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oapen-20.500.12657-242192024-03-22T19:23:19Z Institutional Change in Japan Blomström, Magnus La Croix, Sumner japanese political economy lifetime employment non-performing loans system labor movement thema EDItEUR::G Reference, Information and Interdisciplinary subjects::GT Interdisciplinary studies::GTM Regional / International studies thema EDItEUR::N History and Archaeology::NH History::NHF Asian history thema EDItEUR::J Society and Social Sciences::JB Society and culture: general::JBS Social groups, communities and identities::JBSL Ethnic studies thema EDItEUR::K Economics, Finance, Business and Management::KC Economics This is a new analysis of recent changes in important Japanese institutions. It addresses the origin, development, and recent adaptation of core institutions, including financial institutions, corporate governance, lifetime employment, and the amakudari system. After four decades of rapid economic growth in Japan, the 1990s saw the country enter a prolonged period of economic stagnation. Policy reforms were initially half-hearted, and businesses were slow to restructure as the global economy changed. The lagging economy has been impervious to aggressive fiscal stimulus measures and has been plagued by ongoing price deflation for years. Japan’s struggle has called into question the ability of the country’s economic institutions, originally designed to support factor accumulation and rapid development, to adapt to the new economic environment of the twenty-first century. This book discusses both historical and international comparisons including Meiji Japan, and recent economic and financial reforms in Korea, Scandinavia, Switzerland, and New Zealand, placing the current institutional changes in perspective. The contributors argue that, contrary to conventional wisdom that Japanese institutions have remained relatively rigid, there has been significant institutional change over the last decade. 2019-11-21 14:33:55 2020-04-01T09:50:22Z 2020-04-01T09:50:22Z 2006 book 1005912 OCN: 1048456904 9780415380157;9780415511667;9780415655194;9781134180578;9781134180561;9781134180523 http://library.oapen.org/handle/20.500.12657/24219 eng European Institute of Japanese Studies East Asian Economics and Business Series application/pdf Attribution-NonCommercial-NoDerivatives 4.0 International 1005912.pdf https://www.taylorfrancis.com/books/e/9781134180578 Taylor & Francis 10.4324/9780203968819 10.4324/9780203968819 7b3c7b10-5b1e-40b3-860e-c6dd5197f0bb 9780415380157;9780415511667;9780415655194;9781134180578;9781134180561;9781134180523 open access
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This is a new analysis of recent changes in important Japanese institutions. It addresses the origin, development, and recent adaptation of core institutions, including financial institutions, corporate governance, lifetime employment, and the amakudari system. After four decades of rapid economic growth in Japan, the 1990s saw the country enter a prolonged period of economic stagnation. Policy reforms were initially half-hearted, and businesses were slow to restructure as the global economy changed. The lagging economy has been impervious to aggressive fiscal stimulus measures and has been plagued by ongoing price deflation for years. Japan’s struggle has called into question the ability of the country’s economic institutions, originally designed to support factor accumulation and rapid development, to adapt to the new economic environment of the twenty-first century. This book discusses both historical and international comparisons including Meiji Japan, and recent economic and financial reforms in Korea, Scandinavia, Switzerland, and New Zealand, placing the current institutional changes in perspective. The contributors argue that, contrary to conventional wisdom that Japanese institutions have remained relatively rigid, there has been significant institutional change over the last decade.
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