Political Economy

Asia's Flying Geese: How Regionalization Shapes Japan - download pdf or read online

By Walter F. Hatch

ISBN-10: 0801448689

ISBN-13: 9780801448683

In Asia's Flying ducks, Walter F. Hatch tackles the puzzle of Japan's ironically gradual swap through the financial drawback it confronted within the Nineteen Nineties. Why did not the purportedly unstoppable pressures of globalization strength a quick and radical shift in Japan's enterprise version? In a booklet with classes for the bigger debate approximately globalization and its influence on nationwide economies, Hatch exhibits how eastern political and monetary elites delayed--but couldn't finally forestall--the transformation in their targeted model of capitalism via attempting to expand it to the remainder of Asia. for many of the Nineties, the area grew quickly as an more and more built-in yet hierarchical staff of economies. jap diplomats and economists got here to name them 'flying geese.' The 'lead goose' or such a lot built economic system, Japan, provided the capital, expertise, or even developmental norms to second-tier "geese" reminiscent of Singapore and South Korea, which themselves traded with Thailand, Malaysia, and the Philippines, and so forth down the V-shaped line to Indonesia and coastal China. Japan's version of capitalism, which Hatch calls 'relationalism,' was once hence fortified, while it grew to become more and more outdated.Japanese elites loved huge, immense merits from their management within the quarter so long as the flock stumbled on prepared markets for his or her items within the West. the last decade following the cave in of Japan's actual property and inventory markets may, despite the fact that, see advancements that eventually eroded the country's financial dominance. The Asian financial drawback within the past due Nineteen Nineties destabilized a number of the surrounding economies upon which Japan had in a few degree depended, and the People's Republic of China received new prominence at the international scene as an financial dynamo. those adjustments, Hatch concludes, have pressured actual transformation in Japan's company governance, its household politics, and in its ongoing kinfolk with its pals.

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Additional info for Asia's Flying Geese: How Regionalization Shapes Japan (Cornell Studies in Political Economy)

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526-30. 45. Asahi Shinbun, june 22, 1 98 1 , 9. 47. See Koike ( 1 98 1 ) . 48. In his now famous growth model, Robert Solow identified a residual that is unexplained by increases in labor and capital inputs. This residual is often regarded as a proxy for TFP. S. 25 G ermany UK :; France � 20 CIl 15 a 16 0:: #: � 25 r----�====� 20 t-------------.. > 1 990 1 980 Year Figure 2 . 1 . Rate of return o n capita l : A cross-national comparison Source. Alexander (1 997) , 8. Reproduced i n Katz (1 998) .

Kodama ( 1 99 1 . 1 44-46 and 1 5 1 -52) has called this a "na­ tional system of demand articulation , " a system of linkages that allows for the rapid integration of market requirements into a product concept and the equally rapid decomposition of that concept into development projects. It is an interactive system that relies on instantaneous feedback and results in shorter production cycles. Mindful of this two-way flow of resources, some scholars have concluded that vertical keiretsu represent another mechanism for sharing risks and re­ distributing profits from assemblers to suppliers.

27. " I discuss this further below. 28. The Dai-ichi Kangyo group was not actually formed until 1971 , when two banks-Dai­ ichi and Kangyo-merged. 29. See Sheard ( 1 994, 333-338) . 30. Pascale and Rohlen ( 1 983) do a fine job of telling (and analyzing) these events. 54 Part One: Base l i ne Nakatani ( 1 984) , as well as Lincoln, Gerlach, and Ahmadjian ( 1 996) , have demonstrated empirically that horizontal keiretsu serve a useful purpose­ at least in the event that the economy is still developing or maturing.

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Asia's Flying Geese: How Regionalization Shapes Japan (Cornell Studies in Political Economy) by Walter F. Hatch

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