The SAGE Handbook of Modern Japanese Studies includes outstanding contributions from a diverse group of leading academics from across the globe. This volume is designed to serve as a major interdisciplinary reference work and a seminal text, both rigorous and accessible, to assist students and scholars in understanding one of the major nations of the world.

The Japanese Economy

The Japanese Economy
Marcus Rebick

Introduction

Japan's economy, during its rapid growth from the 1950s to the 1980s was regarded as a model for the world, and during the 1980s much credit was given to its economic and political institutions (Vogel, 1979; Johnson, 1982; Aoki, 1988; Womack et al., 1991). On the other hand, during the 1990s, a period of much slower growth and stagnation, Japan's institutions were criticised by many (e.g. Porter and Takeuchi, 1999; Blomström et al., 2003). Today, with other countries in East Asia having different institutions showing similar capacities for rapid growth, we have a more balanced view and, without denying some unique cultural aspects, Japan's economic institutions do not appear to be that exceptional from the perspective of a European economist. Students of the ‘varieties of capitalism’ approach, for example, ...

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