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Economic Consequences of Investment Coordination in the Steel Industry

In: Firms and Industrial Organization in Japan

Author

Listed:
  • Yoshiro Miwa

    (University of Tokyo)

Abstract

With this statement Richard Caves begins a paper on ‘Direct Regulation and Market Performance in the American Economy’. He argues that ‘the right questions have not been asked about the effects of regulation, nor the right tests performed’ (p. 172).1 A big wave of interest in the effectiveness of direct government regulation began in the 1960s, with theoretical research being followed by empirical studies. During this period people were optimistic about policy effectiveness as the government’s role in the economy expanded rapidly. In the 1970s, this optimism gradually faded as the age of deregulation began, becoming a worldwide trend in the 1980s.2

Suggested Citation

  • Yoshiro Miwa, 1996. "Economic Consequences of Investment Coordination in the Steel Industry," Palgrave Macmillan Books, in: Firms and Industrial Organization in Japan, chapter 9, pages 157-176, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-37146-0_9
    DOI: 10.1057/9780230371460_9
    as

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