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Business Start-Ups in Japan: Problems and Policies

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  • Imai, Yutaka
  • Kawagoe, Masaaki

Abstract

This paper argues that the comparatively low levels of business start-ups in Japan need not be a matter of concern in so far as the pattern of growth relying on existing companies persists. But the declining trend of start-up rates may be worrisome for it may indicate waning entrepreneurship and weakening mechanisms of resource reallocation and economic growth. Policy measures to promote business start-ups are not based on well-founded studies at an aggregate level, which are lacking in the absence of comparable data, but rather are inspired by the successful US experience. The paper looks into two specific areas of policy--private equity markets and bankruptcy--where important progress has been made, and points to further scope for improvement. Copyright 2000 by Oxford University Press.

Suggested Citation

  • Imai, Yutaka & Kawagoe, Masaaki, 2000. "Business Start-Ups in Japan: Problems and Policies," Oxford Review of Economic Policy, Oxford University Press, vol. 16(2), pages 114-123, Summer.
  • Handle: RePEc:oup:oxford:v:16:y:2000:i:2:p:114-23
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    Cited by:

    1. Miroslav Prokopijevic, 2002. "Does growth further improve economic freedom?," ICER Working Papers 16-2002, ICER - International Centre for Economic Research.
    2. Michael E. Porter & Mariko Sakakibara, 2004. "Competition in Japan," Journal of Economic Perspectives, American Economic Association, vol. 18(1), pages 27-50, Winter.
    3. Rod Tyers & Ying Zhang, 2011. "Japan’s Economic Recovery: Insights from Multi-Region Dynamics," CAMA Working Papers 2011-18, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    4. Cumming, Douglas & Li, Dan, 2013. "Public policy, entrepreneurship, and venture capital in the United States," Journal of Corporate Finance, Elsevier, vol. 23(C), pages 345-367.
    5. Lechevalier, Sébastien & Nishimura, Junichi & Storz, Cornelia, 2014. "Diversity in patterns of industry evolution: How an intrapreneurial regime contributed to the emergence of the service robot industry," Research Policy, Elsevier, vol. 43(10), pages 1716-1729.
    6. Lee, Seung-Hyun & Peng, Mike W. & Song, Sangcheol, 2013. "Governments, entrepreneurs, and positive externalities: A real options perspective," European Management Journal, Elsevier, vol. 31(4), pages 333-347.

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