Institutional And Technological Change In Japan S Economy
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Institutional and Technological Change in Japan's Economy by Janet Hunter,Cornelia Storz Pdf
Institutional and technological change is a highly topical subject. At the theoretical level, there is much debate in the field of institutional economics about the role of technological change in endogenous growth theory. At a practical policy level, arguments rage about how Japan and the Japanese economy should plan for the future. In this book, leading economists and economic historians of Japan examine a range of key issues concerning institutional and technological change in Japan, rigorously using discipline-based tools of analysis, and drawing important conclusions as to how the process of change in these areas actually works. In applying these ideas to Japan, the writers in this volume are focusing on an issue which is currently being much debated in the country itself, and are helping our understanding of the world’s second-largest economy.
Institutional Change in Japan by Magnus Blomström,Sumner La Croix Pdf
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.
Japan's New Economy by Magnus Blomström,Byron Gangnes,Sumner La Croix Pdf
Japan's economy stumbled in the 1990s. After four decades of rapid growth that transformed Japan into a wealthy country at the world's technological frontier, the last decade brought prolonged economic stagnation. The rapid run-up in asset prices in the late 1980s, followed by their collapse in the early 1990s, left a debt overhang that paralyzed the banking sector. Policy reforms were initially half-hearted, and businesses were slow to restructure as the global economy changed. The lagging economy has seemed impervious to aggressive fiscal stimulus measures and is still plagued by ongoing price deflation. 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 21st century. Yet Japan's economy is already changing. Driven by an aging population, rapid technological change, and increasing global competition, the country's public and private institutions are being slowly reshaped. This volume explores the forces that will drive structural and institutional change in three areas over the next decade: the macroeconomy, the organization of industry, and the global economic and political environment. Economists, demographers, and Japan specialists examine key aspects of the economy that will be transformed in coming years, including population and savings, the public pension system, labor markets, financial reforms, deregulation of service industries, productivity performance, foreign investment, trade, and the impact of an emerging China. The volume fills an important gap in the existing economic literature. While much has been written about Japan's pre-1990s institutions and economic performance, this volume is unique in its forward-looking orientation - trying to understand not only the institutional and structural changes that have already reshaped Japan in the 1990s, but to identify the critical trends and institutional changes that will mould Japan's new economy over the next decade.
Managing Innovation in Japan by Chihiro Watanabe Pdf
This book summarizes highlights of the investigation of “An Elucidation of the Role of Institutional Systems in Characterizing Technology Development Trajectories – A Global Comparative Analysis of Manufacturing Technology and Information Te- nology in the Enhancement of Business Practice” supported by Grant-in-Aid for Scienti?c Research (S) by Japan’s Ministry of Education, Culture, Sports, Science and Technology/Japan Society for Science Policy over the period 2002–2006. Background and objectives of the investigation are summarized as follows: (a) Japan ranks far below the level of the USA with respect to the development and utilization of information technology (IT) in the information society that emerged in the 1990s. (b) This can be attributed toa vicious cycle between Japan’s non-elastic institutions, insuf?cient utilization of the potential bene?ts of IT, and economic stagnation. (c) The source of such a vicious cycle can be derived from the fundamental d- ferences of the characterizing process of technology between manufacturing technology (MT) and IT during their diffusion processes. This investigation - tempted to elucidate this mechanism. Noteworthy ?ndings obtained include: (a) MT has been developed largely by the supply side and its functionality is - tablished during the stage of its supply to the market. In contrast, IT is strongly driven by the demand side and its functionality is created through diffusion in a self-propagating way. This contrast can be clearly observed in the dramatic advancement of Japan’s mobile phone industry in the late 1990s.
Institutions, Industrial Upgrading, and Economic Performance in Japan by Terutomo Ozawa Pdf
. . . the book reviewed here will trigger a further interest in this area of research, and will invite more researchers to seek empirical evidence in the study of post-war industrial growth in Japan. Hiroshi Ohashi, Journal of the Japanese and International Economies This book provides a theoretically informed and empirically illustrative account of modern Japanese industrialization. Ozawa s translation of classical political economy to the Japanese context is both original and accessible and is a welcome addition to the literature on the Japanese variety of capitalism. Tim Reiffenstein, Pacific Affairs Ozawa succeeds in extending, building up, and joining the Akamatsu Kojima lineage of this unique Japan-born theory of economic development from a fresh, unconventional, and discerning perspective. From the foreword by Kiyoshi Kojima Terutomo Ozawa examines Japan s once celebrated post-war economic success from a new perspective. He applies a flying geese model of industrial upgrading in a country that is still catching-up, to explore the rise, fall and rebound of Japanese industry with its evolving institutions and policies. The book brings together and expands upon theories developed in the author's work over many years, using them as building blocks for his flying geese model. Concepts explored include: economics of hierarchical concatenation, increasing factor incongruity, comparative advantage (or market) recycling the Ricardo Hicksian trap of industrial production, Smithian growth elan, triumvirate pro-trade structural transformation knowledge creation versus knowledge diversion, the price-knowledge/industry-flow mechanism a la David Hume the syndrome of institutional incongruity, and socially justifiable moral hazard versus degenerative moral hazard. The dynamic process of industrial upgrading is analysed in detail, and important lessons for both developing and transition economies are highlighted. This fascinating book will attract a wide-ranging readership, encompassing practitioners and academics interested in international business, economic development, trade, and political science. In addition, sociologists focussing on business and industry, and researchers on, and policymakers in, developing and transition economies will also find this book of immense interest.
Japanese Political Economy Revisited by David Chiavacci,Sébastien Lechevalier Pdf
During the last 30 years, the Japanese political economy system has experienced significant changes that are usually not well understood or analysed because of their complexity and contradictions. This book provides new analyses and insights on the process of evolving Japanese political economy including Japan’s current economic policy known as Abenomics. The first three chapters looks at evolutions at the corporate level, characterised in recent years by increasing firm heterogeneity. The authors apply theoretically driven analyses to the complex subject of corporate governance, human resource management and corporate reporting by discussing new developments in context of their economic opportunities as well as of their institutional contradictions with continuities in Japanese business practices. The second group of chapters deals with institutional changes and evolving economic reforms on the macro level of political economy. The two chapters focus on the financial system regulation and economic growth policies as two central elements of Japan’s political economy and key drivers in the evolution of its economy. Their analysis allows us to better understand the interplay between reforms and change in consumption credit and to reinterpret Abenomics as a manifestation of ongoing contradictions within the Japanese political economy. The chapters were originally published in a special issue in Japan Forum.
How did Japanese companies, technology-supporting organizations, and governments reformulate organizational strategies, industrial structures, and institutions to revive Japanese high-tech industries (semiconductor, telecommunications, and biotechnology) in the 1990s? This book takes a comprehensive look at the question by integrating the fields of institutional economics and corporate strategy, an approach that will be of significant interest theoretically and empirically to scholars, professionals, and graduate students. Complex interactions among diverse technology-related actors are presented, focusing on co-evolution among market changes induced by technology innovation, macro-level institutional arrangements for innovation, and corporate strategies for survival. Insights are provided on diverse types of institutional arrangements, technology innovation policies, and management practices for companies and technology organizations.
Technology and Industrial Development in Japan by Hiroyuki Odagiri,Akira Gotō Pdf
This book studies the industrial development of Japan since the mid-nineteenth century, with particular emphasis on how the various industries built technological capabilities. The Japanese were extraordinarily creative in searching out and learning to use modern technologies, and the authors investigate the emergence of entrepreneurs who began new and risky businesses, how the business organizations evolved to cope with changing technological conditions, and how the managers, engineers, and workers acquired organizational and technological skills through technology importation, learning-by-doing, and their own R & D activities. The book investigates the interaction between private entrepreneurial activities and public policy, through a general examination of economic and industrial development, a study of the evolution of management systems, and six industrial case studies: textile, iron and steel, electrical and communications equipment, automobiles, shipbuilding and aircraft, and pharmaceuticals. The authors show how the Japanese government has played an important supportive role in the continuing innovation, without being a substitute for aggressive business enterprise constantly venturing into unfamiliar terrains.
Japan’s Industrial Technology Development by Yoshitaka Okada Pdf
Japan's technology support system has played a crucial role in developing firms technological capability and stimulating their innovation. How has it been done, and why is it effective? The research findings presented here show that what has worked best in Japan is inter-firm cooperative learning, which requires the support of public technology institutions to promote cooperation, disseminate technology, and facilitate innovation. Among the many books published about Japanese technology policies and corporate management, this is the first to show definitively that cooperative learning is important in a wide spectrum of firms, whether or not they are keiretsu-affiliated. With a caveat on the limitations of the Japanese system from an institutional perspective, the countrys techno-governance structure is revealed to be more effective in assembly-oriented industries than in those that are basic-science oriented and employ rapidly changing technology.
Monograph on the economic system of Japan - describes the economic geography and human geography, political system and society, government, educational system, business organizations and decision making, employment and labour relations, industrial policy and structure, financing, banking and monetary policy, fiscal policy, etc. Diagrams, references and statistical tables.
Japan's Growing Technological Capability by Committee on Japan,Office of International Affairs Pdf
The perspectives of technologists, economists, and policymakers are brought together in this volume. It includes chapters dealing with approaches to assessment of technology leadership in the United States and Japan, an evaluation of future impacts of eroding U.S. technological preeminence, an analysis of the changing nature of technology-based global competition, and a discussion of policy options for the United States.
Japanese Economic Development by Penelope Francks Pdf
This study traces Japan's economic development since the mid-19th century in the light of the issues and problems which face the nations of the Third World today. It charts the roots of Japan's economic growth, examining the policies and institutions throu
Institutional Diversity and Innovation by Cornelia Storz,Sebastian Schäfer Pdf
The concept of "innovation systems" has gained considerable attention from scholars and politicians alike. The concept promises not only to serve as a tool to explain sustained economic development, but also to provide policy-makers with scientifically grounded policy options to advance the growth of economies. The thrust of much recent literature has been to review existing empirical findings in order to deduce "best practice" models which are assumed to benefit all countries in a similar fashion. However, as this book argues, such ‘universal’ models often fail in both analysis and policy prescriptions, as they do not take into account sufficiently the circumstances and development trajectories of particular countries. With a foreword by Richard Whitley, this book discusses the extent to which the diagnoses and reform recommendations of recent work on innovation theory, and the related policy recommendations, actually apply to Japan and China. Making links between behavioural economics and institutional analysis, the book covers their regulatory framework, legal and science system, the labour and capital market, and intra-firm relations. It examines the present design and reasons underlying the Japanese and Chinese innovation systems, and based on those findings, emphasises the necessity for reform to secure the future competitiveness of both countries. The book is introduced by a foreword by Richard Whitley, Professor of Organisational Sociology at Manchester Business School.
Technological Change and the Environment by Arnulf Grübler Pdf
Much is written in the popular literature about the current pace of technological change. But do we have enough scientific knowledge about the sources and management of innovation to properly inform policymaking in technology dependent domains such as energy and the environment? While it is agreed that technological change does not 'fall from heaven like autumn leaves,' the theory, data, and models are deficient. The specific mechanisms that govern the rate and direction of inventive activity, the drivers and scope for incremental improvements that occur during technology diffusion, and the spillover effects that cross-fertilize technological innovations remain poorly understood. In a work that will interest serious readers of history, policy, and economics, the editors and their distinguished contributors offer a unique, single volume overview of the theoretical and empirical work on technological change. Beginning with a survey of existing research, they provide analysis and case studies in contexts such as medicine, agriculture, and power generation, paying particular attention to what technological change means for efficiency, productivity, and reduced environmental impacts. The book includes a historical analysis of technological change, an examination of the overall direction of technological change, and general theories about the sources of change. The contributors empirically test hypotheses of induced innovation and theories of institutional innovation. They propose ways to model induced technological change and evaluate its impact, and they consider issues such as uncertainty in technology returns, technology crossover effects, and clustering. A copublication o Resources for the Future (RFF) and the International Institute for Applied Systems Analysis (IIASA).
