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Unmaking The Japanese Miracle
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Book Synopsis Unmaking the Japanese Miracle by : William M. Grimes
Download or read book Unmaking the Japanese Miracle written by William M. Grimes and published by Cornell University Press. This book was released on 2018-08-06 with total page 281 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the last fifteen years, Japan's economy has gone from model of success to object lesson in failure. William W. Grimes offers a richly detailed, insider's view of the key macroeconomic policies and events in contemporary Japan, as well as a close examination of the causes and effects of these upheavals. It is difficult to believe that the "Bubble Economy" of the late 1980s and the failed attempts at economic stimulation in the following decade both arose from the same policies. In Unmaking the Japanese Miracle, Grimes shows that this is precisely what happened. Focusing less on what went wrong than on why it went wrong, Grimes finds that mistaken macroeconomic policies—loose money in the late 1980s, excessively tight money until 1992, and only grudging use of expansionary fiscal policy until 1998—largely caused Japan's economic problems. Based on scores of interviews with Japanese policymakers, his is the first political explanation of why these catastrophic policies were carried out by the Ministry of Finance, the Bank of Japan, and the Diet. Various economic shocks were met, Grimes says, with a consistent and often inappropriate pattern of responses. This pattern has fundamentally altered because of changes within the three policymaking institutions since 1998.
Book Synopsis Japan's Quiet Transformation by : Jeff Kingston
Download or read book Japan's Quiet Transformation written by Jeff Kingston and published by Psychology Press. This book was released on 2004 with total page 375 pages. Available in PDF, EPUB and Kindle. Book excerpt: Controversially, this book argues that the Japan that emerges from its manifold problems of the 1990s may be stronger than before.
Book Synopsis Making and Unmaking Modern Japan by : Ritu Vij
Download or read book Making and Unmaking Modern Japan written by Ritu Vij and published by BoD – Books on Demand. This book was released on 2016-04-12 with total page 265 pages. Available in PDF, EPUB and Kindle. Book excerpt: The papers assembled here share the dual conviction that (1) understanding the lineaments of Japanese modernity entails an appreciation of the specific forms of distinctions, discriminations and exclusions constitutive of it; (2) that the socio-economic-political fractures increasingly visible under conditions of late modernity reveal the precarious nature of the making of modernity in Japan. Bringing together a group of critical intellectuals, mostly based in Japan with long-standing political commitments to groups emblematic of modern Japan’s constitutive outside - inorities, migrants, foreigners, victims of the Fukushima disaster, welfare recipients among others this collection of essays aims to draw attention to processes of ‘making and unmaking’ that constellate Japanese modernity. Unlike previous attempts, however, devoted to destabilizing positivist/culturalist approaches to a post-war ‘miracle’ Japan via a critical post-structural theoretical vocabulary and episteme, the essays gathered here aim principally to examine traces of the making of modern Japan in the fissures and displacements visible at sites of modernity’s unmaking. Deploying a range of theoretical approaches, rather than a commitment to any single framework, the essays that follow aim to locate contemporary Japan and the ravages of its modernity within a wider critical discourse of modernity.
Book Synopsis Japan Remodeled by : Steven Kent Vogel
Download or read book Japan Remodeled written by Steven Kent Vogel and published by Cornell University Press. This book was released on 2006 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt: As the Japanese economy languished in the 1990s Japanese government officials, business executives, and opinion leaders concluded that their economic model had gone terribly wrong. They questioned the very institutions that had been credited with Japan's past success: a powerful bureaucracy guiding the economy, close government-industry ties, "lifetime" employment, the main bank system, and dense interfirm networks. Many of these leaders turned to the U.S. model for lessons, urging the government to liberate the economy and companies to sever long-term ties with workers, banks, suppliers, and other firms.Despite popular perceptions to the contrary, Japanese government and industry have in fact enacted substantial reforms. Yet Japan never emulated the American model. As government officials and industry leaders scrutinized their options, they selected reforms to modify or reinforce preexisting institutions rather than to abandon them. In Japan Remodeled, Steven Vogel explains the nature and extent of these reforms and why they were enacted.Vogel demonstrates how government and industry have devised innovative solutions. The cumulative result of many small adjustments is, he argues, an emerging Japan that has a substantially redesigned economic model characterized by more selectivity in business partnerships, more differentiation across sectors and companies, and more openness to foreign players.
Book Synopsis Japan's Managed Globalization by : Ulrike Schaede
Download or read book Japan's Managed Globalization written by Ulrike Schaede and published by Routledge. This book was released on 2015-03-27 with total page 278 pages. Available in PDF, EPUB and Kindle. Book excerpt: As Japan moves from a "catch-up" strategy to a post-developmental stage, it is changing its actions and reactions both in terms of international political economy and domestic policy issues. The current changes in Japan can best be understood as following a path toward "permeable insulation." Japan's government and economic system continue to insulate domestic businesses from full competition and the rigor of market forces, but this insulation is also permeable because a decline in state power vis-a-vis the private sector since the 1990s has combined with a decline in the solidarity of private institutions (such as keiretsu or trade associations) to make strategies of insulation much less rigid and uniform. As a result of the "permeable insulation," Japan's response to the global and domestic challenges of the 1990s is neither one of full acceptance nor rejection of global standards and practices. Instead, the basic scheme is one of pragmatic utilization of new rules and circumstances to continue industrial policies of promotion or protection in a new post-developmental era. By bringing together in-depth case studies of eight critical issue areas, this book looks at Japan's responses to globalization and move toward "permeable insulation." Part 1 introduces the reader to the concept of "permeable insulation" and provides a detailed review of past practices and changes in policy. Part 2 deals with international trade issues, Japan's compliance with and resistance to global trade rules, and the domestic interests visible in Japan's compliance. Part 3 focuses on domestic measures and policies that Japanese firms have used to adapt to the changes, within Japan and abroad, triggered by globalization and liberalization.
Book Synopsis East Asian Development Model by : Shiping Hua
Download or read book East Asian Development Model written by Shiping Hua and published by Routledge. This book was released on 2014-12-17 with total page 283 pages. Available in PDF, EPUB and Kindle. Book excerpt: Given the impressive growth in East Asia after World War II, initially led by Japan, the region's development models have been scrutinized since the 1980s. The shared Confucian cultural heritage, strong government guidance, and export led economies were often cited as contributors to the impressive growth. However, major changes have taken place in Asia on and around the turn of the century: Japan experienced two decades of economic slow-down, while World Bank figures reveal that China is poised to become the largest economy in the world in 2014, overtaking the United States. Bearing this in mind, is it even possible to formulate an East Asian development model in the context of a shifting twenty-first century? And if so, what is it? This book addresses this issue by looking at the economic, political and cultural perspectives of China, Japan and South Korea, focusing on dynamism and potential consensus regarding an East Asian development model. The chapters offer a historical background to the East Asian development model, as well as in-depth case studies of each of the countries concerned to show that whilst the East Asian development model does have distinct characteristics as compared with other areas, and other countries may draw some insights from the East Asian experience, it is not a panacea that fits all circumstances and fits all times. This book will be welcomed by students and scholars of Asian economics, Asian politics, international political economy and development studies.
Book Synopsis Japan in the 1990s by : Vereinigung für Sozialwissenschaftliche Japanforschung. Jahrestagung
Download or read book Japan in the 1990s written by Vereinigung für Sozialwissenschaftliche Japanforschung. Jahrestagung and published by LIT Verlag Münster. This book was released on 2004 with total page 234 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 1990s in Japan have been a period of far-reaching changes in Japanese society, which have not come to an end yet. These developments demand a reexamination of our accumulated knowledge of Japan. This volume looks at them from different perspectives; the contributions deal with issues from the fields of economy, education, political and social science. The volume is a collection of papers from the 2002 meeting of the German Association of Social Scientific Research of Japan (VSJF) at Halle-Wittenberg University.
Book Synopsis Japan's New Regional Reality by : Saori N. Katada
Download or read book Japan's New Regional Reality written by Saori N. Katada and published by Columbia University Press. This book was released on 2020-07-07 with total page 218 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the mid-1990s, Japan’s regional economic strategy has transformed. Once characterized by bilateralism, informality, and neomercantilism, Japanese policy has shifted to a new liberal strategy emphasizing regional institution building and rule setting. As two major global powers, China and the United States, wrestle over economic advantages, Japan currently occupies a pivotal position capable of tipping the geoeconomic balance in the region. Japan’s New Regional Reality offers a comprehensive analysis of Japan’s geoeconomic strategy that reveals the country’s role in shaping regional economic order in the Asia-Pacific. Saori N. Katada explains Japanese foreign economic policy in light of both international and domestic dynamics. She points out the hurdles to implementing a state-led liberal strategy, detailing how domestic political and institutional changes have been much slower and stickier than the changing regional economics. Katada highlights state-market relations and shows how big businesses have responded to the country’s interventionist policies. The book covers a wide range of economic issues including trade, investment, finance, currency, and foreign aid. Japan’s New Regional Reality is a meticulously researched study of the dynamics that have contributed to economic and political realities in the Asia-Pacific today, with significant implications for future regional trends.
Book Synopsis Reprogramming Japan by : Marie Anchordoguy
Download or read book Reprogramming Japan written by Marie Anchordoguy and published by Cornell University Press. This book was released on 2015-08-12 with total page 275 pages. Available in PDF, EPUB and Kindle. Book excerpt: How have state policies influenced the development of Japan's telecommunications, computer hardware, computer software, and semiconductor industries and their stagnation since the 1990s? Marie Anchordoguy's book examines how the performance of these industries and the economy as a whole are affected by the socially embedded nature of Japan's capitalist system, which she calls "communitarian capitalism." Reprogramming Japan shows how the institutions and policies that emerged during and after World War II to maintain communitarian norms, such as the lifetime employment system, seniority-based wages, enterprise unions, a centralized credit-based financial system, industrial groups, the main bank corporate governance system, and industrial policies, helped promote high tech industries. When conditions shifted in the 1980s and 1990s, these institutions and policies did not suit the new environment, in which technological change was rapid and unpredictable and foreign products could no longer be legally reverse-engineered. Despite economic stagnation, leaders were slow to change because of deep social commitments. Once the crisis became acute, the bureaucracy and corporate leaders started to contest and modify key institutions and practices. Rather than change at different times according to their specific economic interests, Japanese firms and the state have made similar slow, incremental changes.
Book Synopsis Japan's Great Stagnation and Abenomics by : Masazumi Wakatabe
Download or read book Japan's Great Stagnation and Abenomics written by Masazumi Wakatabe and published by Springer. This book was released on 2015-04-23 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: As the global Great Recession continues, policymakers, economists, and the public are turning to Japenses economic revitalization for answers. Paul Krugman, Nobel laureate in Economics, once said that Japan was a "full-dress rehearsal for the current crisis." Japan has experienced and valiantly overcome the burst of their Bubble economy, financial crisis, lukewarm recovery, and more than a decade-long deflation and stagnation to become one of the most stable economies today. Japan's Great Stagnation and Abenomics reveals the striking similarities of economic events and policies between the Great Stagnation and the current Great Recession. It also suggests possible dangers ahead and way-outs in the future. This exciting new volume is based on Wakatabe's expertise in economic history and the history of economic ideas and argues that any policy decision is related to cultural ideology. An investigation into the relationship between cultural ideology and policy helps us better understand the policy-making process.
Book Synopsis The Making of Modern Japan by : Myles Carroll
Download or read book The Making of Modern Japan written by Myles Carroll and published by BRILL. This book was released on 2021-10-18 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt: In The Making of Modern Japan, Myles Carroll offers a sweeping account of post-war Japanese political economy, exploring the transition from the post-war boom to the crisis of today and the connections between these seemingly discrete periods. Carroll explores the multifarious international and domestic political, economic, social and cultural conditions that fortified Japan’s post-war hegemonic order and enabled decades of prosperity and stability. Yet since the 1990s, a host of political, economic, social and cultural changes has left this same hegemonic order out of step with the realities of the contemporary world, a contradiction that has led to three decades of crisis in Japanese society. Can Japan make the bold changes required to reverse its decline?
Book Synopsis Capital as Will and Imagination by : Mark D. Metzler
Download or read book Capital as Will and Imagination written by Mark D. Metzler and published by Cornell University Press. This book was released on 2013-04-15 with total page 317 pages. Available in PDF, EPUB and Kindle. Book excerpt: Joseph Schumpeter’s conceptions of entrepreneurship, innovation, and creative destruction have been hugely influential. He pioneered the study of economic development and of technological paradigm shifts and was a forerunner of the emerging field of evolutionary economics. He is not thought of as a theorist of credit-supercharged high-speed growth, but this is what he became in postwar Japan. As Mark Metzler shows in Capital as Will and Imagination, economists and planners in postwar Japan seized upon Schumpeter’s ideas and put them directly to work. The inflationary creation of credit, as theorized by Schumpeter, was a vital but mostly unrecognized aspect of the successful stabilization of Japanese capitalism after World War II and was integral to Japan’s postwar success. It also helps to explain Japan’s bubble, and the global bubbles that have followed it. The heterodox analysis presented in Capital as Will and Imagination goes beyond the economic history of postwar Japan; it opens up a new view of the core circuits of modern capital in general.
Book Synopsis Japan's Great Stagnation by : W. R. Garside
Download or read book Japan's Great Stagnation written by W. R. Garside and published by Edward Elgar Publishing. This book was released on 2012-01-01 with total page 229 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'Recent events have rendered Japan's lost decades all the more relevant to the rest of us. Rick Garside, in this wide-ranging and accessible account, explores the political economy of Japan's great stagnation with an eye toward describing how other advanced economies can avoid going down the same path.' – Barry Eichengreen, University of California, Berkeley, US 'Professor Garside's timely book transcends the national preoccupation suggested by its title. From one viewpoint this is a case study (admittedly on a grand scale) of the experience of one country in one historical period. But in analyzing the dynamic relationship between Japan's post-war economic miracle and its chronic stagnation from the 1990's he offers a penetrating insight into the links between profound and embedded institutional and ideological influences, global upheaval, and almost disastrous national economic performance. Hence, Japan's Great Stagnation – the unfolding story of that country's declining experience from masterful economic power to seeming economic paralysis – provides us with an all-too familiar scenario with which to approach the contemporaneous ills of the world's developed economies. The interaction between banking crises, unwieldy institutions (especially, but not only, financial institutions), policy frailties, and stagnating demand – all conspired to create crisis and then handicap or prevent recovery. And the familiarity of the story is aggravated by the global financial crisis which now threatens to engulf us. History never fully repeats itself, but Professor Garside's illuminating examination of Japan's recent experiences must surely provide important points of relevance for the world's current malaise. He is to be congratulated on the depth and scope of what he has achieved – and for its relevance to what we are experiencing.' – Barry Supple, University of Cambridge, UK This timely book presents a critical examination of the developmental premises of Japan's high-growth success and its subsequent drift into recession, stagnation and piecemeal reform. The country, which within a few decades of wartime defeat mounted a serious challenge to American hegemony, appeared incapable of fully adjusting to shifting economic circumstance once the impulses of catch-up growth and the good fortune of an accommodating international environment faded. The banking crises, spiralling government debt, and stagnant growth experienced by major industrialized nations in recent years have evoked renewed interest in Japan's economic denouement since the 1990s. To many, Japan's drift into recession and financial crisis during the early 1990s, and later into stagnation and prolonged deflation, demonstrated precisely what not to do when fashioning remedial policy. This book details the legacies of Japan's high-growth success and how they affected Japan's capacity to cope with shifting national and international circumstance from the 1980s. It reviews the contentious debates over the causes and consequences of the 'bubble economy' and the 'lost decade', and assesses the extent to which reforms since 1997 have been compromised by lingering attachments to Japan's distinctive post-war political economy. Providing an analytical overview of both the high growth and recessionary periods and of subsequent reform agendas, this timely book will appeal to students, academics and researchers of economic history, development and politics, particularly those with an interest in Japan and Asian studies more generally.
Book Synopsis Taming Japan's Deflation by : Saori N. Katada
Download or read book Taming Japan's Deflation written by Saori N. Katada and published by Cornell University Press. This book was released on 2018-11-15 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bolder economic policy could have addressed the persistent bouts of deflation in post-bubble Japan, write Gene Park, Saori N. Katada, Giacomo Chiozza, and Yoshiko Kojo in Taming Japan's Deflation. Despite warnings from economists, intense political pressure, and well-articulated unconventional policy options to address this problem, Japan's central bank, the Bank of Japan (BOJ), resisted taking the bold actions that the authors believe would have significantly helped. With Prime Minister Abe Shinzo's return to power, Japan finally shifted course at the start of 2013 with the launch of Abenomics—an economic agenda to reflate the economy—and Abe's appointment of new leadership at the BOJ. As Taming Japan's Deflation shows, the BOJ's resistance to experimenting with bolder policy stemmed from entrenched policy ideas that were hostile to activist monetary policy. The authors explain how these policy ideas evolved over the course of the BOJ's long history and gained dominance because of the closed nature of the broader policy network. The explanatory power of policy ideas and networks suggests a basic inadequacy in the dominant framework for analysis of the politics of monetary policy derived from the literature on central bank independence. This approach privileges the interaction between political principals and their supposed agents, central bankers; but Taming Japan's Deflation shows clearly that central bankers' views, shaped by ideas and institutions, can be decisive in determining monetary policy. Through a combination of institutional analysis, quantitative empirical tests, in-depth case studies, and structured comparison of Japan with other countries, the authors show that, ultimately, the decision to adopt aggressive monetary policy depends largely on the bankers' established policy ideas and policy network.
Book Synopsis Japan and China in the World Political Economy by : Saadia Pekkanen
Download or read book Japan and China in the World Political Economy written by Saadia Pekkanen and published by Routledge. This book was released on 2006-06-01 with total page 351 pages. Available in PDF, EPUB and Kindle. Book excerpt: Two powers in East Asia today stand to define the region's economic and commercial future: Japan, which rose in a spectacular industrial burst to become at present the world's second largest economy; and China, which is rapidly advancing towards a market economy under the watchful eye of the world. While much has been made of Japan and China’s particular economic institutions and developmental paths, few works analyze them in a comparative framework. Including contributions from leading academics, the text focuses on the period from the 1980s to the onset of the 2000s, reviewing the experiences of Japan and China across the areas of development, trade, investment, finance and technology. Drawing on a combination of official documents, economic statistics, case studies and original fieldwork, this book will give political scientists, political economists, business concerns, and policy analysts a firmer grasp of the role Japan and China stand to play in the world political economy.
Book Synopsis U.S.-Japan Relations in a Changing World by : Steven Vogel
Download or read book U.S.-Japan Relations in a Changing World written by Steven Vogel and published by Rowman & Littlefield. This book was released on 2004-05-13 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt: September 2001 marked the fiftieth anniversary of the signing of the San Francisco Treaty, formally ending the Second World War. In signing this treaty, Japan fundamentally transformed its position on the world stage. It established itself in the vanguard of the burgeoning cold war bulwark against the Soviet Union and its communist satellites, and wed itself to the United States through economic, political, and security ties that persist today. The half century since the establishment of the San Francisco system has seen highs and lows in the relations between the two countries, continuing even into the current war on terrorism. This new book evaluates the changing relationship between the two great powers, providing in-depth analysis on a variety of topics. It scrutinizes the historical context, providing the reader with predictive tools for understanding events as they unfold. Instead of looking at the U.S.-Japan relationship one issue at a time, this book examines specific trends and then analyzes how these trends affect the relationship as a whole. This innovative approach allows the reader to view several perspectives simultaneously, and it compels the contributors to assemble clear causal arguments that detail what each factor can and cannot explain. The result is a cogent and convincing appraisal of the status and future of U.S.-Japan relations after fifty years of peaceful coexistence.
Download or read book Japan in Crisis written by B. Youngshik and published by Springer. This book was released on 2013-09-18 with total page 376 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume, stemming from the Asan Institute for Policy Studies, observes that for Japan to 'rise again' would mean recovery not only from the triple disaster—the March, 2011 earthquake, tsunami, and nuclear meltdown—but from 20-plus years of economic stagnation, political fumbling, and deterioration in Japan's regional and global influence.
