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This volume presents an up-to-date study of the current state and future of Japanese economic growth, arguing that an information and communications technology revolution could revive Japanese economic growth.
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.
First Published in 2005. Routledge is an imprint of Taylor & Francis, an informa company.
A Stanford University Press classic.
This book discusses Japan’s long-term economic recession and provides remedies for that recession that are useful for other Asian economies. The book addresses why Japan’s economy has stagnated since the bursting of its economic bubble in the 1990s. Its empirical analysis challenges the beliefs of some economists, such as Paul Krugman, that the Japanese economy is caught in a liquidity trap. This book argues that Japan’s economic stagnation stems from a vertical “investment–saving” (IS) curve rather than a liquidity trap. The impact of fiscal policy has declined drastically, and the Japanese economy faces structural problems rather than a temporary downturn. These structural problems have many causes: an aging demographic (a problem that is frequently overlooked), an over-reliance by local governments on transfers from the central government, and Basel capital requirements that have made Japanese banks reluctant to lend money to start-up businesses and small and medium-sized enterprises. This latter issue has discouraged Japanese innovation and technological progress. All these issues are addressed empirically and theoretically, and several remedies for Japan’s long-lasting recession are provided. This volume will be of interest to researchers and policy makers not only in Japan but also the People’s Republic of China, many countries in the eurozone, and the United States, which may face similar challenges in the future.
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In this book, Aaron Forsberg presents an arresting account of Japan's postwar economic resurgence in a world polarized by the Cold War. His fresh interpretation highlights the many connections between Japan's economic revival and changes that occurred in the wider world during the 1950s. Drawing on a wealth of recently released American, British, and Japanese archival records, Forsberg demonstrates that American Cold War strategy and the U.S. commitment to liberal trade played a central role in promoting Japanese economic welfare and in forging the economic relationship between Japan and the United States. The price of economic opportunity and interdependence, however, was a strong undercurrent of mutual frustration, as patterns of conflict and compromise over trade, investment, and relations with China continued to characterize the postwar U.S.-Japanese relationship. Forsberg's emphasis on the dynamic interaction of Cold War strategy, the business environment, and Japanese development challenges "revisionist" interpretations of Japan's success. In exploring the complex origins of the U.S.-led international economy that has outlasted the Cold War, Forsberg refutes the claim that the U.S. government sacrificed American commercial interests in favor of its military partnership with Japan.
This book examines the causes of the Japanese deflationary economy, characterized as a structural deflation, and discusses how to alleviate the prolonged slowdown in order to restore Japan to a trajectory of high economic growth, with a special focus on the function of income distribution.
In this book Ryoshin Minami studies the last hundred years of Japan's remarkable economic growth from the Meiji period up to the present day. First, he reveals the factors which account for Japan's successful economic take-off during the Meiji period. Second, he explains why Japan achieved a more rapid rate of economic growth than other developed countries. This forms the major part of the book and will interest those in the developed countries who have felt the full force of Japan's export drive and whose own industries are consequently in decline. Finally, the author evaluates the results of Japan's economic growth and makes predictions for the future. The book makes a comprehensive survey of the Japanese experience in the pre- and post-war periods and points out lessons not only for developed countries but also for developing countries.
A Financial Times “Summer Books” Selection “Will become required reading.” —Times Literary Supplement “Elegantly written...with a confidence that comes from decades of deep research on the topic, illustrating how influence and power have waxed and waned between the two countries.” —Rana Mitter, Financial Times China and Japan have cultural and political connections that stretch back fifteen hundred years, but today their relationship is strained. China’s military buildup deeply worries Japan, while Japan’s brutal occupation of China in World War II remains an open wound. In recent years both countries have insisted that the other side must openly address the flashpoints of the past before relations can improve. Boldly tackling the most contentious chapters in this long and tangled relationship, Ezra Vogel uses the tools of a master historian to examine key turning points in Sino–Japanese history. Gracefully pivoting from past to present, he argues that for the sake of a stable world order, these two Asian giants must reset their relationship. “A sweeping, often fascinating, account...Impressively researched and smoothly written.” —Japan Times “Vogel uses the powerful lens of the past to frame contemporary Chinese–Japanese relations...[He] suggests that over the centuries—across both the imperial and the modern eras—friction has always dominated their relations.” —Sheila A. Smith, Foreign Affairs