His reform proposals included deregulation and privatization most notably of the post savings system as well as devolution of authority and financial resources to the local level.
But to start with, all of these countries have long histories up to the present of institutions that really serve small savers - things like post office savings, savings banks.
Theoretically, Japan has enough savings to do this but in practice the savings don't get intermediated through the banking and life insurance companies and the trust fund bureau and the post office savings account in sufficient quantities to buy these bonds.
Besides Japan Post's savings and insurance arms, for example, there are nine other big financial outfits in the public sector.
However, a spokeswoman for the Post Office - where savings products are backed by the Bank of Ireland - said there had been an increase in customers since the Irish government's announcement.
In France, to private-sector bankers' fury, large chunks of the retail-banking market are dominated by savings banks and the post office, which enjoy tax and legal privileges that allow them to offer particularly advantageous savings accounts.
And, in Japan, they keep their savings unproductively in the post office.
ECONOMIST: Social conventions and demography add to the sclerosis
Also, as evidenced by the sharp drop in the savings rate to a post-crisis low of 2.4%, Americans may respond to the decline in disposable income by spending less.
Any attempt to end the privileges of Japan's farmers, shopkeepers or postal workers (the privatisation of the post office, with its vast savings deposits, is a pet project of Mr Koizumi's) will not go down well.
By contrast, if the key risk you worry about is the post-inflation value of your savings falling by 50% over the next decade or two, or if you fear being unable to live on the meagre returns from even the best savings policies, then cash looks a bad choice and stock markets a better one.
Some, with particularly prudent parents, have excess money in their college savings funds with which to spend their post-Ivy summers in Europe, the Far East or, for the idealists among them, Africa.
Post-Soviet devaluation robbed millions of their life savings.
If you are considering tapping your retirement savings to pay for college, read this post by FORBES Janet Novack.
Our sister company, Bedrock Wealth Management, LLC, helps post-divorced women once their divorce has been finalized, assisting with budgeting, retirement planning, college savings, asset protection, insurance, estate planning and all other investments needs.
FORBES: Divorcing Women Need to Answer These Key Questions Before Deciding to Keep The House
At 4%, the household savings rate has jumped sharply from its low of near zero, but it is still far below its post-war average of 7%.
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