Can the Japan Inc. Model Be a Middle Course for Transition?: Industrial Policy and Postwar Economic Development of Japan

Okita Yoichi

Chapter 9 in Transition from Socialist to Market Economies, 2009, pp 188-210 from Palgrave Macmillan

Abstract: Abstract Throughout the 1990s the regular consulting meetings were held between the Japanese Economic Planning Agency and the Soviet Ministry of Economy. In particular in the middle part of the 1990s—I was a member in 1996—the Russian officials asked the Japanese officials and economists what kinds of programs would be effective to restore the Russian economy, and if we could offer a new approach different from the one recommended thus far by the IMF and American economists. They were asked if the Japanese model might be a promising choice for transitional economies. The Russian authorities believed that the Japanese model was an intermediate regime between a planned economy and a free market economy, and might have been trying to formulate a gradualist program in which the Japanese model could be used as a first step in the early stage of transition.

Keywords: Foreign Direct Investment; Trade Liberalization; Industrial Policy; Coordination Failure; Infant Industry (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-24498-6_10

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DOI: 10.1057/9780230244986_10

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