The Ministry of Finance: Bureaucratic Practices and the Transformation of the Japanese Economy

The Ministry of Finance: Bureaucratic Practices and the Transformation of the Japanese Economy

by J. Robert Brown
     
 
Japan's economy, once the envy of the world, has recently experienced a period of malaise and stagnation. This is due in part to over-regulation and resistance to change within the Japanese bureaucracy. Many argue that this bureaucracy must be replaced with a system similar to that in the United States, involving ruthless competition, fluid job markets unhindered by

Overview

Japan's economy, once the envy of the world, has recently experienced a period of malaise and stagnation. This is due in part to over-regulation and resistance to change within the Japanese bureaucracy. Many argue that this bureaucracy must be replaced with a system similar to that in the United States, involving ruthless competition, fluid job markets unhindered by notions of lifetime employment, tolerance of business failures, and the elevation of conflict over consensus in economic decision making. The author argues that not only will the bureaucracy, in the form of the Ministry of Finance, retain its position, it will also evolve to be more consistent with the transformed economic system allowing the Japanese economy to recover and retain its important role in the global economy.The book details the history of the Ministry of Finance and Japan's financial markets since World War II. It describes the economic crisis in Asia and Japan's attempts to transform its bureaucracy to better compete in the global arena. Economists, business practitioners, trade specialists, and anyone interested in Japan's role in the world economy will find this lucid and detailed book an invaluable resource.

Editorial Reviews

Booknews
Analyzes bureaucratic behavior in the Japanese economy, drawing on interviews with some 100 politicians, bureaucrats, central bank officials, and industry participants. Details the history and influence of the Ministry of Finance and its relationship to the private sector, and looks at the Securities Bureau and the securities industry, the Banking Bureau and the banking industry, the Daiwa Bank scandal, the role of bureaucrats and politicians, and reform. Annotation c. by Book News, Inc., Portland, Or.

Product Details

ISBN-13:
9781567202304
Publisher:
Greenwood Publishing Group, Incorporated
Publication date:
01/30/1999
Pages:
288
Product dimensions:
6.36(w) x 9.54(h) x 1.06(d)
Lexile:
1180L (what's this?)

Meet the Author

J. ROBERT BROWN, JR. is a Professor of Law at the University of Denver College of Law. Before joining the faculty, he practiced law in Washington, DC in both private practice and with the Securities and Exchange Commission. He has written a number of books and articles on the financial markets of Japan and the states of the former Soviet Union.

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