Author: Frances Rosenbluth
Publisher: Princeton University Press
ISBN: 1400835097
Category : Political Science
Languages : en
Pages : 263
Book Description
With little domestic fanfare and even less attention internationally, Japan has been reinventing itself since the 1990s, dramatically changing its political economy, from one managed by regulations to one with a neoliberal orientation. Rebuilding from the economic misfortunes of its recent past, the country retains a formidable economy and its political system is healthier than at any time in its history. Japan Transformed explores the historical, political, and economic forces that led to the country's recent evolution, and looks at the consequences for Japan's citizens and global neighbors. The book examines Japanese history, illustrating the country's multiple transformations over the centuries, and then focuses on the critical and inexorable advance of economic globalization. It describes how global economic integration and urbanization destabilized Japan's postwar policy coalition, undercut the ruling Liberal Democratic Party's ability to buy votes, and paved the way for new electoral rules that emphasized competing visions of the public good. In contrast to the previous system that pitted candidates from the same party against each other, the new rules tether policymaking to the vast swath of voters in the middle of the political spectrum. Regardless of ruling party, Japan's politics, economics, and foreign policy are on a neoliberal path. Japan Transformed combines broad context and comparative analysis to provide an accurate understanding of Japan's past, present, and future.
Japan Transformed
Author: Frances Rosenbluth
Publisher: Princeton University Press
ISBN: 1400835097
Category : Political Science
Languages : en
Pages : 263
Book Description
With little domestic fanfare and even less attention internationally, Japan has been reinventing itself since the 1990s, dramatically changing its political economy, from one managed by regulations to one with a neoliberal orientation. Rebuilding from the economic misfortunes of its recent past, the country retains a formidable economy and its political system is healthier than at any time in its history. Japan Transformed explores the historical, political, and economic forces that led to the country's recent evolution, and looks at the consequences for Japan's citizens and global neighbors. The book examines Japanese history, illustrating the country's multiple transformations over the centuries, and then focuses on the critical and inexorable advance of economic globalization. It describes how global economic integration and urbanization destabilized Japan's postwar policy coalition, undercut the ruling Liberal Democratic Party's ability to buy votes, and paved the way for new electoral rules that emphasized competing visions of the public good. In contrast to the previous system that pitted candidates from the same party against each other, the new rules tether policymaking to the vast swath of voters in the middle of the political spectrum. Regardless of ruling party, Japan's politics, economics, and foreign policy are on a neoliberal path. Japan Transformed combines broad context and comparative analysis to provide an accurate understanding of Japan's past, present, and future.
Publisher: Princeton University Press
ISBN: 1400835097
Category : Political Science
Languages : en
Pages : 263
Book Description
With little domestic fanfare and even less attention internationally, Japan has been reinventing itself since the 1990s, dramatically changing its political economy, from one managed by regulations to one with a neoliberal orientation. Rebuilding from the economic misfortunes of its recent past, the country retains a formidable economy and its political system is healthier than at any time in its history. Japan Transformed explores the historical, political, and economic forces that led to the country's recent evolution, and looks at the consequences for Japan's citizens and global neighbors. The book examines Japanese history, illustrating the country's multiple transformations over the centuries, and then focuses on the critical and inexorable advance of economic globalization. It describes how global economic integration and urbanization destabilized Japan's postwar policy coalition, undercut the ruling Liberal Democratic Party's ability to buy votes, and paved the way for new electoral rules that emphasized competing visions of the public good. In contrast to the previous system that pitted candidates from the same party against each other, the new rules tether policymaking to the vast swath of voters in the middle of the political spectrum. Regardless of ruling party, Japan's politics, economics, and foreign policy are on a neoliberal path. Japan Transformed combines broad context and comparative analysis to provide an accurate understanding of Japan's past, present, and future.
Macro Effects of Corporate Restructuring in Japan
Author: Mr.Se-Jik Kim
Publisher: International Monetary Fund
ISBN: 1451874472
Category : Business & Economics
Languages : en
Pages : 34
Book Description
This paper presents a framework for quantitatively evaluating the macroeconomic effects of corporate restructuring and applies it to Japan. Using firm-level financial statement data, it estimates total factor productivity (TFP) of individual Japanese firms. Given the estimated distribution of productivity across firms, the paper simulates the effect of optimal restructuring, that is, reallocation of resources from less-productive firms to more-productive ones, on the dynamic path of aggregate output. The results show that the benefits of restructuring could substantially exceed the costs.
Publisher: International Monetary Fund
ISBN: 1451874472
Category : Business & Economics
Languages : en
Pages : 34
Book Description
This paper presents a framework for quantitatively evaluating the macroeconomic effects of corporate restructuring and applies it to Japan. Using firm-level financial statement data, it estimates total factor productivity (TFP) of individual Japanese firms. Given the estimated distribution of productivity across firms, the paper simulates the effect of optimal restructuring, that is, reallocation of resources from less-productive firms to more-productive ones, on the dynamic path of aggregate output. The results show that the benefits of restructuring could substantially exceed the costs.
Japan's Bubble, Deflation, and Long-term Stagnation
Author: Kōichi Hamada
Publisher: MIT Press
ISBN: 0262014890
Category : Business & Economics
Languages : en
Pages : 435
Book Description
New perspectives on Japan's "lost decade" viewed in the context of recent financial turmoil.
Publisher: MIT Press
ISBN: 0262014890
Category : Business & Economics
Languages : en
Pages : 435
Book Description
New perspectives on Japan's "lost decade" viewed in the context of recent financial turmoil.
Financial Policy and Central Banking in Japan
Author: Thomas F. Cargill
Publisher: MIT Press
ISBN: 026226210X
Category : Business & Economics
Languages : en
Pages : 205
Book Description
This book analyzes how the bank-dominated financial system—a key element of the oft-heralded "Japanese economic model"—broke down in the 1990s and spawned sweeping reforms. Japan's financial institutions and policy underwent remarkable change in the past decade. The country began the 1990s with a heavily regulated financial system managed by an unchallenged Ministry of Finance and ended the decade with a Big Bang financial market reform, a complete restructuring of its regulatory financial institutions, and an independent central bank. These reforms have taken place amid recession and rising unemployment, collapsing asset prices, a looming banking crisis, and the lowest interest rates in the industrial world. This book analyzes how the bank-dominated financial system—a key element of the oft-heralded "Japanese economic model"—broke down in the 1990s and spawned sweeping reforms. It documents the sources of the Japanese economic stagnation of the 1990s, the causes of the financial crisis, the slow and initially limited policy response to banking problems, and the reform program that followed. It also evaluates the new financial structure and reforms at the Bank of Japan in light of the challenges facing the Japanese economy. These challenges range from conducting monetary policy in a zero-interest rate environment characterized by a "liquidity trap" to managing consolidation in the Japanese banking sector against the backdrop of increasing international competition.
Publisher: MIT Press
ISBN: 026226210X
Category : Business & Economics
Languages : en
Pages : 205
Book Description
This book analyzes how the bank-dominated financial system—a key element of the oft-heralded "Japanese economic model"—broke down in the 1990s and spawned sweeping reforms. Japan's financial institutions and policy underwent remarkable change in the past decade. The country began the 1990s with a heavily regulated financial system managed by an unchallenged Ministry of Finance and ended the decade with a Big Bang financial market reform, a complete restructuring of its regulatory financial institutions, and an independent central bank. These reforms have taken place amid recession and rising unemployment, collapsing asset prices, a looming banking crisis, and the lowest interest rates in the industrial world. This book analyzes how the bank-dominated financial system—a key element of the oft-heralded "Japanese economic model"—broke down in the 1990s and spawned sweeping reforms. It documents the sources of the Japanese economic stagnation of the 1990s, the causes of the financial crisis, the slow and initially limited policy response to banking problems, and the reform program that followed. It also evaluates the new financial structure and reforms at the Bank of Japan in light of the challenges facing the Japanese economy. These challenges range from conducting monetary policy in a zero-interest rate environment characterized by a "liquidity trap" to managing consolidation in the Japanese banking sector against the backdrop of increasing international competition.
Management of Enterprise Crises in Japan
Author: Yasuhiro Monden
Publisher: World Scientific
ISBN: 9814508519
Category : Business & Economics
Languages : en
Pages : 209
Book Description
This book focuses on various business practices to manage ailing companies during economic depression or in the aftermath of man-made and natural disasters. The methods implemented by various Japanese enterprises, such as Japan Air Line, Tokyo Electricity Company, Nissan and Toyota, to overcome their challenges are elaborated in this book. The scope of the book covers: restructuring under government financial support; private turnaround management of huge conglomerates; reorganization of business domains; accounting for risk management, and robust supply chain management in the aftermath of disasters.
Publisher: World Scientific
ISBN: 9814508519
Category : Business & Economics
Languages : en
Pages : 209
Book Description
This book focuses on various business practices to manage ailing companies during economic depression or in the aftermath of man-made and natural disasters. The methods implemented by various Japanese enterprises, such as Japan Air Line, Tokyo Electricity Company, Nissan and Toyota, to overcome their challenges are elaborated in this book. The scope of the book covers: restructuring under government financial support; private turnaround management of huge conglomerates; reorganization of business domains; accounting for risk management, and robust supply chain management in the aftermath of disasters.
Reworking Japan
Author: Nana Okura Gagné
Publisher: Cornell University Press
ISBN: 1501753045
Category : Social Science
Languages : en
Pages : 191
Book Description
Reworking Japan examines how the past several decades of neoliberal economic restructuring and reforms have challenged Japan's corporate ideologies, gendered relations, and subjectivities of individual employees. With Japan's remarkable economic growth since the 1950s, the lifestyles and life courses of "salarymen" came to embody the "New Middle Class" family ideal. However, the nearly three decades of economic stagnation and reforms since the bursting of the economic bubble in the early 1990s has intensified corporate retrenchment under the banner of neoliberal restructuring and brought new challenges to employees and their previously protected livelihoods. In a sweeping appraisal of recent history, Gagné demonstrates how economic restructuring has reshaped Japanese corporations, workers, and ideals, as well as how Japanese companies and employees have resisted and actively responded to such changes. Gagné explores Japan's fraught and problematic transition from the postwar ideology of "companyism" to the emergent ideology of neoliberalism and the subsequent large-scale economic restructuring. By juxtaposing Japan's economic transformation with an ethnography of work and play, and individual life histories, Gagné goes beyond the abstract to explore the human dimension of the neoliberal reforms that have impacted the nation's corporate governance, socioeconomic class, workers' subjectivities, and family relations. Reworking Japan, with its firsthand analysis of how the supposedly hegemonic neoliberal regime does not completely transform existing cultural frames and social relations, will shake up preconceived ideas about Japanese men and the social effects of neoliberalism.
Publisher: Cornell University Press
ISBN: 1501753045
Category : Social Science
Languages : en
Pages : 191
Book Description
Reworking Japan examines how the past several decades of neoliberal economic restructuring and reforms have challenged Japan's corporate ideologies, gendered relations, and subjectivities of individual employees. With Japan's remarkable economic growth since the 1950s, the lifestyles and life courses of "salarymen" came to embody the "New Middle Class" family ideal. However, the nearly three decades of economic stagnation and reforms since the bursting of the economic bubble in the early 1990s has intensified corporate retrenchment under the banner of neoliberal restructuring and brought new challenges to employees and their previously protected livelihoods. In a sweeping appraisal of recent history, Gagné demonstrates how economic restructuring has reshaped Japanese corporations, workers, and ideals, as well as how Japanese companies and employees have resisted and actively responded to such changes. Gagné explores Japan's fraught and problematic transition from the postwar ideology of "companyism" to the emergent ideology of neoliberalism and the subsequent large-scale economic restructuring. By juxtaposing Japan's economic transformation with an ethnography of work and play, and individual life histories, Gagné goes beyond the abstract to explore the human dimension of the neoliberal reforms that have impacted the nation's corporate governance, socioeconomic class, workers' subjectivities, and family relations. Reworking Japan, with its firsthand analysis of how the supposedly hegemonic neoliberal regime does not completely transform existing cultural frames and social relations, will shake up preconceived ideas about Japanese men and the social effects of neoliberalism.
Japan Remodeled
Author: Steven Kent Vogel
Publisher: Cornell University Press
ISBN: 9780801473715
Category : Business & Economics
Languages : en
Pages : 276
Book Description
As the Japanese economy languished in the 1990s Japanese government officials, business executives, and opinion leaders concluded that their economic model had gone terribly wrong. They questioned the very institutions that had been credited with Japan's past success: a powerful bureaucracy guiding the economy, close government-industry ties, "lifetime" employment, the main bank system, and dense interfirm networks. Many of these leaders turned to the U.S. model for lessons, urging the government to liberate the economy and companies to sever long-term ties with workers, banks, suppliers, and other firms.Despite popular perceptions to the contrary, Japanese government and industry have in fact enacted substantial reforms. Yet Japan never emulated the American model. As government officials and industry leaders scrutinized their options, they selected reforms to modify or reinforce preexisting institutions rather than to abandon them. In Japan Remodeled, Steven Vogel explains the nature and extent of these reforms and why they were enacted.Vogel demonstrates how government and industry have devised innovative solutions. The cumulative result of many small adjustments is, he argues, an emerging Japan that has a substantially redesigned economic model characterized by more selectivity in business partnerships, more differentiation across sectors and companies, and more openness to foreign players.
Publisher: Cornell University Press
ISBN: 9780801473715
Category : Business & Economics
Languages : en
Pages : 276
Book Description
As the Japanese economy languished in the 1990s Japanese government officials, business executives, and opinion leaders concluded that their economic model had gone terribly wrong. They questioned the very institutions that had been credited with Japan's past success: a powerful bureaucracy guiding the economy, close government-industry ties, "lifetime" employment, the main bank system, and dense interfirm networks. Many of these leaders turned to the U.S. model for lessons, urging the government to liberate the economy and companies to sever long-term ties with workers, banks, suppliers, and other firms.Despite popular perceptions to the contrary, Japanese government and industry have in fact enacted substantial reforms. Yet Japan never emulated the American model. As government officials and industry leaders scrutinized their options, they selected reforms to modify or reinforce preexisting institutions rather than to abandon them. In Japan Remodeled, Steven Vogel explains the nature and extent of these reforms and why they were enacted.Vogel demonstrates how government and industry have devised innovative solutions. The cumulative result of many small adjustments is, he argues, an emerging Japan that has a substantially redesigned economic model characterized by more selectivity in business partnerships, more differentiation across sectors and companies, and more openness to foreign players.
Restructuring the Economy of the 21st Century in Japan and Germany
Author: Franz Schober
Publisher: Duncker & Humblot
ISBN: 9783428499359
Category : Business & Economics
Languages : en
Pages : 230
Book Description
This book contains the revised and updated versions of twelve papers which were presented at the 17th joint seminar of the faculties of economics of the Universities of Nagoya and Freiburg. The seminar took place in 1997 in Nagoya and marked the 25th anniversary of the cooperation between both faculties. The subjects of the book concentrate on long-term economic and business issues common to Japan and Germany on the turn of our century.Firstly, both countries experience continuing and interrelated problems in the labor market, budget deficits, demographic changes and the future of the social security system. Secondly, globalization, technical progress and shift of social values lead to structural changes of the economy and its institutions, particularly to deregulations and network economies. As a consequence, new ways of cooperation between firms, customers and suppliers will be established. Thirdly, the network economy changes also the inner structure and management of the companies in both countries including new organizational patterns such as the holding company or the virtual enterprise, the tight cooperation of small and medium-sized companies, human resource management and compensation.Although the broad issues in both countries - as in other mature economies - are essentially the same, the details under the surface are different and therefore ask for different solutions. The identification of these similarities and differences by theoretical and empirical methods constituted a key objective of the seminar, as well as of previous seminars.
Publisher: Duncker & Humblot
ISBN: 9783428499359
Category : Business & Economics
Languages : en
Pages : 230
Book Description
This book contains the revised and updated versions of twelve papers which were presented at the 17th joint seminar of the faculties of economics of the Universities of Nagoya and Freiburg. The seminar took place in 1997 in Nagoya and marked the 25th anniversary of the cooperation between both faculties. The subjects of the book concentrate on long-term economic and business issues common to Japan and Germany on the turn of our century.Firstly, both countries experience continuing and interrelated problems in the labor market, budget deficits, demographic changes and the future of the social security system. Secondly, globalization, technical progress and shift of social values lead to structural changes of the economy and its institutions, particularly to deregulations and network economies. As a consequence, new ways of cooperation between firms, customers and suppliers will be established. Thirdly, the network economy changes also the inner structure and management of the companies in both countries including new organizational patterns such as the holding company or the virtual enterprise, the tight cooperation of small and medium-sized companies, human resource management and compensation.Although the broad issues in both countries - as in other mature economies - are essentially the same, the details under the surface are different and therefore ask for different solutions. The identification of these similarities and differences by theoretical and empirical methods constituted a key objective of the seminar, as well as of previous seminars.
Reviving Japan's Economy
Author: Takatoshi Itō
Publisher: MIT Press
ISBN:
Category : Business & Economics
Languages : en
Pages : 452
Book Description
Analysis and policy prescriptions for Japan's sustained economic recovery from its 14-year malaise by 15 top American and Japanese experts on the subject. Japan, the world's second largest economy, has suffered from a prolonged period of stagnation and malaise since 1991. Subpar growth, failing banks, plummeting real estate and stock prices, deflation, unprecedented unemployment, and huge government liabilities have persisted, despite extraordinary fiscal and monetary policy fixes. In Reviving Japan's Economy, 16 top American and Japanese experts analyze Japan's underperforming economy, and develop and recommend policy solutions aimed at achieving Japan's growth potential, improving the quality of life for the Japanese people, and strengthening Japan's contribution to the global economy. A collaborative effort that grew out of a research project begun in 2002 and sponsored by the Center on Japanese Economy and Business at Columbia University and the Research Center for Advanced Science and Technology at the University of Tokyo, the book looks to the future while having as its foundation a careful analysis of Japan's recent economic history. The contributing authors examine such topics as the long-term economic, demographic, social, and political transformation now underway in Japan; the costs of the long economic malaise; lessons for the United States from Japan's post-bubble mistakes; aggregate demand and macroeconomic policy; monetary policy; financial system difficulties; issues facing the Japanese labor market; corporate restructuring and financing; and Japan's new trade policy. The feasible, optimal policy solutions offered in this book aim to prompt a revival of Japan's long-run economic vitality.
Publisher: MIT Press
ISBN:
Category : Business & Economics
Languages : en
Pages : 452
Book Description
Analysis and policy prescriptions for Japan's sustained economic recovery from its 14-year malaise by 15 top American and Japanese experts on the subject. Japan, the world's second largest economy, has suffered from a prolonged period of stagnation and malaise since 1991. Subpar growth, failing banks, plummeting real estate and stock prices, deflation, unprecedented unemployment, and huge government liabilities have persisted, despite extraordinary fiscal and monetary policy fixes. In Reviving Japan's Economy, 16 top American and Japanese experts analyze Japan's underperforming economy, and develop and recommend policy solutions aimed at achieving Japan's growth potential, improving the quality of life for the Japanese people, and strengthening Japan's contribution to the global economy. A collaborative effort that grew out of a research project begun in 2002 and sponsored by the Center on Japanese Economy and Business at Columbia University and the Research Center for Advanced Science and Technology at the University of Tokyo, the book looks to the future while having as its foundation a careful analysis of Japan's recent economic history. The contributing authors examine such topics as the long-term economic, demographic, social, and political transformation now underway in Japan; the costs of the long economic malaise; lessons for the United States from Japan's post-bubble mistakes; aggregate demand and macroeconomic policy; monetary policy; financial system difficulties; issues facing the Japanese labor market; corporate restructuring and financing; and Japan's new trade policy. The feasible, optimal policy solutions offered in this book aim to prompt a revival of Japan's long-run economic vitality.
Entrepreneurial States
Author: Yves Tiberghien
Publisher: Cornell University Press
ISBN: 0801462444
Category : Political Science
Languages : en
Pages : 280
Book Description
In Entrepreneurial States, an innovative examination of the comparative politics of reform in stakeholder systems, Yves Tiberghien analyzes the modern partnership between the state and global capital in attaining structural domestic change. The emergence of a powerful global equity market has altered incentives for the state and presented political leaders with a "golden bargain"—the infusion of abundant and cheap capital into domestic stock markets in exchange for reform of corporate governance and other regulatory changes. Drawing on extensive archival research and interviews with policy and corporate elites in Europe and East Asia, Tiberghien asks why states such as Korea and France have embraced this opportunity and engaged in far-reaching reforms to make their companies more attractive to foreign capital, whereas Japan and Germany have moved forward much more grudgingly. Interest groups and electoral institutions have their impacts, but by tracing the unfolding dynamic of reform under different constraints, Tiberghien shows that the role of political entrepreneurs is critical. Such policy elites act as mediators between global forces and national constraints. As risk takers and bargain builders, Tiberghien finds, they use corporate reform to reshape their political parties and to stake out new policy ground. The degree of political autonomy available to them and the domestic organization of bureaucratic responsibility determine their ability to succeed.
Publisher: Cornell University Press
ISBN: 0801462444
Category : Political Science
Languages : en
Pages : 280
Book Description
In Entrepreneurial States, an innovative examination of the comparative politics of reform in stakeholder systems, Yves Tiberghien analyzes the modern partnership between the state and global capital in attaining structural domestic change. The emergence of a powerful global equity market has altered incentives for the state and presented political leaders with a "golden bargain"—the infusion of abundant and cheap capital into domestic stock markets in exchange for reform of corporate governance and other regulatory changes. Drawing on extensive archival research and interviews with policy and corporate elites in Europe and East Asia, Tiberghien asks why states such as Korea and France have embraced this opportunity and engaged in far-reaching reforms to make their companies more attractive to foreign capital, whereas Japan and Germany have moved forward much more grudgingly. Interest groups and electoral institutions have their impacts, but by tracing the unfolding dynamic of reform under different constraints, Tiberghien shows that the role of political entrepreneurs is critical. Such policy elites act as mediators between global forces and national constraints. As risk takers and bargain builders, Tiberghien finds, they use corporate reform to reshape their political parties and to stake out new policy ground. The degree of political autonomy available to them and the domestic organization of bureaucratic responsibility determine their ability to succeed.