Miraculous or mired? Contrasting Japanese and American perspectives on Japan's current economic problems
Reich, Simon (1998) Miraculous or mired? Contrasting Japanese and American perspectives on Japan's current economic problems. Working Paper. Coventry: University of Warwick. Centre for the Study of Globalisation and Regionalisation. Working papers (University of Warwick. Centre for the Study of Globalisation and Regionalisation) (No.21/).
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The current banking crisis in Japan illustrates two major points. The first is the renewed emphasis on the importance of market-based solutions to policy problems by American policy makers. The second is the broader point, that differences in the structures and operation of capitalism persist in the two countries despite the purported homogenising influences of globalisation. These two points are both analyzed in this paper through a systematic examination of the varied and contrasting positions in both Japan and the United States among policy makers and commentators regarding what kind of policies Japan should institute and the prospective success of such proposals. The paper offers a pessimistic conclusion that the most appropriate policy prescription requires bilateral policy coordination, a option that the United States has so far rejected and seems unlikely to initiate at this point.
|Item Type:||Working or Discussion Paper (Working Paper)|
|Subjects:||H Social Sciences > HG Finance
D History General and Old World > DS Asia
|Divisions:||Faculty of Social Sciences > Centre for the Study of Globalisation and Regionalisation|
|Library of Congress Subject Headings (LCSH):||Finacial crises -- Japan, Banks and banking -- Japan, Capitalism -- Japan, Capitalism -- United States, Globalization -- Economic aspects, Japan -- Economic policy, Japan -- Economic conditions|
|Series Name:||Working papers (University of Warwick. Centre for the Study of Globalisation and Regionalisation)|
|Publisher:||University of Warwick. Centre for the Study of Globalisation and Regionalisation|
|Place of Publication:||Coventry|
|Official Date:||December 1998|
|Number of Pages:||63|
|Status:||Not Peer Reviewed|
|Access rights to Published version:||Open Access|
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