Two Crises, Different Outcomes 2018
DOI: 10.7591/9780801455025-012
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8. Japan

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“…In the case of Japan, the analysis is particularly relevant because the country was the pioneer reference -in terms of State action and management-labor relations -for other nations of the region and also by the fact that, at that time, it was the largest Asian power being the core of that capitalist block; with a developmentalist and industrialist model based on massive investments and manufacture exports that allowed it to successfully escape from the middle-income trap (Tsunekawa, 2015). It should be noted, however, that when the crisis broke out the country was already in the midst of a severe recession and stagnation due to the burst of the national speculative bubble at the beginning of the decade, whose origins in turn date back to the 1980s.…”
Section: Revisiting the Regional Financial Collapse: A Reappraisalmentioning
confidence: 99%
See 4 more Smart Citations
“…In the case of Japan, the analysis is particularly relevant because the country was the pioneer reference -in terms of State action and management-labor relations -for other nations of the region and also by the fact that, at that time, it was the largest Asian power being the core of that capitalist block; with a developmentalist and industrialist model based on massive investments and manufacture exports that allowed it to successfully escape from the middle-income trap (Tsunekawa, 2015). It should be noted, however, that when the crisis broke out the country was already in the midst of a severe recession and stagnation due to the burst of the national speculative bubble at the beginning of the decade, whose origins in turn date back to the 1980s.…”
Section: Revisiting the Regional Financial Collapse: A Reappraisalmentioning
confidence: 99%
“…Also, the reform of the administrative structure in wake of the liberalizing wave decentralized and fragmented industrial policy among different ministries, with a subsequent emptying of attributes of the MITI (Lechevalier et al, 2017). This set of measures represented the erosion of established practices and institutions that facilitated the coordination of interests between market and government (Tsunekawa, 2015;Lechevalier et al, 2017).…”
Section: Revisiting the Regional Financial Collapse: A Reappraisalmentioning
confidence: 99%
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