Japan's Model of Economic Development

Research output: Chapter in Book/Report/Conference proceedingChapter

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 languageEnglish
Title of host publicationDevelopment Success: Historical Accounts from More Advanced Countries
PublisherOxford University Press
ISBN (Print)9780191748943, 9780199660704
DOIs
Publication statusPublished - 2013 Jan 24

Fingerprint

Economic development
Japan
Industrial policy
Macroeconomic stability
Common factors
Developing countries
Economic history
Industrialization
Economics
Dynamism
Human resource development
Market failure

Keywords

  • Economic infrastructure
  • Industrial policy
  • Industrialization
  • Macroeconomic stability
  • Trade liberalization

ASJC Scopus subject areas

  • Economics, Econometrics and Finance(all)

Cite this

Kimura, F. (2013). Japan's Model of Economic Development. In Development Success: Historical Accounts from More Advanced Countries Oxford University Press. https://doi.org/10.1093/acprof:oso/9780199660704.003.0007

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 proceedingChapter

Kimura, F 2013, Japan's Model of Economic Development. in Development Success: Historical Accounts from More Advanced Countries. Oxford University Press. https://doi.org/10.1093/acprof:oso/9780199660704.003.0007
Kimura F. Japan's Model of Economic Development. In Development Success: Historical Accounts from More Advanced Countries. Oxford University Press. 2013 https://doi.org/10.1093/acprof:oso/9780199660704.003.0007
Kimura, Fukunari. / Japan's Model of Economic Development. Development Success: Historical Accounts from More Advanced Countries. Oxford University Press, 2013.
@inbook{244eb8ad9d974a3cae9f87085decb23f,
title = "Japan's Model of Economic Development",
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.",
keywords = "Economic infrastructure, Industrial policy, Industrialization, Macroeconomic stability, Trade liberalization",
author = "Fukunari Kimura",
year = "2013",
month = "1",
day = "24",
doi = "10.1093/acprof:oso/9780199660704.003.0007",
language = "English",
isbn = "9780191748943",
booktitle = "Development Success: Historical Accounts from More Advanced Countries",
publisher = "Oxford University Press",

}

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 -