The Japanese Economy

Paperback | March 26, 2014

byDavid Flath

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Japan remains one of the dominant economic powers. 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: an exception to the standard models of modern economics. This bookdemolishes 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 showsthat the mainstream principles of economics apply in Japan as successfully as they do elsewhere. Revised and updated to take account of recent developments in Japanese banking and macroeconomics, this book is an indispensable resource for students and instructors alike. Lucid explanations and comprehensive and rigorous analysis make it natural choice for anyone interested in comprehending therise of the Japanese economy.

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Japan remains one of the dominant economic powers. 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: an exception to the standard models of modern economics. This bookdemolishes that notion, bringing the full analyt...

David Flath is Professor of Economics at Ritsumeikan University and Professor Emeritus of North Carolina State University, where he was employed from 1976 to 2007. He has previously been Adjunct Professor of Economics at the Osaka University Institute of Social and Economic Research (2009-13), and Visiting Professor of Economics at K...

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Format:PaperbackDimensions:390 pages, 9.69 × 7.44 × 0.07 inPublished:March 26, 2014Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:019870240X

ISBN - 13:9780198702405

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Table of Contents

Introduction1. Incomes and Welfare of the Japanese Today2. Economic History, Part 1: The Tokugawa Period (1603-1868) and the Meiji Era (1868-1912)3. Economic History, Part 2: The Twentieth Century (1912-1945)4. Economic History, Part 3: Postwar Recovery (1945-1964)5. Saving6. Macroeconomy7. International Finance8. International Trade9. Industrial Policy10. Public Economy, Part 1: Government Spending11. Public Economy, Part 2: Taxes12. Environmental Policy13. Industrial Organization14. Finance15. Marketing16. Labor17. TechnologyGlossary

Editorial Reviews

"In conclusion, one really cannot fault this book and it was a pleasure to read. While it is not a history of the Japanese economy per se, one can open the book at almost any page and learn something about Japan's history in the context of its economy. It is a well-written, lucid andattractive book, and should be recommended reading for all students of Japan's economy and business. Its broad historical sweep should make it appealing to business historians, too, particularly those with an interest in economics." --Michael J. Lynskey, Business History