Japan: The System That Soured: The Rise and Fall of the Japanese Economic MiracleM.E. Sharpe, 1998年7月10日 Ten years ago, Japan was predicted to dominate the world's economy. Today, it seems too feeble even to rescue itself from its economic malaise. How could the world's most acclaimed economic miracle have stumbled so badly? Why were most experts in the U.S. and Japan caught off-guard? And why do Japan's leaders still deny the gravity of the situation? As this book explains, the root of Japan's problem is that it's economy and politics are still mired in the patterns of the 1950s-1960s. Back then, Japan's practices were brilliantly suited to engineering an unparalleled industrial takeoff. But, once Japan became a mature economy in the 1970's, continuing in the same old mold became a recipe for disaster. The Japanese system enshrined cartels and protectionism. It created a dual economy of super-strong exporters but woefully inefficient domestic sectors. It slowly and insipidiously sapped productivity, drove Japan's most effecient companies to invest overseas, and created the financial imbalances that are wreaking havoc today. Unfortunately, Japan's vested interests and political machines are so dependent on existing practices that resistance to reform is powerful. And yet, warns author Richard Katz, without sweeping political-economic renovation that goes far beyond mere deregulation, Japan is doomed to years of economic stagnancy, financial turmoil, and political gridlock. The challenging thesis articulated in this book is receiving widespread media attention in the United States and Japan and is sure to provoke continuing debate and controversy. |
內容
| 3 | |
| 29 | |
Hollowing Out Driving Away the Geese That Lay the Golden Eggs | 47 |
From Growth Superstar to Economic Laggard | 55 |
The Politics of Japanese Economic Policy | 75 |
195573 The System Succeeds in the Era of CatchUp | 107 |
197390 The System Sours | 165 |
Economic Anorexia From Bubble to Bust | 197 |
Reading the Econometric Tables | 359 |
From Superstar to Laggard The Growth Model | 362 |
Trade and Growth | 372 |
Japans Peculiar Trade | 376 |
The Overloan System in Banking Artificial Scarcity | 382 |
Economic Anorexia in a Developmental Perspective | 384 |
How Japans Cartels Destroy Productivity | 386 |
The Dual Economy and Hollowing Out | 396 |
If Poland Can Reform Why Not Japan? | 239 |
Asia Versus Japan in the Race to Reform | 250 |
Japans Peculiar Trade Too Few Imports Too Few Exports | 258 |
Is Japan Opening Up? | 272 |
Beyond Revisionism and Traditionalism A New Paradigm to Guide Policy | 289 |
Interregnum Whither Japan? | 318 |
Why Industrial Policy Only Works in the CatchUp Era | 349 |
Controversy over ExportLed Industrialization | 358 |
The Macroeconomics of the USJapan Trade Imbalance | 397 |
Trade Capital Flows and the Gyrations of the Yen | 401 |
InvestmentDriven Growth Versus ProductivityDriven Growth | 405 |
Notes | 407 |
Bibliography | 435 |
Index | 449 |
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常見字詞
20 percent American Asia Asian auto Bank of Japan banks barriers budget deficit bureaucrats capital cartels catch-up cement Chalmers Johnson Chapter companies competition conditional convergence consumer consumption costs countries current account demand domestic dual economy economies of scale economists efficient factors faster Figure firms foreign free trade GDP per worker Germany grow Growth Rate high prices high-growth higher Ichiro Ozawa imports income increase industrial policy inefficient institutions investment rates Itoh Japan Japan's exports Japan's trade Japanese keiretsu koenkai Komiya labor loans machinery manufacturing million MITI MITI's Nippon Steel nomic oil shock output percent of GDP petrochemicals political problem productivity promoting protection protectionism ratio reform revisionists role savings sectors share shift Source steel structure Summers and Heston Table Tanaka tariff textiles Tilton Tokyo Total Factor Productivity trade surplus world prices
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第 3 頁 - But apart from this contemporary mood, the ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is commonly understood. Indeed the world is ruled by little else. Practical men, who believe themselves to be quite exempt from any intellectual influences, are usually the slaves of some defunct economist. Madmen in authority, who hear voices in the air, are distilling their frenzy from some academic scribbler of a few years back.
第 111 頁 - The only case in which, on mere principles of political economy, protecting duties can be defensible, is when they are imposed temporarily (especially in a young and rising nation) in hopes of naturalizing a foreign industry, in itself perfectly suitable to the circumstances of the country. The superiority of one country over another in a branch of production, often arises only from having begun it sooner. There may be no inherent advantage on one part, or disadvantage on the other, but only a present...
第 111 頁 - But the protection should be confined to cases in which there is good ground of assurance that the industry which it fosters will after a time be able to dispense with it; nor should the domestic producers ever be allowed to expect that it will be continued to them beyond the time necessary for a fair trial of what they are capable of accomplishing.
第 239 頁 - The cheap prices of its commodities are the heavy artillery with which it batters down all Chinese walls, with which it forces the barbarians' intensely obstinate hatred of foreigners to capitulate. It compels all nations on pain of extinction to adopt the bourgeois mode of production ; it compels them to introduce what it calls...
第 3 頁 - But, soon or late, it is ideas, not vested interests, which are dangerous for good or evil.
第 290 頁 - The industrial bureaus of MITI proliferate sectoral targets and plans; they confer, they tinker, they exhort. This is the "economics by admonition" to a degree inconceivable in Washington or London. Business makes few major decisions without consulting the appropriate governmental authority; the same is true in reverse.
第 9 頁 - An Asian economic bloc with Japan at its apex ... is clearly in the making. This all raises the possibility that the majority of American people who now feel that Japan is a greater threat to the US than the Soviet Union...
第 245 頁 - Nonetheless, the international opening of the economy is the sine qua non of the overall reform process. Trade liberalization not only establishes powerful direct linkages between the economy and the world system, but also effectively forces the government to take actions on the other parts of the reform program under the pressures of international competition.
第 22 頁 - Bhagwati lined up dozens of illustrious economists to condemn the allegedly "crude and simplistic view that Japan is importing too few manufactures owing to structural barriers."37 The Saxonhouse analysis was also embraced by political-military experts looking for a reason to downplay trade issues.
第 171 頁 - ... maintain wage equality. The recession cartels formed under the initiative of the Ministry of International Trade and Industry (MITI) to protect declining industries have reinforced inefficiency. In the name of egalitarianism, members of a recession cartel are obliged to cut production in proportion to their share of the market or their share of capacity. To help out the weakest, the bigger or stronger firms are sometimes pressured to take an extra-large cut. Under Japan's "convoy" system, the...