 Revival of Japan's industrial policy and its implications for economic securityHideyuki Miura Chapter 15 in A Modern Guide to Industrial Economics, 2026, pp 276-298 from Edward Elgar Publishing Abstract: Japan has witnessed a renewed emphasis on industrial policy. Following the Second World War, Japan achieved remarkable economic growth through active government involvement in key industries. However, by the late twentieth century, industrial policy fell out of favor due to growing skepticism about its effectiveness and concerns over market distortions. Why, then, has industrial policy, once considered stagnant, been revived in Japan? How has the government legitimized its contemporary industrial strategies? This chapter addresses these questions by examining the differences between Japan's traditional and recent industrial policies, focusing on the semiconductor and cloud services sectors. The chapter argues that the revival of industrial policy is driven by structural challenges, such as persistent deflation and economic stagnation, the global resurgence of industrial policy in Western economies, and especially by growing concerns over economic security. These factors have contributed to the Japanese government's active and strategic re-engagement with industrial policy. Keywords: Cloud services; Economic security; Industrial Policy; Japan; Semiconductors (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:elg:eechap:24751_15 Ordering information: This item can be ordered from Access Statistics for this chapter More chapters in Chapters from Edward Elgar Publishing |
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