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Political Economy Analysis of Significant Roles of MITI in Japan's Industrial Policies During Japan's Post-war Economic Miracle Period

In: Proceedings of the 2022 International Conference on Economics, Smart Finance and Contemporary Trade (ESFCT 2022)

Author

Listed:
  • Qingming Song

    (George Washington University, Elliott School of International Affairs)

Abstract

Japan’s rapid economic recovery and growth during the post-war period were well-known, and the factors behind the growth varied, including Ministry of International Trade and Industry (MITI). This paper reviewed the literature to figure out a research question regarding the roles of MITI played in Japan’s industrial policies during Japan’s post-war economic miracle. Through examining the roles of MITI in Japan’s post-war industrial policies, the paper will present the positive effects of governmental intervention in the markets. To provide a relatively comprehensive analysis of MITI’s roles, this paper analysed 23 articles selected from Google Scholar. The paper focuses four areas within two levels of domestic and international: an intermediary role between government and market; the role of developing future information technologies; the role of promoting domestic tech-industries by loosening restrictions on foreign imports of advanced technologies; the role of initiating the cooperative R&D to boost domestic tech industries. Then, the paper concludes by discussing the political economy of MITI and its possible implications for other developing countries.

Suggested Citation

  • Qingming Song, 2022. "Political Economy Analysis of Significant Roles of MITI in Japan's Industrial Policies During Japan's Post-war Economic Miracle Period," Advances in Economics, Business and Management Research, in: Faruk Balli & Au Yong Hui Nee & Sikandar Ali Qalati (ed.), Proceedings of the 2022 International Conference on Economics, Smart Finance and Contemporary Trade (ESFCT 2022), pages 240-246, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-052-7_28
    DOI: 10.2991/978-94-6463-052-7_28
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