Cover image for The Japanese economy
The Japanese economy
Flath, David.
Personal Author:
Publication Information:
Oxford ; New York : Oxford University Press, 2000.
Physical Description:
xv, 368 pages : illustrations ; 26 cm

Format :


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Home Location
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HC462.95 .F63 2000 Adult Non-Fiction Central Closed Stacks

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Despite recent upheavals, Japan remains one of the dominant economic powers at the end of the twentieth century. Yet the Japanese economy is one of the most misunderstood phenomena in the modern world. Conventionally, Japan is presented as the exception to mainstream economic theory: anexception to the standard models of modern economics. This book demolishes that notion, bringing the full analytical power of economic thought to all aspects of the most dramatic economic success story in recent times. David Flath concentrates on four main themes: Japan's economic growth and development Japan's integration with the world economy Government policies and their effects Economic institutions and practices By applying common economic tools such as the Solow growth model, Modigliani's life-cycle model of saving, Becker's theory of investment, Samuelson's theory of revealed preference, Coase's exposition of the problem of social cost, and the modern theory of industrial organization, this book shows themainstream principles of economics apply in Japan as successfully as they do elsewhere. Aimed at 3rd/4th year undergraduate and graduate courses on Japan, this book will be indispensable both for students and instructors alike. Lucid explanations and comprehensive and rigorous analysis make it a natural choice for any interested in comprehending the rise of the Japanese economy.

Author Notes

David Flath is Professor of Economics at North Carolina State University and a Research Associate at the Center for Japanese Economy and Business, Columbia University Graduate School of Business. He has previously been Professor of Economics at Osaka University.

Reviews 1

Choice Review

This comprehensive study of Japan's economy has vast significance because of the country's miraculous postwar dynamism and stubborn current recession. Flath (North Carolina State Univ.) skillfully uses the powerful engine of neoclassical economic theory to dissect and integrate the unique and colorful panorama of the Japanese economy, focusing on four major themes: (1) Japan's economic growth and development, (2) Japan's integration with the world economy, (3) government policies and their effect, and (4) economic institutions and practices peculiar to Japan. He contends that, rather than trade, the country's rapid adaptation of Western knowledge and technology initiated and expedited Japan's sustained march to industrialization. Flath acknowledges the Japanese government's important role in economic activity (beginning agricultural experiment stations, a modern rail system, telegraph network, postal system, police forces, and schools and universities), creating an infrastructure essential for economic development. The author uses empirical evidence in attributing the persistently inept monetary policy by the Bank of Japan as the prime reason for the sustained recession of the 1990s. Also, very ably with evidence, he dispels the hardened myth that Japan as an imitator has been a technological parasite on the West, noting Japan's major technological innovations and achievements. An exemplary book on an important country. Upper-division undergraduate and up. C. J. Talele; Columbia State Community College

Table of Contents

n 1 Incomes and Welfare of the Japanese Today
n 2 Economic History Part 1, The Tokugawa Period, 1603-1868, and the Meiji Era, 1868-1912
n 3 Economic History Part 2, The Twentieth Century, 1912-1945
n 4 Economic History Part 3, Postwar Recovery, 1945-1964
n 5 Saving
n 6 Macroeconomics
n 7 International Finance
n 8 International Trade
n 9 Industrial Policy
n 10 Public Finance
n 11 Environmental Strategy
n 12 Industrial Organization
n 13 Finance
n 14 Marketing
n 15 Labor
n 16 Technology