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Cultural Foundations of Tokugawa Economic Growth

In: Culture and Institutions in the Economic Growth of Japan

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  • Juro Teranishi

    (Hitotsubashi University)

Abstract

The mechanism for the economic growth of Tokugawa Japan has long been an enigma. How did sustained growth occur without relying on foreign trade and the development of industrial technology? The effect of technological progress in agriculture, the most promising candidate as an explanatory variable, had already been denied in the 1970s. Most technology utilized in Tokugawa agriculture had been inherited from past eras, and the impact of new developments such as the improvement of rice varieties were insufficient because of the lack of an effective mechanism of diffusion. Not only does technical progress fail to explain the mechanism of growth, recent analyses focusing on institutional factors have been by and large unsuccessful.

Suggested Citation

  • Juro Teranishi, 2020. "Cultural Foundations of Tokugawa Economic Growth," Studies in Economic History, in: Culture and Institutions in the Economic Growth of Japan, chapter 6, pages 237-305, Springer.
    • Handle: RePEc:spr:stechp:978-4-431-55627-5_6
    DOI: 10.1007/978-4-431-55627-5_6
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