The Japanese Economy

Although still the worlds third largest economy, Japan continues to feel the effects of the collapse of a massive asset price bubble in the early 1990s. In recent years further setbacks, including both the Asian and global financial crises, and the 2011 Fukushima earthquake, have only added to the economys difficulties and made its prospects under Abenomics at best mixed.

Hiroaki Richard Watanabe examines the ups and downs of Japans postwar economic history to offer an up-to-date and authoritative guide to the workings of Japans economy. The book highlights the countrys distinct business networks and its unique statemarket relationship. It explores the characteristic institutional complementarity that exists among different sectors and business practices and gives particular attention to human factors, such as labour market dualism, gender discrimination and migration. Although often associated in western minds with futuristic automated efficiency, Japans economy, Watanabe shows, retains many inefficient and peculiar business practices that do not comply with global standards.

The book provides readers with a concise survey of Japans recent economic history, the economys characteristic features and the challenges it faces.