Continuity and Change in the Japanese Economy
Evidence of Institutional Interactions between Financial and Labour Markets
Bibliographic Data
| ID | 23196128 |
|---|---|
| Authors | Mari Sako (0000-0003-3465-0047, University of Oxford), Masahiro Kotosaka (0000-0002-5637-1551, University of Oxford) |
| Year | 2012 |
| Pages | 132-156 |
| Publication date | 2012-07-26 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | CHAPTER |
| Venue | East Asian Capitalism (SOURCE_BOOK) |
| Publisher | Oxford University Press (PUBLISHER • GB) |
| DOI | 10.1093/acprof:oso/9780199643097.003.0007 |
| OpenAlex | W91878492 |
| ISBN | 9780199643097 |
| Language | EN |
| Citations received | 4 |
The political economy of Japan has been characterized by tightly knit institutions of relational coordination, such as the main bank system, lifetime employment, long-term supplier relations in intermediate product markets, and neo-corporatist business–labour–government relations in policymaking. By the late 1990s, however, diverse patterns of organizing have become evident, with the growth of new stock exchanges and venture capital, the development of atypical forms of employment alongside lifetime employment, and the breakdown of the coordinated Shunto wage bargaining system. This chapter examines the nature of institutional change and continuity in the Japanese economy. It presents a framework for analysing institutional change in a specific direction towards liberalization. This is used to examine the nature of institutional changes in capital markets and labour markets separately, before analysing interactions between these two market institutions. Institutional change is much more extensive in labour markets than in capital markets, and that the interaction between the two institutional domains has been somewhat limited.
Capital market · Economic system · Economics · Financial market · Institutional change · Labour economics · Liberalization · Market economy · Political science · Product market · Wage · Finance · Housing, Finance, and Neoliberalism · Industrial relations · Labor Movements and Unions · Political Economy and Marxism
| Unique citing works | 4 |
|---|---|
| Citations per year | 0,44 |
| Citation span | 2017 - 2022 (6) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 3 |