Diversity and transformations of Asian capitalisms / edited by Robert Boyer, Hiroyasu Uemura and Akinori Isogai.

Format:

Book

Contributor:

Boyer, Robert, 1943-

Isogai, Akinori, 1956-

Uemura, Hiroyasu, 1956-

Series:

Routledge Studies in the Modern World Economy

Routledge Studies in the modern world economy ; 96

Language:

English

Subjects (All):

Capitalism--Asia.

Capitalism.

Economic development--Asia.

Economic development.

Asia--Economic conditions.

Asia.

Physical Description:

1 online resource (417 p.)

Edition:

1st ed.

Place of Publication:

Abingdon, Oxon : Routledge, 2012.

Language Note:

English

Summary:

"Among a vast literature on the Asian economies, the book proposes a distinctive approach, inspired by y régulation Theory, in order to understand the current transformations of the Asian economies. Most scholars use as a market-led capitalism as a benchmark and implicitly they diagnose the many imperfections of the Japanese, Korean or Chinese configurations compared with the American one: the Asian crises are supposed to be the direct consequence of this discrepancy. By contrast the this book traces the specificities of the Asian economies back to the formation of their basic institutions after WWII which have been shaping each national economy. The book follows their transformations after the 1997 Asian crisis until the subprime crisis. During this period, the viability of their growth regime was to coherence of five basic institutional forms: the degree of competition and insertion into the world economy, the nature of labour market organization, the monetary and exchange rate regimes and finally the style for State intervention via legislation, public spending and tax.The book provides new findings. The degree of financial liberalization and opening to the world economy largely determines the severity of the 2008-2009 recession and the political-economic reactions of each Asian countries to the subprime crisis. Asian capitalisms are distinct from American and European ones, but they are quite diverse among themselves, and this differentiation has been widening during the last decade. This book will help to shed light on a de facto regional economic integration is taking place in Asia, but unsolved past political conflicts do hinder the institutionalisation of these interdependencies"-- Provided by publisher.

Contents:

Diversity and Transformations of Asian Capitalisms; Copyright; Contents; List of figures; List of tables; List of contributors; Acknowledgements; Introduction: Asia: a social laboratory of contemporary capitalisms?; PART I Japanese capitalism: the companyism eroded by firms' heterogeneity and the lack of new coordinating mechanisms; 1 How has the Japanese mode of régulation changed?; 2 The transformation of the Japanese corporate system and the hierarchical nexus of institutions; 3 The increasing heterogeneity of firms in Japanese capitalism facts, causes, consequences, and implications

4 Labor and financial-market risks and welfare spending A comparative study with a special emphasis on Japan5 Increasing wage inequality in Japan since the end of the 1990s An institutional explanation; 6 Institutional changes and the transformations of the growthregime in the Japanese economy: facing the impact of the world economic crisis and Asian integration; PART II Chinese and Korean capitalisms: two contrasted trajectories China: export or investment-led growth regime?

7 Development mode and capability building in the age of modularization and regional integration: origins of structural adjustments of Chinese economy8 Chinese international production linkages and Japanese multinationals: evolving industrial interdependence and coordination; 9 Analysis of the linkage effect in Chinese export-led growth: according to the subdivisions of Asian international input-output tables; 10 The Chinese growth regime and the world economy; Korea: major transformations but uncertain régulation modes

11 The Korean economy between two economic crises: hybridization or convergence towards a market-led economy?12 The great transformations in the Korean economy since 1962: processes and consequences; PART III Diversity of Asian capitalisms: from globalization to Asian integration? The impact of internationalization: distinctive national trajectories but a common domination of competition; 13 Asian capitalisms: institutional configurations and firm heterogeneity

14 The consequences of internationalization of trade and financial transactions on growth Combining an institutional hierarchy hypothesis with a Keynes-Minsky approach15 Comparative analysis of conditions for monetary integration: Europe and Asia; 16 Given the heterogeneity of Asian countries, is a monetary integration or coordination possible?; Conclusion: the evolving diversity of Asian capitalisms, from the Asian crisis to the subprime crisis; Bibliography; Index

Notes:

Description based upon print version of record.

Includes bibliographical references and index.

Description based on metadata supplied by the publisher and other sources.

ISBN:

1-136-65113-6

1-283-58938-9

9786613901835

0-203-80584-4

1-136-65114-4

9780203805848

OCLC:

810082208