Institutional Change Under Neoliberal Pressure
Japanese Regulatory Reforms in Labor and Financial Markets
Bibliographic Data
| ID | 6041287 |
|---|---|
| Authors | Hiroaki Richard Watanabe (0000-0002-8377-0195, University of East Asia, corresponding author) |
| Year | 2015 |
| Volume | 7 |
| Issue | 3 |
| Pages | 413-432 |
| Publication date | 2015-07-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Asian Politics & Policy (JOURNAL) |
| Journal identifiers | ISSN: 1943-0787 • E-ISSN: 1943-0779 |
| Publisher | Wiley (PUBLISHER • GB) |
| DOI | 10.1111/aspp.12200 |
| OpenAlex | W2125912483 |
| Language | EN |
| Citations received | 2 |
| References cited | 42 |
This article examines why the Japanese government eventually introduced greater market mechanisms in the labor and financial markets despite experiencing different political processes of regulatory reforms. The article claims that, while socioeconomic factors such as globalization and economic crises and international factors such as policy diffusion were important catalysts for neoliberal institutional change, the political resources of and power relations between market‐oriented reformers and nonmarket coordination‐oriented anti‐reformers affected regulatory reform processes and decided their characteristics. In the labor market reform, the government of the Liberal Democratic Party (LDP) promoted deregulation by establishing cabinet committees, whose members acted as neoliberal policy entrepreneurs by representing employers’ interests. In the financial regulatory reform, LDP senior members and financial bureaucrats resisted reform as veto players by informally coordinating with the financial sector. However, market‐oriented reforms were eventually introduced by LDP and opposition reformers, whose policy entrepreneurship was crucial to market‐oriented institutional change
Deregulation · Economic policy · Economics · Factor market · Financial market · Financial regulation · Financial system · Market economy · Nonmarket forces · Opposition (politics · Political economy · Political science · Politics · Regulatory reform · Veto · Housing, Finance, and Neoliberalism · Political and Economic history of UK and US · Social Policy and Reform Studies · Finance
Freer markets, more rules
Financial Politics in Contemporary Japan
Institutional Change and Globalization
The rules of the game
Agendas, alternatives, and public policies
Veto Players
Varieties of Capitalism
Development and Crisis of the Welfare State
Introduction
Rethinking Institutions and Institutional Change in European Industrial Relations
A Theory of Gradual Institutional Change
Explaining Institutional Change
Introduction
Varieties of Capitalism, Varieties of Approaches
Capitalist Diversity and Diversity within Capitalism
The End of Diversity
Capitalist Diversity and Change
Great Transformations
Disparaged Success
The Changing Japanese Political System
The Rise of Finance and the Decline of Organised Labour in the Advanced Capitalist Countries
Japan's Financial Crisis
Power Resources and Employer-Centered Approaches in Explanations of Welfare States and Varieties of Capitalism
Temporary workers, women and labour policy-making in Japan
Approaches to the State
A neorealist approach to institutional change and the diversity of capitalism
Dialectics of institutional change
Making sense of financialization
A Common Neoliberal Trajectory
| Unique citing works | 2 |
|---|---|
| Citations per year | 0,2 |
| Citation span | 2016 - 2023 (8) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 2 |