After decades of seemingly unsurpassable growth and prosperity, Japan's economy declined in the 1990s. The reversal stunned observers: How could the economy have reversed itself so abruptly? Bai Gao's illuminating analysis of Japan's economic story demonstrates how the same economic institutions could produce both remarkable successes and a prolonged slump. In Japan's Economic Dilemma, Gao describes tensions within the Japanese economic system that created a bubble in the 1980s, yet became unsustainable and led to a stagnant domestic economy in the 1990s. Those who have been following the lively debate over "What became of the Japanese Miracle?" will appreciate Gao's historical perspective and multilayered analysis. Bai Gao is an associate professor in the department of sociology at Duke University in Durham, North Carolina. He was a visiting scholar at Tokyo University and taught at Hitotsubashi University and Yokohama National University. He is the author of Economic Ideology and Japanese Industrial Policy (Cambridge, 1997), which received the 1998 Hiromi Arisawa Memorial Award in Best Books in Japanese Studies from the Association of American University Presses.
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"Offers valuable insights..." American Journal of Sociology
"The reader of this book will profit from the author's vast knowledge and his in-depth analysis of the Japanese economy. He also makes good use of the Japanese literature. The explanations given are valuable for students of economic growth in Asia and the world alike.... this is an excellent book that deserves attention from economists, sociologists and social policy experts.... Its account of the structural and institutional explanations for economic growth and stagnation are highly relevant to the world situation today." Journal of Sociology and Social Welfare
"Japan's Economic Dilemma makes a significant contribution to the comparative literature on Japanese political economy. Whether one agrees with its arguments and assessments or not, its theoretically innovative and historically grounded study of the private sector institutions that manage corporate governance and social stability adds an important, and often neglected, dimension to our understanding of the challenges that confront the Japanese economy." American Political Science Review
"The reader of this book will profit from the author's vast knowledge and his in-depth analysis of the Japanese economy. He also makes good use of the Japanese literature. The explanations given are valuable for students of economic growth in Asia and the world alike.... this is an excellent book that deserves attention from economists, sociologists and social policy experts.... Its account of the structural and institutional explanations for economic growth and stagnation are highly relevant to the world situation today." Journal of Sociology and Social Welfare
"Japan's Economic Dilemma makes a significant contribution to the comparative literature on Japanese political economy. Whether one agrees with its arguments and assessments or not, its theoretically innovative and historically grounded study of the private sector institutions that manage corporate governance and social stability adds an important, and often neglected, dimension to our understanding of the challenges that confront the Japanese economy." American Political Science Review
Book Description
The Japanese economy, after decades of seemingly unsurpassable competitiveness, experienced a major crisis in the 1990s. Observers of Japan are faced with a challenging question: How can one explain Japan's seemingly abrupt reversal from stunning prosperity to dismal stagnation? Bai Gao's illuminating analysis of Japan's economic story goes beyond other analyses to demonstrate how the same economic institutions could produce both stunning economic success and the slump of the 1990s. Those who have been following the lively debate over 'What Became of the Japanese Miracle?' will be rewarded by Gao's richly detailed, historically informed, and multilayered contribution.
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Inside This Book
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First Sentence:
After demonstrating seemingly unsurpassable competitiveness for several decades, the Japanese economy experienced a major reversion from prosperity to stagnation in the 1990s. Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
total employment strategy, asymmetric cooperation, convoy administration, mandatory cartels, instructed cartels, black cartels, total capital supply, keiretsu financing, reciprocal shareholding, two structural shifts, deflationary fiscal policy, strong growth orientation, unemployment assistance program, foreign currency quotas, permanent employment system, nihon keizai shisutemu, major city banks, antimonopoly law, intrinsic dilemma, main bank system, mini shops, high growth period, reallocation plan, monetary activity, postwar international economic order Key Phrases - Capitalized Phrases (CAPs): (learn more)
United States, Bank of Japan, Bretton Woods, First Oil Shock, World War, Ministry of Finance, Plaza Accord, Great Depression, West Germany, Cold War, Mitsubishi Bank, Nixon Shock, Torihiki Iinkai, Mitsubishi Trading Company, New York, Economic Planning Agency, Mitsubishi Heavy Industry, South Korea, Southeast Asian, Tanaka Kakuei, World Bank, Miyazaki Yoshikazu, Prime Minister Nakasone, Richard Katz, Upper House New!
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Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
After demonstrating seemingly unsurpassable competitiveness for several decades, the Japanese economy experienced a major reversion from prosperity to stagnation in the 1990s. Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
total employment strategy, asymmetric cooperation, convoy administration, mandatory cartels, instructed cartels, black cartels, total capital supply, keiretsu financing, reciprocal shareholding, two structural shifts, deflationary fiscal policy, strong growth orientation, unemployment assistance program, foreign currency quotas, permanent employment system, nihon keizai shisutemu, major city banks, antimonopoly law, intrinsic dilemma, main bank system, mini shops, high growth period, reallocation plan, monetary activity, postwar international economic order Key Phrases - Capitalized Phrases (CAPs): (learn more)
United States, Bank of Japan, Bretton Woods, First Oil Shock, World War, Ministry of Finance, Plaza Accord, Great Depression, West Germany, Cold War, Mitsubishi Bank, Nixon Shock, Torihiki Iinkai, Mitsubishi Trading Company, New York, Economic Planning Agency, Mitsubishi Heavy Industry, South Korea, Southeast Asian, Tanaka Kakuei, World Bank, Miyazaki Yoshikazu, Prime Minister Nakasone, Richard Katz, Upper House New!
Books on Related Topics | Concordance | Text Stats Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
Citations (learn more)
This book cites 57
books:
See all 57 books this book cites
2
books
cite this book:
- Capital Ungoverned: Liberalizing Finance in Interventionist States by Meredith Woo-Cumings in Front Matter, Back Matter (1), and Back Matter (2)
- Continuity and Change in Contemporary Capitalism (Cambridge Studies in Comparative Politics) by Herbert Kitschelt in Back Matter (1), and Back Matter (2)
- The Great Transformation: The Political and Economic Origins of Our Time by Karl Polanyi on page 9, and Back Matter
- National Diversity and Global Capitalism (Cornell Studies in Political Economy) by Suzanne Berger in Back Matter (1), and Back Matter (2)
- Internationalization and Domestic Politics (Cambridge Studies in Comparative Politics) by Robert O. Keohane in Back Matter (1), and Back Matter (2)
See all 57 books this book cites
- The Twenty-First-Century Firm: Changing Economic Organization in International Perspective by Paul DiMaggio in Back Matter
- Global Markets, Domestic Institutions: Corporate Law and Governance in a New Era of Cross-Border Deals by Professor Curtis J. Milhaupt on page 364
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