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Property Rights and Indigenous Tradition Among Early 20th Century Japanese Firms

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Author Info

  • Yoshiro Miwa

    (Faculty of Economics, Universtiy of Tokyo)

  • J. Mark Ramseyer

    (Harvard Law School/CIRJE, University of Tokyo)

Abstract

In several fields, modern academics trumpet the contingency of social science and the indeterminacy of institutional structures. The Japanese experience during the first half of the 20th century, however, instead tracks what much-derided chauvinists have claimed all along: modern legal institutions largely trump indigenous organizational frameworks, and modern rational-choice theory nicely predicts how people respond to such institutions. As orientalist as it may seem, such theory goes a long way toward explaining the real world in which we live. Prepared for a conference on the rule of law in Asia, UCLA School of Law, January 2001.

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Bibliographic Info

Paper provided by CIRJE, Faculty of Economics, University of Tokyo in its series CIRJE F-Series with number CIRJE-F-104.

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Length: 13 pages
Date of creation: Feb 2001
Date of revision:
Handle: RePEc:tky:fseres:2001cf104

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  1. Yoshiro Miwa & J. Mark Ramseyer, 1999. "Corporate Governance in Transitional Economies: Lessons from the Pre-War Japanese Cotton Textile Industry," CIRJE F-Series CIRJE-F-48, CIRJE, Faculty of Economics, University of Tokyo.
  2. Miwa, Yoshiro & Ramseyer, J Mark, 2002. "Banks and Economic Growth: Implications from Japanese History," Journal of Law and Economics, University of Chicago Press, vol. 45(1), pages 127-64, April.
  3. Yoshiro Miwa & J. Mark Ramseyer, 1999. "The Value of Prominent Directors," William Davidson Institute Working Papers Series 279, William Davidson Institute at the University of Michigan.
  4. Easterbrook, Frank H, 1984. "Two Agency-Cost Explanations of Dividends," American Economic Review, American Economic Association, vol. 74(4), pages 650-59, September.
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Cited by:
  1. Peter L. Rousseau & Richard Sylla, 2003. "Financial Systems, Economic Growth, and Globalization," NBER Chapters, in: Globalization in Historical Perspective, pages 373-416 National Bureau of Economic Research, Inc.

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