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Restructuring the Japanese Economy: Policies and Performance

In: Global Protectionism

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  • Ippei Yamazawa

Abstract

This paper analyses the drastic changes of the Japanese economy during the 1970s and 1980s, focusing on her restructuring policies and performance. In these two decades the world has experienced sizeable fluctuations in the prices of petroleum and other primary commodities. Major industrial countries have been affected by the sudden constraints of raw-material and energy inputs to their industries and have tried to overcome them by implementing appropriate policies and by adjusting their industrial structures. Some countries have done better than others, though, and consequently huge trade imbalances have resulted. Japan, with her high dependence on imports of raw materials and energy, was affected most seriously by these fluctuations. However, she has made a better adjustment than many other countries, recovering quickly from her growth setback and increasing her share of world production and trade.

Suggested Citation

  • Ippei Yamazawa, 1991. "Restructuring the Japanese Economy: Policies and Performance," Palgrave Macmillan Books, in: David Greenaway & Robert C. Hine & Anthony P. O’Brien & Robert J. Thornton (ed.), Global Protectionism, chapter 3, pages 40-67, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-11724-6_4
    DOI: 10.1007/978-1-349-11724-6_4
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