Postwar Private Consumption Patterns of Japanese Households: The Role of Consumer Durables
In Japan in the 1950s and 1960s the economic objectives for consumers, corporations and the government coincided. Consumers wanted to improve their standard of living, corporations tried to increase their productivity through modernisation and industrialisation and the government attempted to foster a new economic system to rebuild the devastated economy after the Second World War and to maintain employment security. The desire to purchase consumer durables for households was significant in stimulating development and the role of consumer durables was important in stimulating investment and the supply of financial capital through household savings. The government had to channel such savings to corporations in order to increase domestic supply and to satisfy the desire of households to purchase consumer durables to increase the standard of living.
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- Horioka, Charles Yuji, 1990. "Why is Japan's household saving rate so high? A literature survey," Journal of the Japanese and International Economies, Elsevier, vol. 4(1), pages 49-92, March.
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