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Institutional Restructuring in the Japanese Economy 1985-1996


  • Kazuyoshi Matsuura
  • Michael Pollitt
  • Ryoji Takada
  • Satoru Tanaka


The question we seek to address is: what effect has economic turbulence since 1985 had on three of the institutional foundations of post-war Japanese industrial success? First, we examine the Japanese 'main bank' system whereby a 'main' bank is involved in a special type of long-term relationship with the non-financial firms that it lends to. Second, we look at the close inter-corporate relationships between main manufacturing firms and their suppliers. And third, we consider the nature of Japanese industrial policy and the interventionist role of the Ministry of International Trade and Industry (MITI) and the relatively weak role of Japanese competition policy under the authority of the Japan Fair Trade Commission (JFTC). In each case we present evidence which suggests that these institutional foundations of the post- war Japanese economy have been fundamentally weakened over the period we look at.

Suggested Citation

  • Kazuyoshi Matsuura & Michael Pollitt & Ryoji Takada & Satoru Tanaka, 1999. "Institutional Restructuring in the Japanese Economy 1985-1996," Working Papers wp115, Centre for Business Research, University of Cambridge.
  • Handle: RePEc:cbr:cbrwps:wp115
    Note: PRO-1

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    Cited by:

    1. Sandra Dow & Jean McGuire & Toru Yoshikawa, 2011. "Disaggregating the group effect: Vertical and horizontal keiretsu in changing economic times," Asia Pacific Journal of Management, Springer, vol. 28(2), pages 299-323, June.
    2. Jurgen Essletzbichler & Kazuo Kadokawa, 2010. "The Evolution of Regional Labour Productivities in Japanese Manufacturing, 1968-2004," Regional Studies, Taylor & Francis Journals, vol. 44(9), pages 1189-1205.

    More about this item


    main bank system; buyer-supplier relationships; industrial policy; competition policy; Japanese economy.;

    JEL classification:

    • E65 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Studies of Particular Policy Episodes
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • L22 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Organization and Market Structure
    • L40 - Industrial Organization - - Antitrust Issues and Policies - - - General
    • P17 - Economic Systems - - Capitalist Systems - - - Performance and Prospects


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