The Japanese Economy And Economic Issues Since 1945

First Published in 1999. The best scholarship on the development of contemporary Japan This collection presents well over 100 scholarly articles on modern Japanese society, written by leading scholars in the field. These selections have been drawn from the most distinguished scholarly journals as well as from journals that are less well known among specialists; and the articles represent the best and most important scholarship on their particular topic. An understanding of the present through the lens of the past The field of modern Japan studies has grown steadily as Westerners have recognized the importance of Japan as a lading world economic force and an emerging regional power. The post-1945 economic success of the Japanese has, however, been achieved in the context of that nation's history, social structure, educational enterprise and political environment. It is impossible to understand the postwar economic miracle without an appreciation of these elements. Japan's economic emergence has brought about and in some cases, exacerbated already existing tensions, and these tensions have, in turn, had a significant impact on Japanese economic life. The series is designed to give readers a basic understanding of modern Japan-its institutions and its people-as we stand on the threshold of a new century, often referred to as "the Pacific Century".

Japan's rise to political and economic prominence has been one of the most dramatic developments in the postwar world. Japan has the world's second largest economy and is undoubtedly an economic superpower. It is situated in the most dynamic economic region in the world, and Japan's economic power is bestowing increasing political significance on the country. This book provides a vital key to understanding this momentous transformation by giving a clear historical account of the process of Japanese economic, political and social change since the Second World War. It sets postwar Japan in its historical context, highlighting the essential continuities with the prewar world as well as detailing the changes which have occurred in Japan since 1945. The author explores such issues as Japan's prewar legacy, the importance of the American occupation to Japan's subsequent development, the creation of the postwar political structure, the sources of Japan's economic growth and the changing nature of Japanese politics and the economy in the 1970s and 1980s. The impact which this economic and political transformation has had on the Japanese people is also explored. The book ends with an account of Japan's serious economic recession in the early 1990s and the end of the Liberal Democrat Party's monopoly of government in 1993-4.

This book introduces students of the Japanese economy to a broad range of critical contemporary Marxian analyses by Japanese economists. Each of the five essays - on economic policy, agriculture, big business, labour relations, and foreign trade and investment - is written by a specialist in the field. The introduction places the essays in the wider context of contrasting theories of Japanese economic development. While such writings constitute an important part of the economic literature in Japan, virtually none of the great body of Marxian writing on Japanese capitalism has heretofore been available in English.

Japan's rise to political and economic prominence has been one of the most dramatic developments in the postwar world. Japan has the world's second largest economy and is undoubtedly an economic superpower. It is situated in the most dynamic economic region in the world, and Japan's economic power is bestowing increasing political significance on the country. This book provides a vital key to understanding this momentous transformation by giving a clear historical account of the process of Japanese economic, political and social change since the Second World War. It sets postwar Japan in its historical context, highlighting the essential continuities with the prewar world as well as detailing the changes which have occurred in Japan since 1945. The author explores such issues as Japan's prewar legacy, the importance of the American occupation to Japan's subsequent development, the creation of the postwar political structure, the sources of Japan's economic growth and the changing nature of Japanese politics and the economy in the 1970s and 1980s. The impact which this economic and political transformation has had on the Japanese people is also explored. The book ends with an account of Japan's serious economic recession in the early 1990s and the end of the Liberal Democrat Party's monopoly of government in 1993-4.

Since the end of World War II, the Japanese economy has seen rapid changes and remarkable progress. It has also experienced a bubble economy and period of prolonged stagnation. The book seeks to address three major questions: What kind of changes have taken place in the postwar years? In what sense has there been progress? What lessons can be drawn from the experiences? The book is organized as follows: It begins with an overview of the postwar Japanese economy, using data to highlight historical changes. The four major economic issues in the postwar Japanese economy (economic restoration, rapid economic growth, the bubble economy and current topics) are addressed, with particular focus on the meaning of economic growth and the bubble economy. The next chapters examine the important economic issues for Japan related to a welfare-oriented society, including income distribution, asset distribution, and the relative share of income. Another chapter deals with the household structure of Japan, the pension issue, and the importance of the effect of demographic change on income distribution. The final chapter gives a brief summary, examines quality of life as a lesson of this research, and briefly outlines a proposal for a basic design towards achieving a high satisfaction level society. This book will be of interest to economists, economic historians and political scientists and would be useful as a text for any course on the Japanese economy.

Seminar paper from the year 2022 in the subject Economics - Other, grade: 1,0, University of applied sciences, Cologne, course: International Economics Policy, language: English, abstract: The aim of this work is to analyze Japan’s historical economy to discover how the successful and rapid economic development is achieved after World War II. How are they able to grow their infant industry’s and to become an exporting nation? The question that raises is also why other developing countries have not reached success although they follow given guidance? Does the reconstruction of the economy impact the Japanese society? If yes, in which way? This work analyzes which factors have brought Japan to success and what was important in order to reach success. There is still war in this world today, possibilities for action for countries should be elaborated. However, another question that raises is if this can still be taken as recommendation many decades later.

In terms of output, the USSR and Japan account for one-fifth of the world's economy, occupying second and third places behind the United States. Japan has the world's fastest growth of per capita income and the USSR has not lagged far behind. But a century ago they were static feudal societies. This study analyzes the policies which enabled them to transform their economies adn to catch up with the developed world. The strategies of the two nations adopted have been very different: Japan has maintained small farms and factories, developed a labor-intensive technology, and has successfully penetrated the world export markets. The USSR, on the other hand, has created giant farms and factories adn remained fairly isolated from world trade. Since 1945 teh USSR has devoted one-eighth of her resources to military purposes, Japan practically nothing. In Economic Growth in Japan and the USSR, Angus Maddison offers a comparative analysis of the growth experience of these two countries that greatly enlarges our knowledge of the development process. A better understanding of their past experience can be particularly illuminating and relevant for economic policy in developing countries today. This classic text was first published in 1969.

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.