| Titre : |
In the shadow of the miracle : The japanese economy since the end of high-speed growth |
| Type de document : |
texte imprimé |
| Auteurs : |
Arthur J. Alexander, Auteur |
| Editeur : |
Boston [USA] : Lexington Books |
| Année de publication : |
2002 |
| Importance : |
346 p. |
| ISBN/ISSN/EAN : |
978-0-7391-0127-8 |
| Langues : |
Anglais (eng) |
| Catégories : |
SCIENCES SOCIALES
|
| Mots-clés : |
JAPON TRANSITION ECONOMIQUE INVESTISSEMENT PRODUCTIVITE ECONOMIQUE RECHERCHE FLUIDITE DE CAPITAL YEN |
| Résumé : |
Japan is living in the shadow of its economic miracle and its stagnation and decline relative to other advanced economies since the early 1990s is a consequence of business and government difficulty in breaking away from once-successful practices.
The japanese economic miracle following World WarII created the world's second largest capitalist economy. Double-digit growth over several decades also made the japanese people among the richest in the world. This remarkable performance, following military defeat, physical destruction and rampant hunger in 1945, gave Japan a new definition of itself. Such indeniable success in the face of of such enormous obstacles helped to solidify and even sanctify the institutions, methods, habits rules of thumb and political arrangements that were associated with the economic miracle.
Even more, several of the customary practices that had become synonymous with Japan-lifetime employment, long-term business relations, subsidies and protection for disadvantaged industries and groups, political protection for favored clients-conformed to underlying japanese values. Not only did the system work, it was comfortable and comforting to most japanese people.
However, many of the practices and institutions of the miracle era had negative side effects, even during the period of high-speed growth. Their persistence and embedded quality are inappropriate and downright dangerous for an inevitably maturing and slower growing economy. While seeming to soften the transition to a more dynamic future, the habits and institutions of the miracle era drag out the process, spread the discomfort and intensify the pain.
The changes necessary to break out of stagnation strike at many of the foundations of the post-1945 system. Delays in addressing the problems of too much capital, too many employees, bankrupt corporate borrowers, a fragile banking system and an unresponsive political process have multplied and intensified the problems that were becoming aparent as early as the 1970s.
The list of well-known problems facing Japan, however, is only one side of the miracle's shadow. In order to develop and get rich, Japan had to have institutions that worked, these institutions continue to give strength to the nation. The country is a market-oriented, capitalist democracy. It responds to shifting pressures even if only slowly.
The positive side of life in the shadow of the miracle is that Japan's economic future ranges from mediocre to good. One percent per capita growth would be comparative failure; 2 percent would be a considerable achivement. Nevertheless, despite the auspicious examples of other rich nations that have managed to dig themselves out of economic stagnation, success is not guaranteed. The japanese people, their bosses and their politicians have to make appropriate and tough choices. The nations's demonstrated ability to overcome obstacles suggests a bright future. |
| Numéro du document : |
A 9638/ ECO 981 |
| Niveau Bibliographique : |
1 |
| Bull1 (Theme principale) : |
ECONOMIE |
| Bull2 (Theme secondaire) : |
ECONOMIE NATIONALE |
In the shadow of the miracle : The japanese economy since the end of high-speed growth [texte imprimé] / Arthur J. Alexander, Auteur . - Boston [USA] : Lexington Books, 2002 . - 346 p. ISBN : 978-0-7391-0127-8 Langues : Anglais ( eng)
| Catégories : |
SCIENCES SOCIALES
|
| Mots-clés : |
JAPON TRANSITION ECONOMIQUE INVESTISSEMENT PRODUCTIVITE ECONOMIQUE RECHERCHE FLUIDITE DE CAPITAL YEN |
| Résumé : |
Japan is living in the shadow of its economic miracle and its stagnation and decline relative to other advanced economies since the early 1990s is a consequence of business and government difficulty in breaking away from once-successful practices.
The japanese economic miracle following World WarII created the world's second largest capitalist economy. Double-digit growth over several decades also made the japanese people among the richest in the world. This remarkable performance, following military defeat, physical destruction and rampant hunger in 1945, gave Japan a new definition of itself. Such indeniable success in the face of of such enormous obstacles helped to solidify and even sanctify the institutions, methods, habits rules of thumb and political arrangements that were associated with the economic miracle.
Even more, several of the customary practices that had become synonymous with Japan-lifetime employment, long-term business relations, subsidies and protection for disadvantaged industries and groups, political protection for favored clients-conformed to underlying japanese values. Not only did the system work, it was comfortable and comforting to most japanese people.
However, many of the practices and institutions of the miracle era had negative side effects, even during the period of high-speed growth. Their persistence and embedded quality are inappropriate and downright dangerous for an inevitably maturing and slower growing economy. While seeming to soften the transition to a more dynamic future, the habits and institutions of the miracle era drag out the process, spread the discomfort and intensify the pain.
The changes necessary to break out of stagnation strike at many of the foundations of the post-1945 system. Delays in addressing the problems of too much capital, too many employees, bankrupt corporate borrowers, a fragile banking system and an unresponsive political process have multplied and intensified the problems that were becoming aparent as early as the 1970s.
The list of well-known problems facing Japan, however, is only one side of the miracle's shadow. In order to develop and get rich, Japan had to have institutions that worked, these institutions continue to give strength to the nation. The country is a market-oriented, capitalist democracy. It responds to shifting pressures even if only slowly.
The positive side of life in the shadow of the miracle is that Japan's economic future ranges from mediocre to good. One percent per capita growth would be comparative failure; 2 percent would be a considerable achivement. Nevertheless, despite the auspicious examples of other rich nations that have managed to dig themselves out of economic stagnation, success is not guaranteed. The japanese people, their bosses and their politicians have to make appropriate and tough choices. The nations's demonstrated ability to overcome obstacles suggests a bright future. |
| Numéro du document : |
A 9638/ ECO 981 |
| Niveau Bibliographique : |
1 |
| Bull1 (Theme principale) : |
ECONOMIE |
| Bull2 (Theme secondaire) : |
ECONOMIE NATIONALE |
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