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During the high -growth period of postwar Japan, the Ministry of International Trade and Industry (MITI) had been committed to industrial policy. The indus trial policy was defined at Kom iya (1975) as follows: “The industrial policy is pointed as government policies that af fect resource allocation
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In the late 1950s, Japan’s gross domestic product (GDP) grew at an average rate of 9.1% a year; in the 1960s, the real heyday of what is now known as Japan’s high-growth era, the figure was over 10%. In the short span of three decades after the end of World War II, Japan went from being an economic basket-case in the eyes of the world, its ...
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Does industrial policy contribute to Japan's high-growth postwar period?
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What influenced Japan's Industrial Policy after World War II?
We can clearly identify three phases in the postwar growth path of the Japanese economy. First, in the period of economic recovery and high growth (1945-1973), the average annual growth rate was 7.6%. It is notable that, during the recovery process, the growth rate was almost as high as that in the so-called "high-growth period" after 1955.
also opinions that value its role positively in postwar Japan’s economic recovery, which led to high economic growth and industrial structure upgrading. This chapter will first classify Japanese industrial policy based on the actual conditions of various industrial policies implemented in postwar Japan.
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- Transformation from Monopoly Capitalism to Horizontal Groupings of Industries
- The Failures and Plummeting of Japan’s Postwar Growth Strategy
In the aftermath of World War II, the Japanese government felt a strong need for rebuilding the country from the ashes of war-torn economy. The country’s growth strategy has been characterized by two distinctive features. The government dispensed a substantial volume of funds to prepare industrial infrastructures for leading manufactures; at the sa...
Japan became the first Asian country to host the Olympic Games in 1964. In accommodating the games, the Japanese government initiated different projects to remake Tokyo one of the major metropolises in the world. Take speedways, for instance. Unlike USA or Germany, the country did not own a single line of freeway until 1964. In the same year, the f...
Under the Japanese business climate, whenever a private firm secures funds from financial institutions, two different features will set in. Both often indicate sustenance of the prewar legacy of the country’s economic structure. Prior to WWII, the Japanese economy had been monopolized by a group of holding companies owned by a limited number of fam...
The Japanese enjoyed a brief period of unprecedented economic growth. For the 5 year period from 1986 to 1991, the country experienced a bubble economy with spiraling land prices and extensive consumer spending. One of the compelling reasons for this unfamiliar expansion lied in various industries to have gained substantial sales and profits overse...
- Akira Nakamura
- nakamura@meiji.ac.jp
The Postwar Record and the Case of Supercomputers. Japan is the world’s most successful practitioner of industrial policy. Japan’s industrial policies are largely, though not solely, responsible forits eco- nomic recovery from World War II and its increasing preeminence in high-technology industries.
trial policy and briefly surveys recent theoretical contribution on industrial policy. In section 9.3, a very brief historical account of Japanese industrial policy is presented. Sections 9.4 and 9.5 describe major contemporary indus- trial policies in Japan: R&D assistance and dealings with trade conflicts. In
