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The Three Stages Of Japan’s Economy - Online Term Paper

The Three Stages Of Japan’s Economy

Japan's Economy

The Japanese economic development is usually regarded as having three stages. The first of which began in the 1880's with the industrialization of textiles and expansive colonization campaign, the second in the 1930's with heavy importance on parts production and military development, and finally in the 1960's with the introduction of the information revolution and high technology industries. In this analysis we will explore the Japanese development starting in the inter-war years.

"The second largest economy in the world. For three decades the country's political economy produced extraordinary growth rates, the envy of the world. Many scholars pronounced the ...

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Reserved.

Richard Katz emphasizes that the protectionism and industrial policies that contributed to prosperity during catch-up from 1945 and onwards, no longer worked in the 1990s when Japan was a mature economy. Indeed Katz argues that these policies will increase the gap between Japan and the highly industrialized countries such as the United States and Germany during the early part of the 21st century. Katz's book does a careful job of linking Japan's astonishing postwar rise to its later depression, pinpointing the moment at which its economic model started to sour and explaining how those changes produced what he calls Japan's cramped dual economy. The author's argument about the state of Japan economy as related to its need to regulate its investment-led economy is remarkable. In a nutshell, this book is not just about how the Japan economic system soured, but furthermore concerning trade policies and productivity in any economy. Mr. Katz has been amazingly accurate ...

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industries needed a jump-start to get over the initial obstacles, as they had not yet acquired either the economies of scale. As each grew, the ripple effects accelerated the others. When Tokyo applied promotional policies in the catch-up era--from rigid import quotas, to huge subsidies, to authorization of export cartels, it nurtured an industrial takeoff, of which the world had never seen. The book stresses that, unfortunately, at the very point in Japan's evolution when the developmental policies should have been loosened, they were reinforced. As, developmental policies make impression for an economy still in the state of growth.

Nonetheless, Japan continued to use the same ...

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"The Three Stages Of Japan’s Economy." Essayworld.com. August 2, 2015. Accessed March 29, 2024. http://www.essayworld.com/essays/The-Three-Stages-Of-Japans-Economy/104854.
"The Three Stages Of Japan’s Economy." Essayworld.com. August 2, 2015. Accessed March 29, 2024. http://www.essayworld.com/essays/The-Three-Stages-Of-Japans-Economy/104854.
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PAPER DETAILS
Added: 8/2/2015 01:44:54 AM
Category: Economics
Type: Premium Paper
Words: 1824
Pages: 7

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