The Japanese economy is beginning to show signs of recovery after years of stagnation/deflation, but many Japanese policymakers warn that this economic growth may be sluggish: slower than in the United States and certainly slower than in other East Asian countries. Japan faces significant economic problems, including an aging population, a large fiscal deficit, and the need to adjust to the IT economy and to competition with the rest of East Asia. A slow growth scenario would greatly reduce opportunities for new productive investment and would make it increasingly difficult to provide for Japan's growing social needs. The authors of this book argue that Japan can and should grow more rapidly, and examine the reasons for the sluggish performance of the Japanese economy. For example, some Japanese economic sectors, particularly in distribution and finance, have failed to take advantage of new information and communications technology to accelerate the growth of productivity, as has happened in other countries, such as the US. Production function studies and econometric model simulations suggest that with appropriate policies the Japanese economy can grow more rapidly and deal with its future problems. The book posits a number of policy proposals which would help to accelerate Japan's economic growth This book will be of interest to students of the Japanese economy, macroeconomics and international economies, and also to policymakers and professionals interested in Japan’s economy.

A Stanford University Press classic.

The Japanese acknowledge that Dr Osamu Shimomura is their most influential post-war economist but his works and his "economic model of Japan" with its key modification of the Keynesian investment-saving equilibrium condition to create an exploding economy, seems to be virtually unknown in the economics departments of Western universities. This book traces the timeline of the development of Investment Credit Creation economics - the economics understanding which has produced explosive economic growth - from its apparent beginning in FDR's USA during 1938-44 through the adoption of almost identical measures in post war Japan, with the active involvement of Dr Osamu Shimomura, and then the transfer of that new system to post-rapprochement China after 1972. In the view of the author, the Tokyo Consensus nations - China, Japan, South Korea and Taiwan - are using and continue to use the mindset of Shimomuran Economics to achieve great economic advantages and the West now needs to learn what part of Asia knows.

In this book Ryoshin Minami studies the last hundred years of Japan's remarkable economic growth from the Meiji period up to the present day. First, he reveals the factors which account for Japan's successful economic take-off during the Meiji period. Second, he explains why Japan achieved a more rapid rate of economic growth than other developed countries. This forms the major part of the book and will interest those in the developed countries who have felt the full force of Japan's export drive and whose own industries are consequently in decline. Finally, the author evaluates the results of Japan's economic growth and makes predictions for the future. The book makes a comprehensive survey of the Japanese experience in the pre- and post-war periods and points out lessons not only for developed countries but also for developing countries.

This volume presents an up-to-date study of the current state and future of Japanese economic growth, arguing that an information and communications technology revolution could revive Japanese economic growth.

Analyses the last hundred years of Japanese economic development, taking into consideration historical and social aspects. Identifies the factors which contributed to Japan's success, evaluates the results of Japan's rapid economic growth, and makes predictions for its future.