Political Economy Analysis of Significant Roles of MITI in Japan's Industrial Policies During Japan's Post-war Economic Miracle Period

Qingming Song ()
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Qingming Song: George Washington University, Elliott School of International Affairs

A chapter in Proceedings of the 2022 International Conference on Economics, Smart Finance and Contemporary Trade (ESFCT 2022), 2022, pp 240-246 from Springer

Abstract: Abstract Japan’s rapid economic recovery and growth during the post-war period were well-known, and the factors behind the growth varied, including Ministry of International Trade and Industry (MITI). This paper reviewed the literature to figure out a research question regarding the roles of MITI played in Japan’s industrial policies during Japan’s post-war economic miracle. Through examining the roles of MITI in Japan’s post-war industrial policies, the paper will present the positive effects of governmental intervention in the markets. To provide a relatively comprehensive analysis of MITI’s roles, this paper analysed 23 articles selected from Google Scholar. The paper focuses four areas within two levels of domestic and international: an intermediary role between government and market; the role of developing future information technologies; the role of promoting domestic tech-industries by loosening restrictions on foreign imports of advanced technologies; the role of initiating the cooperative R&D to boost domestic tech industries. Then, the paper concludes by discussing the political economy of MITI and its possible implications for other developing countries.

Keywords: MITI; Industrial policies; Economic miracle (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:advbcp:978-94-6463-052-7_28

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DOI: 10.2991/978-94-6463-052-7_28

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