Japanese-style capitalism

Sato, Kazuo

Japanese-style capitalism is a collusive system of national politics, elite bureaucracy, and big business. Elaborated in the course of rapid growth, it served Japan's post-war economic growth in flying colors. But on-going structural changes, induced by growth slowdown and population aging, now places Japanese-style capitalism in jeopardy. In this paper, we review these changes in the near past -- changes in the microeconomic sphere such as the family system, the employment system and the business system and changes in the macroeconomic sphere such as increasing part-time work in the labor market, slowdown in technical change, decline in manufacturing at home, persistence of trade surplus, and ongoing financial deepening.

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Academic Units
Center on Japanese Economy and Business
Center on Japanese Economy and Business, Graduate School of Business, Columbia University
Center on Japanese Economy and Business Working Papers, 166
Published Here
February 10, 2011