ABSTRACT
The concept of industrial policy is regarded in Japan as constructive and is well accepted as a meaningful tool for the promotion of the national economy. Japanese industrial policy thus entails two main aspects. First, Japanese industrial policy is not confined within the concept of industrial policy usually held in the industrialized countries, that is, public policies relating to industrial organization in each industry. Second, Japanese industrial policy was formed during the rapid economic expansion and industrial development of postwar Japan, and it is difficult to evaluate this policy without referring to its historical context. The general industrial measures are common to all Japanese industries and aim to promote Japanese industry as a whole. The basic nature of economic and industrial policy was to achieve independence and secure steady economic growth by bringing about an expansion of the domestic and export markets. The Japanese government favored the principle of maximizing economic growth through expanding industrial demand in the domestic market.
