Is Japan Really Changing Its Ways? Regulatory Reform and the Japanese Economy

Is Japan Really Changing Its Ways? Regulatory Reform and the Japanese Economy

Is Japan Really Changing Its Ways? Regulatory Reform and the Japanese Economy

Is Japan Really Changing Its Ways? Regulatory Reform and the Japanese Economy

Synopsis

"In this book, experts from the United States and Japan cut through the fog that surrounds Japanese regulatory reform. They review the characteristics of Japanese regulation and analyze the content of regulatory reforms proposed to date as well as the political dynamics that shaped them. The book also examines the nuts-and-bolts issues of reforms in major economic sectors and the implications of deregulation for access to Japanese markets for foreign imports. By focusing on both the larger political, economic, and strategic contexts and on the way in which the micro and macro aspects of regulatory reform are interconnected, this volume makes comprehensible the tidal wave of proposals and posturing coming out of Japan." Title Summary field provided by Blackwell North America, Inc. All Rights Reserved

Excerpt

The economic crisis in East Asia has given new urgency to the issue of Japanese regulatory reform. Can Japan dismantle its developmentalist regulations so as to open its markets meaningfully to imports and provide the market opportunities desperately needed by its Asian neighbors? Although plagued with slow growth for the last several years, the Japanese economy is still larger than all the other economies of Asia combined, and it could potentially play a major role in helping the region recover. But the weakened yen is currently increasing Japan's trade surpluses at a time when other nations are calling on Japan to help lead Asia out of its economic crisis by absorbing more of the region's exports.

In order to restart their own economy and provide regional economic stimulus by bringing in more imports, Japanese leaders must reform the financial system, expand domestic consumption, and do away with import-blocking regulations. Top Japanese business leaders have long complained that regulations not only block imports but also stifle efficiency and economic growth at home. Japanese citizens are increasingly frustrated with the inability of politicians to carry out the kind of serious economic reform needed to overcome Japan's long period of economic stagnation. Yet when the Japanese political system produces reforms, they are compromised in ways that limit their market-freeing impact.

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.