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Author: Bai Gao Publisher: Cambridge University Press ISBN: 9780521793735 Category : Business & Economics Languages : en Pages : 320
Book Description
The Japanese economy, after decades of seemingly unsurpassable competitiveness, experienced a major crisis in the 1990s. Observers of Japan are faced with a challenging question: How can one explain Japan's reversal from stunning prosperity to dismal stagnation? Bai Gao, in this illuminating, comprehensive analysis of Japan's economic story goes beyond other analyses to demonstrate how the same economic institutions could produce both stunning economic success and the slump of the 1990s. By comparing the factors that sustained miracle growth in Japan in the 1960s and 1970s with the factors that led to the bubble economy of the late 1980s, Gao sheds new light on internal tensions in the Japanese economic system and how, finally, they 'burst the bubble' in the 1990s. Those who have been following the lively debate over 'What Became of the Japanese Miracle?' will be rewarded by Gao's richly detailed, historically informed, and multilayered contribution.
Author: Bai Gao Publisher: Cambridge University Press ISBN: 9780521793735 Category : Business & Economics Languages : en Pages : 320
Book Description
The Japanese economy, after decades of seemingly unsurpassable competitiveness, experienced a major crisis in the 1990s. Observers of Japan are faced with a challenging question: How can one explain Japan's reversal from stunning prosperity to dismal stagnation? Bai Gao, in this illuminating, comprehensive analysis of Japan's economic story goes beyond other analyses to demonstrate how the same economic institutions could produce both stunning economic success and the slump of the 1990s. By comparing the factors that sustained miracle growth in Japan in the 1960s and 1970s with the factors that led to the bubble economy of the late 1980s, Gao sheds new light on internal tensions in the Japanese economic system and how, finally, they 'burst the bubble' in the 1990s. Those who have been following the lively debate over 'What Became of the Japanese Miracle?' will be rewarded by Gao's richly detailed, historically informed, and multilayered contribution.
Author: Mireya Solis Publisher: Brookings Institution Press ISBN: 0815729200 Category : Business & Economics Languages : en Pages : 176
Book Description
The balancing of competing interests and goals will have momentous consequences for Japan—and the United States—in their quest for economic growth, social harmony, and international clout. Japan and the United States face difficult choices in charting their paths ahead as trading nations. Tokyo has long aimed for greater decisiveness, which would allow it to move away from a fragmented policymaking system favoring the status quo in order to enable meaningful internal reforms and acquire a larger voice in trade negotiations. And Washington confronts an uphill battle in rebuilding a fraying domestic consensus in favor of internationalism essential to sustain its leadership role as a champion of free trade. In Dilemmas of a Trading Nation, Mireya Solís describes how accomplishing these tasks will require the skillful navigation of vexing tradeoffs that emerge from pursuing desirable, but to some extent contradictory goals: economic competitiveness, social legitimacy, and political viability. Trade policy has catapulted front and center to the national conversations taking place in each country about their desired future direction—economic renewal, a relaunched social compact, and projected international influence. Dilemmas of a Trading Nation underscores the global consequences of these defining trade dilemmas for Japan and the United States: decisiveness, reform, internationalism. At stake is the ability of these leading economies to upgrade international economic rules and create incentives for emerging economies to converge toward these higher standards. At play is the reaffirmation of a rules-based international order that has been a source of postwar stability, the deepening of a bilateral alliance at the core of America's diplomacy in Asia, and the ability to reassure friends and rivals of the staying power of the United States. In the execution of trade policy today, we are witnessing an international leadership test dominated by domestic governance dilemmas.
Author: Bai Gao Publisher: ISBN: 9780511328510 Category : Financial crises Languages : en Pages : 300
Book Description
Bai Gao's analysis of Japan's economic story goes beyond other analyses to demonstrate how the same economic institutions could produce stunning economic success and the slump of the 1990s. Those who have been following the lively debate over 'What became of the Japanese miracle?' will be rewarded by Gao's contribution.
Author: James William Morley Publisher: Princeton University Press ISBN: 1400872901 Category : History Languages : en Pages : 538
Book Description
The sixth and final volume in the series published for the Conference on Modern Japan reviews the political, economic and foreign policy problems faced by Japan during the 1930's and '40's. James Morley's introductory chapter, "Choice and Consequence," and Edwin O. Reisehauer's conclusion. "What Went Wrong?" define the context of the discussion. Contents: "Foreword," John Whitney Hall. 1. "Introduction: Choice and Consequence," James William Morley. PART ONE: Political and Military. II. "The Bureaucracy as a Political Force, 1920-45," Robert M. Spaulding, Jr. III. "Retrogression in Japan's Foreign Policy Decision-Making Process," Chihiro Hosoya. IV. "The Failure of Military Expansionism," Akira Iriye. V. "The Radical Left and the Failure of Communism," George M. Beekmann. PART TWO: Economic and Social. VI. "Rural Origins of Japanese Fascism," R. P. Dore and Tsutomu Ouchi. VII. "The Economic Muddle of the 192O's," Hugh I. Patrick. VIII. "Big Business and Politics in Prewar Japan," Arthur E. Tiedemann. PAKT THREE: Intellectual. IX. "Intellectuals as Visionaries of the New Asian Order," James B. Crowley. X. "Nakano Seigo and the Spirit of the Meiji Restoration in Twentieth- Century Japan," Tetsuo Najita. XI. "Oyama Ikuo and the Search for Democracy," Peter Duus. PART FOUR: Comparisons and Conclusions. XII. "Japan and Germany in the Interwar Period," Kentaro Hayashi. XIII. "What Went Wrong?" Edwin O. Reischauer. Index. Originally published in 1972. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.
Author: Kenneth J. Singleton Publisher: University of Chicago Press ISBN: 0226760685 Category : Business & Economics Languages : en Pages : 208
Book Description
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.
Author: Masaaki Shirakawa Publisher: Yale University Press ISBN: 0300263007 Category : Business & Economics Languages : en Pages : 534
Book Description
A rare insider’s account of the inner workings of the Japanese economy, and the Bank of Japan’s monetary policy, by a career central banker The Japanese economy, once the envy of the world for its dynamism and growth, lost its shine after a financial bubble burst in early 1990s and slumped further during the Global Financial Crisis in 2008. It suffered even more damage in 2011, when a severe earthquake set off the Fukushima Daiichi nuclear disaster. However, the Bank of Japan soldiered on to combat low inflation, low growth, and low interest rates, and in many ways it served as a laboratory for actions taken by central banks in other parts of the world. Masaaki Shirakawa, who led the bank as governor from 2008 to 2013, provides a rare insider’s account of the workings of Japanese economic and monetary policy during this period and how it challenged mainstream economic thinking.
Author: Hiroshi Mikitani Publisher: John Wiley & Sons ISBN: 1119000602 Category : Business & Economics Languages : en Pages : 242
Book Description
"If you're as interested in Japan as I am, I think you'll find that The Power to Compete is a smart and thought-provoking look at the future of a fascinating country." - Bill Gates, "5 Books to Read This Summer" Father and son – entrepreneur and economist – search for Japan's economic cure The Power to Compete tackles the issues central to the prosperity of Japan – and the world – in search of a cure for the "Japan Disease." As founder and CEO of Rakuten, one of the world's largest Internet companies, author Hiroshi Mikitani brings an entrepreneur's perspective to bear on the country's economic stagnation. Through a freewheeling and candid conversation with his economist father, Ryoichi Mikitani, the two examine the issues facing Japan, and explore possible roadmaps to revitalization. How can Japan overhaul its economy, education system, immigration, public infrastructure, and hold its own with China? Their ideas include applying business techniques like Key Performance Indicators to fix the economy, using information technology to cut government bureaucracy, and increasing the number of foreign firms with a head office in Japan. Readers gain rare insight into Japan's future, from both academic and practical perspectives on the inside. Mikitani argues that Japan's tendency to shun international frameworks and hide from global realities is the root of the problem, while Mikitani Sr.'s background as an international economist puts the issue in perspective for a well-rounded look at today's Japan. Examine the causes of Japan's endless economic stagnation Discover the current efforts underway to enhance Japan's competitiveness Learn how free market "Abenomics" affected Japan's economy long-term See Japan's issues from the perspective of an entrepreneur and an economist Japan's malaise is seated in a number of economic, business, political, and cultural issues, and this book doesn't shy away from hot topics. More than a discussion of economics, this book is a conversation between father and son as they work through opposing perspectives to help their country find The Power to Compete.
Author: Alexandra Sakaki Publisher: Brookings Institution Press ISBN: 0815737378 Category : Political Science Languages : en Pages : 294
Book Description
Can Germany and Japan do more militarily to uphold the international order? Since the end of World War II, Germany and Japan have been the most reluctant of all major U.S. allies to take on military responsibilities. Given their histories, this reluctance certainly is understandable. But because of their size and economic importance, Germany and Japan are the most important U.S. allies in Europe and in East Asia, respectively, and their long-term reluctance to share the defense burden has become a perennial source of frustration for Washington. The potential security roles of Germany and Japan are becoming increasingly important given the uncertainty, indeed volatility, of today’s international environment. Under President Trump, friction among allies over burden-sharing is more intense than ever before. Meanwhile, the security environments in Europe and Asia have deteriorated because of the resurgence of a belligerent Russia under Vladimir Putin, the steady rise of an increasingly assertive China, and North Korea’s worrisome acquisition of nuclear weapons. Partly in response to these developments, Germany and Japan in recent years have boosted their security efforts, mainly by increasing defense spending and taking on a somewhat broader range of military missions. Even so, because of their cultures of anti-militarism resistance remains strong in both countries to rebuilding the military and assuming more responsibility for sustaining regional or even global peace. In Reluctant Warriors, a team of noted international experts critically examines how and why Germany and Japan have modified their military postures since 1990 so far, and assesses how far the countries still have to go—and why. The contributors also highlight the risks the United States takes if it makes too simplistic a demand for the two countries to “do more.”
Author: Naoyuki Yoshino Publisher: Springer ISBN: 981105021X Category : Business & Economics Languages : en Pages : 187
Book Description
This book discusses Japan’s long-term economic recession and provides remedies for that recession that are useful for other Asian economies. The book addresses why Japan’s economy has stagnated since the bursting of its economic bubble in the 1990s. Its empirical analysis challenges the beliefs of some economists, such as Paul Krugman, that the Japanese economy is caught in a liquidity trap. This book argues that Japan’s economic stagnation stems from a vertical “investment–saving” (IS) curve rather than a liquidity trap. The impact of fiscal policy has declined drastically, and the Japanese economy faces structural problems rather than a temporary downturn. These structural problems have many causes: an aging demographic (a problem that is frequently overlooked), an over-reliance by local governments on transfers from the central government, and Basel capital requirements that have made Japanese banks reluctant to lend money to start-up businesses and small and medium-sized enterprises. This latter issue has discouraged Japanese innovation and technological progress. All these issues are addressed empirically and theoretically, and several remedies for Japan’s long-lasting recession are provided. This volume will be of interest to researchers and policy makers not only in Japan but also the People’s Republic of China, many countries in the eurozone, and the United States, which may face similar challenges in the future.
Author: Bai Gao
Author: Bai Gao
Author: Mireya Solis
Author: Bai Gao
Author: James William Morley
Author: Richard Katz
Author: Kenneth J. Singleton
Author: Masaaki Shirakawa
Author: Hiroshi Mikitani
Author: Alexandra Sakaki
Author: Naoyuki Yoshino