Japan at Home: The Corporatist State

William R. Nester
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William R. Nester: St. John’s University of New York

Chapter 3 in European Power and The Japanese Challenge, 1993, pp 99-127 from Palgrave Macmillan

Abstract: Abstract During the summer of 1991, Japan was rocked by the revelation of two immense interrelated financial scandals. In June an investigation by the Tax Office of twenty-one Japanese securities firms revealed that they had kicked back over $1.5 billion to over 600 favored clients, including organized crime bosses (yakuza) and a government pension fund. The Big Four securities firms — Nomura, Daiwa, Nikko, and Yamaichi — accounted for about $1 billion of the total. Then in August it was revealed that Japan’s largest banks and other financial institutions had handled over $5 billion in fraudulent loans. Yet even these huge amounts of money and types of corruption were considered only the iceberg’s tip.

Keywords: Industrial Policy; Liberal Democratic Party; Opposition Parti; Japan Socialist Party; Lifetime Employment System (search for similar items in EconPapers)
Date: 1993
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-12995-9_3

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DOI: 10.1007/978-1-349-12995-9_3

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