"Selection and imitation in institutional evolution: Analysis of institutional change in Japan, 1960-1999"(in Japanese)

Tetsuji Okazaki

No CIRJE-J-118, CIRJE J-Series from CIRJE, Faculty of Economics, University of Tokyo

Abstract: This paper presents an empirical framework to analyze institutional changes, and applies it to the evolution of economic institutions in Japan, specifically main bank system and long-term employment. Ideas of evolutionary biology and organizational ecology are applied to the empirical analysis of institutional evolution. The basic question is how the mechanisms of selection and imitation work in the evolution of the economic institutions. I focus on four factors of fitness, namely (i) growth rate, (ii) exit (death) rates, (iii) entry (birth) rate, and (iv)rate of the change of attribute. (i), (ii) and (iii) represent selection, while (iv) represents imitation. Constructing a data set on the population of the industrial firms in Japan from 1960 to 1999, I examine how the composition of the firm population has changed over time, with respect to institutional attributes, specifically main bank relationship, to what extent the fitness factors (i)-(iv) have contributed to that change, and whether main bank system has co-evolved with long-term employment.

Pages: 34 pages
Date: 2004-10
New Economics Papers: this item is included in nep-his and nep-sea
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.cirje.e.u-tokyo.ac.jp/research/dp/2004/2004cj118.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:tky:jseres:2004cj118

Access Statistics for this paper

More papers in CIRJE J-Series from CIRJE, Faculty of Economics, University of Tokyo Contact information at EDIRC.
Bibliographic data for series maintained by CIRJE administrative office ().