New Financial Instruments and Institutions: Opportunities and Policy Challenges

By Yasuyuki Fuchita and Robert E. Litan; eds.

Publisher:   Brookings Institution Press
Number Of Pages:   241
Publication Date:   2007
ISBN-10 / ASIN:   0815729839
ISBN-13 / EAN:   9780815729839

1 Introduction 1
Yasuyuki Fuchita and Robert E. Litan
2 ETFs and REITs in Japan: Innovation and Steps
for Future Growth 15
Yuta Seki
3 Securitization of Residential Mortgages:
Can Japan Create a “Good” GSE? 59
Yasuyuki Fuchita
Comment on chapters 2 and 3 by Adam S. Posen 91
4 Gap Filling, Hedge Funds, and Financial Innovation 101
Frank Partnoy and Randall Thomas
5 The Rise of the U.S. Private Equity Market 141
6 Policy Issues Raised by Structured Products 167
Jennifer E. Bethel and Allen Ferrell
7 The Development of Improved Exchange-Traded
Funds in the United States 193
Todd J. Broms and Gary L. Gastineau
Comment on chapters 6 and 7 by Kenneth E. Scott 210
Contributors 217
Index 219