Bank failures Deflation Credit contraction Today: Policy makers tend to prioritise: Financial stability Liquidity support Economic recovery 8
Lessons from History Major events that shaped modern policy: Event Great Depression (1930s) Lesson Learned Deflation can be devastating Japan Bubble Collapse (1990s) Financial crises can last decades Lehman Shock (2008) Governments must stabilise banks COVID Shock (2020) Governments may support entire economies 9
10
One Sentence Summary Modern Japan still faces market risks, but today's policy environment is very different from the one that allowed the long decline after the 1990 bubble collapse. 11