Re-Visiting The Roots Of Japan'S Structural Decline:The Role Of The Japanese Corporation
For a long period in the twentieth century, the development of the Japanese corporation appeared congruent with the development of the Japanese economy. The growth maximising behaviour of the Japanese corporation and the preference for internal growth over acquisitions (see Odagiri, 1992) appeared to suit the long-term ambitions of Japan. Now, that formerly clear connexion between the ambitions of corporate Japan and the Japanese public interest is no longer so clear. Increasingly, the global ambitions of the corporation appear as an impediment to Japan's development. By favouring the development of large-scale transnational corporations, Japanese industrial policy-making appears to have contained a fundamental flaw. Japan is now dominated by large-scale organisations that are controlled by a corporate elite. It is unlikely that their strategic decisions will correspond with the wider public interest, which raises the possibility that Japan is now afflicted with "strategic failure". Other examples from around the world suggest that Japan is not unique in this respect. Alternative ways forward are suggested.
|Date of creation:||2002|
|Date of revision:|
|Contact details of provider:|| Postal: |
Phone: +44 (0) 2476 523202
Fax: +44 (0) 2476 523032
Web page: http://www2.warwick.ac.uk/fac/soc/economics/
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Cowling, Keith & Tomlinson, Philip R, 2000. "The Japanese Crisis--A Case of Strategic Failure?," Economic Journal, Royal Economic Society, vol. 110(464), pages F358-81, June.
- Boltho, Andrea & Corbett, Jenny, 2000. "The Assessment: Japan's Stagnation--Can Policy Revive the Economy?," Oxford Review of Economic Policy, Oxford University Press, vol. 16(2), pages 1-17, Summer.
- repec:cup:cbooks:9780521358668 is not listed on IDEAS
- Teece, David J, 1993. "The Dynamics of Industrial Capitalism: Perspectives on Alfred Chandler's Scale and Scope," Journal of Economic Literature, American Economic Association, vol. 31(1), pages 199-225, March.
- Aoki, Masahiko, 1990. "Toward an Economic Model of the Japanese Firm," Journal of Economic Literature, American Economic Association, vol. 28(1), pages 1-27, March.
- Glyn, Andrew & Rowthorn, Bob, 1988. "West European Unemployment: Corporatism and Structural Change," American Economic Review, American Economic Association, vol. 78(2), pages 194-99, May.
- Cowling, Keith & Sugden, Roger, 1998. "The Essence of the Modern Corporation: Markets, Strategic Decision-Making and the Theory of the Firm," The Manchester School of Economic & Social Studies, University of Manchester, vol. 66(1), pages 59-86, January.
- Hanazaki, Masaharu & Horiuchi, Akiyoshi, 2000. "Is Japan's Financial System Efficient?," Oxford Review of Economic Policy, Oxford University Press, vol. 16(2), pages 61-73, Summer.
When requesting a correction, please mention this item's handle: RePEc:wrk:warwec:624. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Helen Neal)
If references are entirely missing, you can add them using this form.