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Corporate Governance in Japan: Role of Banks, Keiretsus and Japanese Traditions

In: The Governance of East Asian Corporations

Author

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  • Huong N. Higgins

Abstract

Japan’s economy is the second largest in the world. The country’s productivity ranks among the top dozen advanced economies. Its level of industry is at or near the top rank in the advanced products, materials and production processes that define the world’s technology frontier. Despite its lack of natural resources, Japan transformed itself from a war-torn country to an economic giant within one generation. Between the 1950s and the 1973–74 oil embargo, Japan averaged 10% real Gross National Product (GNP) growth a year. That high level of economic growth slowed to an average rate of 5% between 1975 and 1990, however, the last ten years in Japan have been characterized by financial crisis and prolonged recession, and she is now showing signs of serious difficulties in obtaining any growth at all.

Suggested Citation

  • Huong N. Higgins, 2004. "Corporate Governance in Japan: Role of Banks, Keiretsus and Japanese Traditions," Palgrave Macmillan Books, in: The Governance of East Asian Corporations, chapter 5, pages 96-116, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-52327-2_5
    DOI: 10.1057/9780230523272_5
    as

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