By P. Francks
This newly revised, clearly-presented textual content seems to be at Japan's financial background from the 19th century via to global warfare II. operating inside of a framework in response to the theories and techniques of improvement stories, Francks demonstrates the relevance of Japan's pre-war adventure to the issues dealing with constructing international locations this present day, and attracts out the historic roots of the associations and practices on which Japan's post-war financial miracle was once dependent. New good points comprise: * clean theoretical views* extra fabric derived from new assets* an elevated variety of case stories * totally up-dated references and bibliography. This broad-ranging textbook is either topical and easy-to-use and should be of monstrous use to these looking an knowing of jap financial improvement.
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Additional resources for Japanese Economic Development: Theory and Practice (Nissan Institute Routledge Japanese Studies Series)
Nonetheless, as Smith (1970:197–8) points out, the subsequent responsiveness of the private sector of the economy to the opportunities opened up after 1868 is inexplicable if it is assumed that the idea of the sole responsibility of the ruling ‘official’ class for innovations to improve the welfare of the people was universally accepted during the Tokugawa period. There is growing evidence of a belief among sections at least of the merchant and farming classes in the value and virtue of individual efforts to improve the economic and technological workings of agriculture and industry (Najita 1987).
This was a belief fundamentally subversive of the ideology of the samurai-ruled state, but one whose acceptance, out in the non-official world, meant that, once the economic and social barriers of the Tokugawa system began to break down, members of the rural and urban landowning and handicraft-industry classes were to prove by no means unenterprising in the face of new opportunities. THE STATE AND EARLY INDUSTRIALISATION / 25 THE WESTERN IMPACT AND THE ADOPTION OF THE GOAL OF INDUSTRIALISATION Throughout its early history, Japanese state and society had had contact with, and been profoundly influenced by, the civilisations of China and Korea, but it was not until the middle of the sixteenth century that travellers from outside Asia first began to reach Japanese shores.
The substantial evidence that East Asian governments had ‘targeted’ particular industries for promotion, ensuring them privileged access to credit through the financial system and assorted other forms of assistance and support, represented a significant challenge to these prescriptions, but the World Bank’s analysis of the causes of the East Asian miracle concluded that such targeting had been either ineffective, not to say counter-productive, or ‘market friendly’, disciplining firms to follow the path that market forces would have indicated anyway.