Japan, the System That Soured / Edition 1

Japan, the System That Soured / Edition 1

by Richard Katz
     
 

ISBN-10: 0765603101

ISBN-13: 9780765603104

Pub. Date: 05/31/1998

Publisher: Taylor & Francis

After seven long years of economic malaise, it is clear that something has gone awry in Japan. Unless Japan undertakes sweeping reform, official forecasts now warn, growth will steadily dwindle. How could the world's most acclaimed economic miracle have stumbled so badly? As this important book explains, the root of the problem is that Japan is still mired in the

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Overview

After seven long years of economic malaise, it is clear that something has gone awry in Japan. Unless Japan undertakes sweeping reform, official forecasts now warn, growth will steadily dwindle. How could the world's most acclaimed economic miracle have stumbled so badly? As this important book explains, the root of the problem is that Japan is still mired in the structures, policies, and mental habits of the 1950s-1960s. Four decades ago while in the "catch-up" phase of its economic evolution, policies that gave rise to "Japan, Inc". made a lot of sense. By the 1970s and 1980s, when Japan had become a more mature economy, "catch-up economics" had become passe, even counterproductive. Even worse, in response to the oil shocks, Japan increasingly used its industrial policy tools. not to promote "winners", but to shield "losers" from competition at home and abroad. Japan's well-known aversion to imports is part and parcel of this politically understandable, but economically self-defeating, pattern. The end result is a deformed "dual economy" unique in the industrial world. Now this "dualism" is sapping the strength of the entire economy. The protection of the weak is driving Japan's most inefficient companies to invest offshore instead of at home. Without sweeping reform, real recovery will prove elusive. The challenging thesis articulated in this book is receiving widespread media attention in the United States and Japan and is sure to provoke continuing debate and controversy.

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Product Details

ISBN-13:
9780765603104
Publisher:
Taylor & Francis
Publication date:
05/31/1998
Edition description:
New Edition
Pages:
336
Product dimensions:
6.04(w) x 9.20(h) x 1.18(d)
Age Range:
18 Years

Table of Contents

Acknowledgments
List of Figures
List of Tables
Introduction: What Happened to the Miracle?
1Mainframe Economics in a PC World
Pt. 1The Two Japans
2Japan's Deformed Dual Economy
3"Hollowing Out": Driving Away the Geese That Lay the Golden Eggs
4From Growth Superstar to Economic Laggard
Pt. 2The Success and the Souring
5The Politics of Japanese Economic Policy
61955-73: The System Succeeds in the Era of Catch-Up
71973-90: The System Sours
8Economic Anorexia: From Bubble to Bust
Pt. 3Open Trade: The Heavy Artillery of Economic Reform
9If Poland Can Reform, Why Not Japan?
10Asia Versus Japan in the Race to Reform
11Japan's Peculiar Trade: Too Few Imports, Too Few Exports
12Is Japan Opening Up?
Pt. 4The Road Ahead
13Beyond Revisionism and Traditionalism: A New Paradigm to Guide Policy
14Interregnum: Whither Japan?
App. AWhy Industrial Policy Only Works in the Catch-Up Era
App. BControversy over Export-Led Industrialization
App. CReading the Econometric Tables
App. DFrom Superstar to Laggard: The Growth Model
App. ETrade and Growth
App. FJapan's Peculiar Trade
App. GThe "Overloan" System in Banking: Artificial Scarcity
App. H"Economic Anorexia" in a Developmental Perspective
App. IHow Japan's Cartels Destroy Productivity
App. JThe Dual Economy and Hollowing Out
App. KThe Macroeconomics of the U.S. - Japan Trade Imbalance
App. LTrade, Capital Flows, and the Gyrations of the Yen
App. MInvestment-Driven Growth Versus Productivity-Driven Growth
Notes
Bibliography
Index

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