A Comparative Analysis Of Economic Liberalization In Japan And West Germany

This book presents comparative research into the economic and industrial systems of Japan and Germany after the Second World War. Both Japan and Germany became "miracles" of economic development in the postwar reconstruction period, although their political, industrial, and corporate systems are quite different, as are the processes of development. The particular differences reflect the economic, social, and environmental backgrounds of the two countries. The aim of this book is to evaluate accurately the economic development mechanism and to extract valuable lessons from a comparison of the economic development of Japan and that of Germany.

The book begins with an editors' introduction that provides a conceptual setting for a comparative study of the role of policy in the development of the postwar Japanese and West German economies. It then offers detailed comparative analyses of developments in the two countries on seven substantive topics: an overview of macroeconomic change; economic advisory and planning; monetary control; inflation control; labour markets and wage determination; agriculture and social security and welfare. It ends with an editor's summary and conclusion.

Faced with increased levels of international competition and mounting budget deficits some developed, Western economies have responded by introducing trade restrictions. This book uses a comparative analysis of eight leading industrial nations (including Japan, the United States, West Germany and Britain) to demonstrate that such policies are mistaken. Alternatives to trade restrictions, including subsidies for industries and labour-market policy instruments are also shown to have their drawbacks, and the book emphasises the need for countries to find and exploit policies which fulfil their own political and social needs but which are least injurious to their trading partners.

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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An edited book in the Critical Perspectives on Work and Employment series associated with the annual International Labour Process Conference. The book focuses on comparative work and employment relations research conducted within a broader political economy framework. Written by leading academics, it contains cutting-edge research.

"In The Origins of Nonliberal Capitalism, German sociologists and American and Japanese political scientists draw extensively on the work of economists and historians from their home countries, as well as from the United Kingdom and France. The contributors analyze the historical origins of nonliberal capitalism in Germany and Japan from two perspectives: the emergence and survival of a capitalism that does not assume liberal ideas and ideology; and the causes of difference between the systems of Germany and Japan. They also outline the requirements for internally coherent national models of an embedded capitalist economy."--BOOK JACKET.