ABSTRACT

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.

chapter |12 pages

Introduction

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part |2 pages

Part I Institutional change in theory and practice

chapter 2|26 pages

Institutional change in Meiji Japan: image and reality

ByJANET HUNTER
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chapter 3|24 pages

Institutional reform in Japan and Korea: why the difference?

ByCHUNG H . LEE
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part |2 pages

PART II Japanese institutions: what has changed, what has not, and why

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chapter 6|25 pages

Japanese lifetime employment: a century’s perspective

ByCHIAKI MORIGUCHI, HIROSHI ONO
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chapter 7|25 pages

The Japanese labor movement and institutional reform

ByLONNY E . CARLILE
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chapter 9|16 pages

Divorce in Japan: why it happens, why it doesn’t

ByHIROSHI ONO
Size: 0.11 MB