The arc of Japan's economic development / Arthur Alexander.

Format:

Book

Author/Creator:

Alexander, Arthur J.

Language:

English

Subjects (All):

Japan--Economic policy.

Japan.

Economic policy.

Japan--Economic conditions.

Economic conditions.

Physical Description:

x, 232 pages : illustrations ; 24 cm

Place of Publication:

London ; New York : Routledge, 2008.

Summary:

Interest in Japan has shifted over the years, from a focus on the miracle economic growth of the post-period through the 1970s, to a fascination with the apparent export powerhouse and then to a morbid curiosity into how and why Japan has slowed down. This care textbook provides an overview of the Japanese economy from the period before the Meiji Restoration, and its astonishing growth throughout the twentieth century, before conducting a thorough analysis of the contemporary scene and the implications of the recent financial crisis.

The book begins by exploring Japan's economic development from the 1600s to the end of the American Occupation, focusing on the circumstances behind the government's preferences for intervention and guidance in economic affairs to achieve its objectives. It then traces the survival of this approach under the Americans. Separate chapters in incorporate original research that illustrates the effects and gradual fading of that policy approach in the post-war era.

Alexander review the foundations of modern Japan's economic development and shows how the state's central objective in the 1870s - to develop industrial capabilities to supply a modern military that could protect the country - led to government officials' distrust of capitalism and a desire to guide economic affairs themselves, especially during war and post-war chaos. The author goes on to highlight how returns on capital declined for 100 years until 2000, how industry growth shifted to a new trajectory in the 1990s and how Japan's economic characteristics grew to look more like those of the US. The final chapter projects the Japanese economy into the future, emphasizing the rise of diversity across regions, industries, companies and individuals.

The research on industrial structure, capital returns and Japan's similarities and differences from other countries breaks new ground. This book is particularly relevant to all those studying the contemporary economy of Japan, historical and economic development and economic structural change, among others, and will also benefit financial analysts.

Contents:

Japan's place in the contemporary economic world

The nineteenth-century transformation of the Japanese economy

From Meiji to the Second World War : political and international developments

Economic developments in the first half of the twentieth century

Planning supplies for war

The American occupation and the postwar economy

Bank-centred finance and corporate governance

Capital investment and rates of return

Structural change in the Japanese economy

The privatization of Japan's public corporations

Is Japan different? implications for economic growth

Economic prospects for Japan : moving to a new trajectory.

Notes:

Includes bibliographical references (pages [212]-219) and index.

ISBN:

9780415700238

041570023X

9780415700245

0415700248

OCLC:

124074716