Originally published in 1986, after a period of global changes and financial crisis in the majority of industrialised countries, this book explores how Japan’s economy seemed to maintain its success. This study provides an overview of the Japanese case and the main schools of thought that arose from it by dealing with export-related issues such as reforms in foreign exchange and trade control laws and the internationalisation of Japan’s financial markets as well as more domestic issues such as employment and wages. This title will be of interest to students of Asian Studies and Economics.
Table of Contents
Introduction; 1. The Reform of Japan’s Foreign Exchange and Foreign Trade Control Law: A Case of Qualitative Economic Policy 2. Japan’s Exchange Rate Policy: Policy Targets, Nonpolicy Variables, and Discretionary Adjustment 3. The Foreign Exchange Market in Japan 4. The Internationalization of Japan’s Financial Markets 5. Japanese Foreign Direct Investment 6. Japanese Foreign Direct Investment in Western Europe 7. The External Safeguard of Domestic Monetary and Fiscal Policies 8. The Position of Banks and Securities Companies in the Japanese Financial Market and Its Effect on International Capital Flows 9. Infrastructural Deficiencies, Budget Policy, and Capital Flows 10. Externalization of Domestic Macroeconomic Performance: Export-Led Growth or Growth-Led Export? 11. Employment, Wages, and Export Competitiveness 12. Industrial Policy in Japan: Interactions between Policies and Dualist Structure 13. The Distribution Systems: Its Social Function and Import Impeding Effects 14. Legal and Institutional Dynamics in Japan’s Cartel Policy; Conclusion; Notes on the Contributors