Abstract
Japan was the first non-Western country to accomplish successful industrialization, and the dominant perception of its 'industrial policy' had over-emphasized specific characteristics of Japan. However, from the perspective of today's development thinking, Japan's economic history shared a wide range of common factors in usual economic development: macroeconomic stability, human resource development, and economic infrastructure. Industrial policy in Japan sometimes worked well and sometimes did not, depending on how effectively it counteracted market failure and took advantage of market dynamism. We must note, however, that the external conditions faced by Japan were widely different from what today's developing countries face.
| Original language | English |
|---|---|
| Title of host publication | Development Success: Historical Accounts from More Advanced Countries |
| Publisher | Oxford University Press |
| ISBN (Print) | 9780191748943, 9780199660704 |
| DOIs | |
| Publication status | Published - 2013 Jan 24 |
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Keywords
- Economic infrastructure
- Industrial policy
- Industrialization
- Macroeconomic stability
- Trade liberalization
ASJC Scopus subject areas
- Economics, Econometrics and Finance(all)
Cite this
Japan's Model of Economic Development. / Kimura, Fukunari.
Development Success: Historical Accounts from More Advanced Countries. Oxford University Press, 2013.Research output: Chapter in Book/Report/Conference proceeding › Chapter
}
TY - CHAP
T1 - Japan's Model of Economic Development
AU - Kimura, Fukunari
PY - 2013/1/24
Y1 - 2013/1/24
N2 - Japan was the first non-Western country to accomplish successful industrialization, and the dominant perception of its 'industrial policy' had over-emphasized specific characteristics of Japan. However, from the perspective of today's development thinking, Japan's economic history shared a wide range of common factors in usual economic development: macroeconomic stability, human resource development, and economic infrastructure. Industrial policy in Japan sometimes worked well and sometimes did not, depending on how effectively it counteracted market failure and took advantage of market dynamism. We must note, however, that the external conditions faced by Japan were widely different from what today's developing countries face.
AB - Japan was the first non-Western country to accomplish successful industrialization, and the dominant perception of its 'industrial policy' had over-emphasized specific characteristics of Japan. However, from the perspective of today's development thinking, Japan's economic history shared a wide range of common factors in usual economic development: macroeconomic stability, human resource development, and economic infrastructure. Industrial policy in Japan sometimes worked well and sometimes did not, depending on how effectively it counteracted market failure and took advantage of market dynamism. We must note, however, that the external conditions faced by Japan were widely different from what today's developing countries face.
KW - Economic infrastructure
KW - Industrial policy
KW - Industrialization
KW - Macroeconomic stability
KW - Trade liberalization
UR - http://www.scopus.com/inward/record.url?scp=84919683099&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=84919683099&partnerID=8YFLogxK
U2 - 10.1093/acprof:oso/9780199660704.003.0007
DO - 10.1093/acprof:oso/9780199660704.003.0007
M3 - Chapter
AN - SCOPUS:84919683099
SN - 9780191748943
SN - 9780199660704
BT - Development Success: Historical Accounts from More Advanced Countries
PB - Oxford University Press
ER -