The Political Economy of Japanese Monetary Policy

The Political Economy of Japanese Monetary Policy
Author: Thomas F. Cargill
Publisher: MIT Press
Total Pages: 260
Release: 2003-01-01
Genre: Business & Economics
ISBN: 9780262262071

The contributions in this book provide a unique view of its emergence and growth in a number of different national settings in an area of the Third World where the industry is most advanced. In The Political Economy of Japanese Monetary Policy, Cargill, Hutchison, and Ito investigate the formulation and execution of monetary and financial policies in Japan within a broad technical, political, and institutional context.Their emphasis is on the period since the collapse of the Bretton Woods system of fixed exchange rates in the early 1970s, and on the effects of policies and institutions in shaping the modern Japanese economy. The authors present basic themes and recent developments, as well as their own research findings.They also review and integrate the large literature in the area. They consider theoretical arguments and empirical evidence for each topic discussed. Topics covered include Japan's low inflation record (despite the central bank's lack of formal independence from the government); politically motivated business cycles and the timing of elections; exchange rate policy and international policy coordination; the historical development of central banking; Japan's "bubble economy" of the 1980s; and the causes, magnitude, and regulatory responses to Japan's banking and financial crisis of the 1990s.

The Japanese Economy

The Japanese Economy
Author: Takatoshi Itō
Publisher: MIT Press
Total Pages: 492
Release: 1992
Genre: Business & Economics
ISBN: 9780262090292

An introduction to the Japanese economy based on a comparative perspective and an analytic approach grounded in mainstream economics. It compares Japan with the United States in terms of economic performances, institutions and government policies and also scrutinizes the Japanese economy.

Public Policies and the Japanese Economy

Public Policies and the Japanese Economy
Author: Toshiaki Tachibanaki
Publisher: Springer
Total Pages: 320
Release: 2016-07-27
Genre: Business & Economics
ISBN: 1349131687

The book examines the effect of various public policies on economic performance in Japan. Various public policies include tax policy, regulation, macroeconomic policy, labour policy and some others. Many fields regarding economic performance are covered in this book: savings, portfolio choice, housings, investments, cost of capital, taxes, unemployment, wages, inequality, etc. Emphasis is placed on the examination of the two factor markets, namely, the capital and labour markets in Japan.

MITI and the Japanese Miracle

MITI and the Japanese Miracle
Author: Chalmers Johnson
Publisher: Stanford University Press
Total Pages: 818
Release: 1982-06
Genre: Political Science
ISBN: 080476560X

The focus of this book is on the Japanese economic bureaucracy, particularly on the famous Ministry of International Trade and Industry (MITI), as the leading state actor in the economy. Although MITI was not the only important agent affecting the economy, nor was the state as a whole always predominant, I do not want to be overly modest about the importance of this subject. The particular speed, form, and consequences of Japanese economic growth are not intelligible without reference to the contributions of MITI. Collaboration between the state and big business has long been acknowledged as the defining characteristic of the Japanese economic system, but for too long the state's role in this collaboration has been either condemned as overweening or dismissed as merely supportive, without anyone's ever analyzing the matter. The history of MITI is central to the economic and political history of modern Japan. Equally important, however, the methods and achievements of the Japanese economic bureaucracy are central to the continuing debate between advocates of the communist-type command economies and advocates of the Western-type mixed market economies. The fully bureaucratized command economies misallocate resources and stifle initiative; in order to function at all, they must lock up their populations behind iron curtains or other more or less impermeable barriers. The mixed market economies struggle to find ways to intrude politically determined priorities into their market systems without catching a bad case of the "English disease" or being frustrated by the American-type legal sprawl. The Japanese, of course, do not have all the answers. But given the fact that virtually all solutions to any of the critical problems of the late twentieth century--energy supply, environmental protection, technological innovation, and so forth--involve an expansion of official bureaucracy, the particular Japanese priorities and procedures are instructive. At the very least they should forewarn a foreign observer that the Japanese achievements were not won without a price being paid.

The History of Japanese Economic Development

The History of Japanese Economic Development
Author: Kenichi Ohno
Publisher: Routledge
Total Pages: 262
Release: 2017-09-07
Genre: Business & Economics
ISBN: 131544402X

This is an easy-to-read book that explains how and why Japan industrialized rapidly. It traces historical development from the feudal Edo period to high income and technology in the current period. Catch-up industrialization is analyzed from a broad perspective including social, economic and political aspects. Historical data, research and contesting arguments are amply supplied. Japan’s unique experience is contrasted with the practices of today’s developing countries. Negative aspects such as social ills, policy failures, military movements and war years are also covered. Nineteenth-century Japan already had a happy combination of strong entrepreneurship and relatively wise government, which was the result of Japan’s long evolutionary history. Measured contacts with high civilizations of China, India and the West allowed cumulative growth without being destroyed by them. Imported ideas and technology were absorbed with adjustments to fit the local context. The book grew out of a graduate course for government officials from developing countries. It offers a comprehensive look and new insights at Japan’s industrial path that are often missing in standard historical chronicles. Written in an accessible and lively form, the book engages scholars as well as novices with no prior knowledge of Japan.

The Political Economy of Japan's Low Fertility

The Political Economy of Japan's Low Fertility
Author: Frances McCall Rosenbluth
Publisher: Stanford University Press
Total Pages: 252
Release: 2006-12-08
Genre: Social Science
ISBN: 9780804768207

This book takes an interdisciplinary approach to one of Japan's thorniest public policy issues: why are women increasingly forgoing motherhood? At the heart of the matter lies a paradox: although the overall trend among rich countries is for fertility to decrease as female labor participation increases, gender-friendly countries resist the trend. Conversely, gender-unfriendly countries have lower fertility rates than they would have if they changed their labor markets to encourage the hiring of women—and therein lies Japan's problem. The authors argue that the combination of an inhospitable labor market for women and insufficient support for childcare pushes women toward working harder to promote their careers, to the detriment of childbearing. Controversial and enlightening, this book provides policy recommendations for solving not just Japan's fertility issue but those of other modern democracies facing a similar crisis.

Japanese Monetary Policy

Japanese Monetary Policy
Author: Kenneth J. Singleton
Publisher: University of Chicago Press
Total Pages: 208
Release: 2007-12-01
Genre: Business & Economics
ISBN: 0226760685

How has the Bank of Japan (BOJ) helped shape Japan's economic growth during the past two decades? This book comprehensively explores the relations between financial market liberalization and BOJ policies and examines the ways in which these policies promoted economic growth in the 1980s. The authors argue that the structure of Japan's financial markets, particularly restrictions on money-market transactions and the key role of commercial banks in financing corporate investments, allowed the BOJ to influence Japan's economic success. The first two chapters provide the most in-depth English-language discussion of the BOJ's operating procedures and policymaker's views about how BOJ actions affect the Japanese business cycle. Chapter three explores the impact of the BOJ's distinctive window guidance policy on corporate investment, while chapter four looks at how monetary policy affects the term structure of interest rates in Japan. The final two chapters examine the overall effect of monetary policy on real aggregate economic activity. This volume will prove invaluable not only to economists interested in the technical operating procedures of the BOJ, but also to those interested in the Japanese economy and in the operation and outcome of monetary reform in general.

America and the Japanese Miracle

America and the Japanese Miracle
Author: Aaron Forsberg
Publisher: Univ of North Carolina Press
Total Pages: 353
Release: 2003-06-19
Genre: Political Science
ISBN: 0807860662

In this book, Aaron Forsberg presents an arresting account of Japan's postwar economic resurgence in a world polarized by the Cold War. His fresh interpretation highlights the many connections between Japan's economic revival and changes that occurred in the wider world during the 1950s. Drawing on a wealth of recently released American, British, and Japanese archival records, Forsberg demonstrates that American Cold War strategy and the U.S. commitment to liberal trade played a central role in promoting Japanese economic welfare and in forging the economic relationship between Japan and the United States. The price of economic opportunity and interdependence, however, was a strong undercurrent of mutual frustration, as patterns of conflict and compromise over trade, investment, and relations with China continued to characterize the postwar U.S.-Japanese relationship. Forsberg's emphasis on the dynamic interaction of Cold War strategy, the business environment, and Japanese development challenges "revisionist" interpretations of Japan's success. In exploring the complex origins of the U.S.-led international economy that has outlasted the Cold War, Forsberg refutes the claim that the U.S. government sacrificed American commercial interests in favor of its military partnership with Japan.

21st Century Innovation Systems for Japan and the United States

21st Century Innovation Systems for Japan and the United States
Author: National Research Council
Publisher: National Academies Press
Total Pages: 302
Release: 2009-05-15
Genre: Technology & Engineering
ISBN: 0309136628

Recognizing that a capacity to innovate and commercialize new high-technology products is increasingly a key for the economic growth in the environment of tighter environmental and resource constraints, governments around the world have taken active steps to strengthen their national innovation systems. These steps underscore the belief of these governments that the rising costs and risks associated with new potentially high-payoff technologies, their spillover or externality-generating effects and the growing global competition, require national R&D programs to support the innovations by new and existing high-technology firms within their borders. The National Research Council's Board on Science, Technology, and Economic Policy (STEP) has embarked on a study of selected foreign innovation programs in comparison with major U.S. programs. The "21st Century Innovation Systems for the United States and Japan: Lessons from a Decade of Change" symposium reviewed government programs and initiatives to support the development of small- and medium-sized enterprises, government-university- industry collaboration and consortia, and the impact of the intellectual property regime on innovation. This book brings together the papers presented at the conference and provides a historical context of the issues discussed at the symposium.