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. |
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第 1 到 5 筆結果,共 60 筆
... problem . " Structural reform is a race against time and Japan is clearly falling behind in that race , " the Economic Planning Agency warned in December of 1996. Many of Japan's once - vaunted economic practices , says the EPA , " are ...
... problems . Hence , when the government removed its fiscal prop by cutting back public works and then , in the spring of 1997 , hiking the consumption tax , the economy plunged once again . The economist who had so worried about the ...
... problems , deflation , structural rigidi- ties and difficulties in innovation have held back Japan's economic growth . In 1993 , the IMF forecast long term growth for Japan of 4 percent ; today , the figure is half that . 19 To be sure ...
... problems hindering growth : a supply - side prob- lem and a demand - side problem . The supply - side problem is low produc- tivity growth . This is caused by a system that protects the inefficient sectors at the expense of the ...
... problem . Once the bubble collapsed and investment fell , anorexia returned . De- spite budget deficits that hit 6 percent of GDP in 1997 and a rebounding trade surplus , Japan has found it very difficult to dig itself out of its ...
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 |