To germinate such seeds, it is deemed necessary to encourage new entry to the market through deregulation which leads to intensified competition and the revitalization of industries, and to create a variety of financial products through which the abundant savings of the household sector can be smoothly channeled as risk capital to investments in new businesses. VIII.
Concluding Remarks  The Japanese economy now stands at a crossroads as to whether it can move onto a self-sustained recovery path. Needless to say, a stable macroeconomic environment is important for the smooth progress of structural adjustment. We are fully aware that monetary policy is expected to play an important role under such circumstances.