From Industrial Policy to Structural Policy
Faculty
HAYASHI, Ryozo
Credit / Semester / Schedule
2 Credits / Winter Semester / Tuesday Period: 5
Description
This course will examine the rise and decline of Japanese Economy. Japan started from nothing after WW2. She had succeeded in realizing astonishing rate of growth between 1945 and 1970. The conditions that made such miracle possible had been analyzed by many scholars in 70’s and 80’s. The course will examine the relations among several elements which facilitated rapid growth: Industrial Policy on one side and skillfully controlled capital market, lifetime employment system and aggressive management on the other side.Such high growth was slowed by the international constraints; Energy Crisis and Currency Revaluation. However, Japan survived as the highest growth rate nation among G7. The class will look into how Japan survived.
Then Japan went through “Alost decade.” The class will examine the dynamism behind the decline.
The class will be conducted in English. Student will be expected to make joint report on the assigned readings in the class, and to participate in the class discussion.
Course materials
・ Komiya & Ito The Political Economy of Japan
・ Johnson MITI and the Japanese Miracle
・ Okimoto Between MITI and Market
・ Curtis Japanese Way of Politics
・ Aoki Information, incentives, and bargaining in the Japanese economy
・ Yergin Commanding Heights
Grading
Grading will be based on class participation, presentation and a final report.