The Impact Of Japanese Great Recession On Foreign...

The Impact Of Japanese Great Recession On Foreign...
In late 80s Japanese government liberalized the environment of foreign investment and relaxed trade
obstacles and gave more freedom in market regulations. However the police remained conservative
and it was not seen unless the situation warranted. (Hoshi & Kashyap 2004) The government took a
step back and policies became more conservative in nature, with the policies only surfacing when
they are absolutely necessary (Hoshi & Kashyap 2004). The economy worsened showing a growth
rate of about 2%; and sunk into a period which (Kuttner & Posen 2001) referred to as 'Japanese
Great Recession'.
The supply side opinions for this situation explains: decrease in output growth (Saito 2000); reduced
service area performance (Kay & Clark 2005); and a decreasing birth rate meaning an elderly labour
force. The Demand Side arguments base their reasons on the external forces which lead to in an
appreciation of the Japanese yen compared to the dollar and the resulting defective monetary policy,
which lead to in deflation and the formation of a liquidity trick since the 1990s (Tyers 2012).
Korea is ranked the 14th largest economy according to world bank GDP ranking. The scenario was
totally different 50 years ago with Korea being poorer than Bolivia. The Korean economy has been
able to register annual growth of 7% with banks more efficient than it was during financial crisis of
1990s.
The Korean Government and Central Bank has responded to the crisis timely by taking various steps
(Bank of
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The United States And Japanese Economies
A Leading Indicators Comparison of the United States and Japanese Economies
The United States has for more than a century maintained the largest economy in the world. Japan,
on the other hand, currently has the third largest economy in the world (according to some
estimates) after realizing incredible growth since the damage and ruin it experienced during World
War II (BBC, 2015). This essay compares and contrasts the current economies of the United States
and Japan in terms of three leading economic indicators: real Gross Domestic Product (GDP),
inflation, and unemployment. While some similarities exist between the two economies this
comparison will highlight what the differences mean in terms of economic health for the two
countries.
Real GDP (Gross Domestic Product)
One of the most comprehensive measurements of the health and well–being of a country's economy
is considered real GDP (AIAA, 2003). Real GDP is defined as the "value of the entire output
produced annually within a country's boundaries, adjusted for price changes" (Arnold, 2011, p. 145).
According to the American Association of Individual Investors (AIAA), (2003), real GDP indicates
"how fast [a country's] profits may grow and the expected return on capital" (p. 14). A country's
actual GDP can increase or decrease due to changes in inflation, so since real GDP is adjusted for
changes in price, it is a truer measurement for comparison purposes. To present an apples to apples
comparison, this section will

World War II: The Japanese Economy
In the years after World War II, much of Europe was left in ruins, never to be the same again. While
World War II was most well–known because of the Holocaust, the war that broke out in the Pacific
between the United States and Japan left the Japanese utterly defeated. Yet somehow in the years
following the war, the Japanese economy grew at an exponential rate for several decades. Japan's
economy flourished, the cause of this was largely due to the over sight of the United States, as well
as the resilience and teamwork mentality of the Japanese workers, with the effect being a revitalized,
modern Japanese economy that now competes with all the world superpowers for market share. For
several years after the conclusion of World War II, Japan ... Show more content on Helpwriting.net
...
It scared the United States, we sat back and scratched our heads wondering how this little island that
we demolished a few decades ago rebuilt themselves so fast and rivaled, and at times passed up, our
economy; the economy of the greatest world superpower. They gained access to western technology
and used it to their advantage to create this high–tech Japan we see today and they continue to find
ways to create more using less, the Japanese's keen ability to use adopted technology to create new
technology could lead to another "Japanese

The Triple Disaster of March 2011 and Its Impact on...
1. The triple disaster of March 2011 and its impact on Japanese politics and economy The triple
disaster: earthquake, tsunami and Fukushima nuclear accident. The earthquake and tsunami caused
extensive and severe structural damage in north–eastern Japan, including heavy damage to roads and
railways as well as fires in many areas, and a dam collapse. Naoto Kan said, "In the 65 years after
the end of World War II, this is the toughest and the most difficult crisis for Japan." Around 4.4
million households in northeastern Japan were left without electricity and 1.5 million without water.
The tsunami caused nuclear accidents, primarily the level 7 meltdowns at three reactors in the
Fukushima Daiichi Nuclear Power Plant complex, and the ... Show more content on Helpwriting.net
...
Rebuilding will lift the economy a bit, but it will be outweighed by the probable increase to the
national debt –– already twice as big as Japan 's annual economic output.
The quake and tsunami damaged or closed down key ports, and some airports shut briefly. This
disrupted the global supply chain of semiconductor equipment and materials. Japan manufactures
20% of the world 's semiconductor products, including NAND flash, an indispensable electronic
part of Apple 's iPad. Japan also supplies the wings, landing gears and other major parts of Boeing 's
787 Dreamliner. Automakers Toyota, Nissan, Honda, Mitsubishi and Suzuki temporarily suspended
production. A total of 22 plants, including Sony, were shut in the area.
2. Japan's energy policy after Fukushima disaster The country lacks significant domestic reserves of
fossil fuel, except coal, and must import substantial amounts of crude oil, natural gas, and other
energy resources, including uranium. Japan relied on oil imports to meet about 42% of its energy
needs in 2010. Japan was also the first coal importer in 2010 (about 20% of total world coal import),
and the first natural gas importer (12.1% of world total gas import).
With 54 active nuclear power generating reactor units in 2009, that year Japan ranked third in the
world in that respect, after the United States (104 reactors)

The Bubble Economy. The Direct Cause Of The Japanese Banking
The Bubble Economy
The direct cause of the Japanese banking crisis was the collapse of the asset price bubble during the
late 1980s to the early 1990s.
During 1980s, sustained economic growth and low inflation rate were the main characteristics of
macroeconomic environment in Japan. This condition caused the upward growth expectations of
asset prices, uncontrolled credit expansion and financial deregulation.
At the same period, the United States has a substantial increase in the current account deficit and a
sharp increase in the foreign trade deficit. In order to depreciate the U.S. dollar by intervening in
currency markets, five countries including France, West Germany, Japan, the United States and the
United Kingdom signed the Plaza ... Show more content on Helpwriting.net ...
At the same time, these financial institutions may loosen their credit standards in order to get higher
loan market share. As a consequence, their lending decisions were based more on collateral
requirements rather than cash–flow analysis. In order to accelerate credit–check procedures for loan
approval, many banks transferred the responsibility for loan–risk evaluation from their credit–
investigation bureaus to less independent monitoring bureaus reporting directly to the banks' sales
divisions.
The second problem is the defects in corporate governance of Japanese banks. First, because of the
structure of bank ownership, few shareholders own the majority of the total shares, most
shareholders have modest control over the management of banks. Second, shareholders lack of
incentive so it is difficult for them to against managements' decisions. Third, the internal and
external audit was very limited.
Besides, the central bank in Japan has also been criticized for its role in aggravating the bubble
economy. The Bank of Japan used expansionary fiscal and monetary policies to solve the fears of
economic depression. After five rounds monetary easing from January 30, 1986 to May 30, 1989,
the official discount rate

Japan And Korea Economic Impact On Global Economy
INTRODUCTION
Japan and Korea are two of the strongest economies of Northeast Asia and have been very important
players in global economy since the start of globalization era. These two economies have major
impact on global economy. Both the economies have experienced various external and internal
challenges. Therefore, it is important that we look at how these economies have been performing
historically, more specifically since 1980s, so that we could get an idea about who might be a more
significant player in the global economy in the future.
History shows that both the economies have experienced high growth rates and crises and both the
economies dealt with implementing various policies. Both the countries responded to the crises in ...
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Japan government was under a huge pressure to recover the economy under a lot of pressure to
improve the economy and was unwilling to force banks to restructure their loans portfolio policy
otherwise can result in the failure of major keiretsus.
Many critics consider that Japan's macroeconomic policies should have been more aggressive and
steady. These policies should have been more flexible in order to recover from great recession.
Conventional measure shows that the fiscal and monetary policies of japan were expansionary.
These policies lowered the interest rates very rapidly. Caballero, Hoshi and Kashyap (2003) stressed
on the zombie firm to explain why lower interest rates and big budgets deficits have not emphasized
the zombie firm explanation and explained why the low interest rates and big budget deficits have
not transformed the economy. The low interest rates had helped to keep the banks alive and boosted
the aggregate demand to some extent due to deficit spending. But none of these policies
concentrated on closing the insolvent banks and getting rid of their zombie borrowers who were
affecting the economy. The government policies also upset the rehabilitation and restructuring. For
example, the government permitted the poorest banks to carry on to attract financing and supported
the insolvent borrowers by constantly delaying the advance of the deposit insurance to limit its
exposure (Hoshi and Kashyap 2004). The regulators also choose not to strictly enforce

Japanese Economy Vs Australian Economy
All economies are trying to solve the same problem; how do we satisfy our unlimited wants with our
limited resources? Since all economies are working to achieve a solution to the same economic
problem, they have resulted in similar economic structures, although this was not always the case.
Therefore, economists must compare economies around the world, such as Japan in order to see and
understand how Australia's economy develops, performs and operates. The advanced Japanese
economy and the largest mixed market economy; the Australian economy have many similarities
and differences in many areas. These include; the distribution of income, environmental
sustainability, economic growth and quality of life, employment rates and the role of the government
in providing healthcare, education and social welfare.
Economic growth and the quality of life
Economic growth is the overall growth of an ... Show more content on Helpwriting.net ...
Japan has a HDI rank of 17th determined by its $US 36,332 GDP per capita whereas Australia's HDI
rank is 2nd and has a GDP per capita of $US 61,219. These rankings and GDPs are determined by
Japans 0.933 HDI, 83.6 age life expectancy and 11.5 mean years of education. Australia's ranking
and GDP are determined by its 0.890 HDI, 82.5 age life expectancy and 12.8 mean years of
education.
Employment and unemployment
There is a general upwards trend in unemployment in Japan, directly contrasting to Australia's
declining unemployment rate. Australia's current unemployment rate is 6.0% and Japans is 3.7%
Employment patterns in Australia show that majority of the population are employed in the services
industries, which include; retail trade, real estate and business services. Similarly Japan, which like
Australia has less than 5% of its workforce employed in agriculture and around 75% in services.
Distribution of

Japan 's Demand For British Based Capital
In the post–Fordist economy, there are few alternative strategies which would mean to rebuild
industry in the concern for British–based capital. The first strategy is 'The Japanisation Strategy'.
"Japan has been the home base for the new production, together with West Germany, Northern Italy
and parts of the Scandinavian economy." (Murray, 1989) The exclusive achievement of Japanese
production industry, regularly at the expenditure of Western manufacturers, has incited this
increased interest. Japan has been depicted as the typical 'post–Fordist' economy. It would require a
long–term finance, and particular government protection policies, research subsidising, and state
funding, that would be connected to the individual industrial ... Show more content on
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"They were 'high technology cottage industries' employing the latest numerically controlled tools."
(Kumar, 1992) Their items were complex and delicate, empowering them to enter in both national
and international markets. Their employees were paid same as employees in the large factories in
the north; unemployment rates were mostly lower than everywhere else in Italy in that period. Most
employees were exceptionally talented, and there was little sense of qualification between workers
and their managers. Brought to the little size of entreprises, this is suitable for a flexible division of
labor and straightened hierarchy systems inside the firm.
In this last section, this essay will examine whether creative workers 'model entrepreneurs' in post–
Fordist economies by looking at immaterial labour and precariousness in the post–Fordist economy.
By the beginning of the 21st century, 'creativity' become very important in our society. After the
election in 1997, the British New Labor government accepted the term 'creative industries' which
covers everything about media and arts–film, design, fashion, advertising, and visual arts etc. The
creative industries areas' profits yielded a great amount. Because of this tendency, there were many
people who want to work in the creative sectors and they thought that it is a 'model job' that will get
the spotlight from other people. Many people thought that post–Fordism is a perfect economy
system after the Fordism era, but there

Why Are East Asian Business Groups so Common?
Why Are Business Groups More Common In East Asia? It is thought that since the early 1960's
business groups have been a vital asset to the industrialization and economic growth of East Asian
Countries. A 'business group' is a group of legally independent firms bound together in a formal or
informal way. They have shown extreme rapid growth throughout East Asia, and have become a
very controversial topic when relating to East Asia's financial development, often being referred to
as "paragons or parasites". There are many proposed features of business groups, both positive and
negative, that have resulted in their rapid formation and substantial growth in Asia. During East
Asia's early economic development, the main capital markets ... Show more content on
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This allows for the act of tunnelling, which is a way of directing company assets and future business
towards core owners so they can retain control over the country's corporate sectors with low cash
flows. Tunnelling methods such as providing low interest rates, selling assets, lowering market
prices, technology licensing and joint ventures, means dominant share holders can have the direct
benefit of using retained earnings for personal gain at a minority shareholders expense, hindering
their development in capital markets. Not only this, but growth has been linked to diversification, a
consequence of expropriation, and its impact on organisational performance. However, this theory is
conflicting because structural characteristics, resulting from family ownership, can decrease the
popularity of business groups in terms of outside investors, and complex company linkages can
relate to inefficient investment, unreliable accounting and possible inadequate managers through
inheritance. The Korean "Chaebol" is an example of a vertically organized pyramidal business group
still controlled by a number of founding families. The Chaebol , contains many well known
successful companies such as Samsung, LG and Hyundai and consists of centralized ownership,

The Leadership Of The Liberal Democratic Party Of Japan
Introduction
While it is a parliamentary democracy, Japan, through 1955 to 1993, maintained a government led
by one party. The leadership of the Liberal Democratic Party of Japan (LDP) closely resembles a
single–party dictatorship, as in Japan's geographically close neighbor, China. In fact, the political
situation in Japan was referred to by Chalmers Johnson as "soft authoritarianism" (quoted in Lim
2014, p.46). However, unlike China, all of Japan's lawmakers were democratically elected to the
National Diet. Under such a system, LDP managed to dominate the Japanese parliament for 38
years. During the 1960s and 1970s, Japan experienced rapid economic development, known as "the
economic miracle," while LDP was continuously in leadership. ... Show more content on
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The nation as a whole seemed to be focused on economic recovery from the ravishes of war, and
achieving annual goals of economic growth, which is well–reflected in their savings rate of over
20% during this era (Kim 2009). LDP's utmost task was to respond to such a national trend with
satisfying economic results in order to maintain the party's dominance in the Diet. The 1955 System
In post–World War II Japan, elected legislators were on a mission to revitalize Japan's war–ravaged
economy. With the outbreak of the Korean War in 1950, demand for production of military
equipment skyrocketed, which ignited an early manufacturing boom in Japan. The US, which had
already been aiding Japan, allowed Japan to assume a role as a major site of manufacturing for the
military equipment it required for its war efforts in East Asia. In turn, Japanese exports increased by
26% (Carpenter 2015, p.47). Even after the Korean War ended, the US continued to give its demand
for military equipments to Japan, to the extent that it "had spent $7.2 billion in offshore
procurements and other military expenditures in Japan" (Lim 2014, p.71). It was tremendously
important for Japan's relationship with the US to remain intact, as it played an essential role in
Japan's economic growth, and enabled Japan to reestablish its "regional economic dominance" (Lim
2014, p.71). For this reason, businesses in Japan, which had been enjoying such an unprecedented

Japanese Automakers in the U.S. Economy Essay
Japanese Automakers in the U.S. Economy Automobiles are the most frequently used form of
transportation in the United States and much of the world. Owning a vehicle is almost a necessity in
modern society. But when you go to buy a new vehicle, you are faced with the question "What
should I buy?" Foreign, most popular being Honda, Toyota and Nissan. Or domestic like Ford, GM
and Chrysler, also known as America's "Big Three." Should we feel guilty walking into a local
Honda dealership to buy a vehicle that is more reliable and efficient than it's American competitor?
Are we obligated to buy an American car simply to help support the economy? Do Japanese
automakers make a negative impact on the automotive ... Show more content on Helpwriting.net ...
Dealerships too, employ tens of thousands of Americans with jobs in sales, maintenance and service.
I can associate with this personally. I worked for Honda as a parts counter professional for two years
and my brother has been an automotive service technician for almost four years now. It's a great
company to work for. Even though Hondas are some of the most popular cars in America, I can
assure you that the other automakers aren't going bankrupt. Foreign cars are simply better suited for
todays youth and marketed accordingly. In a speech in Clevland on March 10, 2004 President Bush
said "About 16,000 Ohioans work for Honda with good, high paying jobs, and that's not counting
the people who work at 165 different Ohio companies that supply Honda with parts and material,"
Bush says "When politics in Washington attack trade for political reasons, they dont mention these
workers, or the 6.4 million other Americans who draw their paychecks from foreign companies."
These foreign owned, American based factories create even more jobs for parts suppliers and service
shops that cateur to japanese cars. Also, the investments made by foreign businesses is raising skill
levels and pressuring many states to set new educational standards in the face of advancing
technology (Pine). To better understand the growing foreign

How Do I Become An R & D Manager? Essay
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Research and development, often called R&D, is a phrase that means different things in different
applications. In the world of business, research and development is the phase in a product 's life that
might be considered the product 's 'conception '. That is, basic science must exist to support the
product 's viability, and if the science is lacking, it must be discovered – this is considered the
research phase. If the science exists,

The Meiji Restoration: A Crucial Moment in the History of...
Japan is considered at this moment one of the most important countries in the world in terms of
political power and the third largest national economy after the United States and China as per the
2011 figures. The development of the Japanese economy to reach such a status happened in time and
especially after the Restoration of the Meji Dynasty in 1868. Since then, Japan was in constant
contact with the western world especially with the United States.
The Meji Restoration was a crucial moment in the history of the Japanese state and its culture
because it provided the historical breakaway from the Shogun period and opened the way to a new
type of modernization, with transformation form the Shogunat to an Empire. This change marked
the end of the feudal period and the beginning of the modern history of Japan. The westernization of
the Japanese state took place as a result of the vivid interest the United States took for the strategic
position of Japan as well as its important assets in terms of economic power and potential. One of
the most important issues was related to the aspects of democracy largely due to the fact that the
Japanese state had been run until that point by a preponderant military leadership in order to
maintain eventual subversive forces under control. This aspect was in contradiction with the way in
which the United States saw the issues of political rule. Therefore, the Meji Constitution came into
force in 1890 and included several new aspects

Analyzing Friedman's Flat
This writer tends to say that the globalization brings not just positive thingas well as something
neutral. And brings out a good entry point to learn the globalization in japan, as he lists several
important period and analysis them. Give some idea to understand toward Friedman's flat and how
japan should be defined as a flat world. During the Meiji period, Japan is isolated, and then the
international trade' power breaks down the situation. It share kind of same idea of Friedman's 1.0
world, At the 1990s, "the combined forces of economic ties, environmental interconnectedness,
technological linkages, cultural flows and political entanglements", as the writer says that all these
power makes japan enter the global world. Another things the ... Show more content on
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Japan fit grow to 1.0 to 3.0 is based on the following situation. First, the Alliance, technically the
alliance with United States. It seems that the japan gain power from the alliance. Japan tries to
recover from the World War II, and starts to think and refine its role, "in the global community as a
responsible stakeholder". From 1945 to 1960. "Japan and the United States revised the security
treaty to upgrade Japan's status in 1960", and it has flourished during that time. From the 1970s to
the end of 1980s, japan become a "systemic supporter". From 1990 to 2005, Japan become an
important part of United Nations and the international affairs to achieve the global peach. And the
next period might continue to 2020, the end of Cold War with United States. In sum of the power of
Japan refers to the author, Japan is acting world–wide scale, but to some extend its power is limited
due to the defeat in World War II and the alliance with United States. These information provide a
nice background to understand how Japan fit into the flat world, and the impacts will run through all
the development. That is why the author says Japan has "a global ordinary power". Japan should
keep the relationship with America and at the same time improve some other power. In addition to
that, Japan is experiencing the increasing competitive power from other Asian countries. "Japan
should be robust in its global reach in terms of market access to resources, technological
cooperation, and official development assistance". The author also give some advices to cope with
the global world based on the situation of Japan. Bi– Bi–Multilateralism, Aggressive Legalism, Sci–
Tech Fundamentalism, Human

Free Trade Has Been A Part Of The Liberal Prescription
Free trade has been a part of the liberal prescription for international relations for a long time where
it is often defined as the economic policy that allows imports from and exports to foreign
jurisdictions. Unlike trading within nation, free trade allows buyers and sellers from separate
economies to trade goods without the domestic government applying tariffs, quotas, subsidies or
prohibitions on their goods and services. Therefore, free trade is often seen as desirable because it
allows customers to get what they need with the lowest price along with the good quality, thus it
promotes economic efficiency for both the nation and its citizen. Free trade is necessary and
desirable due to the division of labor and the primary of the ... Show more content on
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Therefore, due to the division of labor, free trade allows Japan to buy oil for the lowest price, while
Saudi Arabia could buy rice for the lowest price. Using the similar example of English and Portugal
where Portugal produced cheap wine, and English produced cheap cloth, Shimko states that "It is a
division of labor and free trade that allows English and Portuguese consumers to have both good and
cheap wine and cloth" (Shimko, 137). It is, thus, free trade becomes more necessary and desirable
due to the division of labor where free trade promotes the increase in productivity and economic
efficiency.
Furthermore, free trade is desirable due to the primary of the consumer. Shimko portrays the
primary of the consumer through the idea that the consumers should be able to buy what they need
with the lowest price, regardless of where the products are produced. Shimko emphasizes that
everyone is a consumer where free trade is desirable because it makes products cheaper for the
individual consumers, but also benefits the community as a whole. According to Shimko, free trade
benefits both the individual consumes and the community where it leaves the consumers more
money to buy other things which directly helps to increase economic efficiency within the
community/nation (Shimko, 138). For example, because of free trade, Mr. A is able to buy the coffee
he wants at the cheapest price. Mr. A, then, is left with more

The Importance Of Nation-State Policy
Along with the twenty–first century tagged an interconnected and globalized world, consociated by
instantaneous worldwide communication and the free dissemination of information. With this new
era of technology, economic policies of nation–states have become so interdependent that most
nation–state economies would be crippled without their respective international trading partners. As
such, one may wonder if an introspective national policy is appropriate, as argued for by the source.
For example, one may contend that international cooperation inevitably results in unequitable
compromise, with the more powerful nation–states forcing developing countries into partisan trade–
deals. This argument, however, does not take into account the ... Show more content on
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Furthermore, by stating that individuals, in general, do not appreciate others "telling [them] how to
deal with ... the seal hunt", the speaker alludes to the fact that each nation–state understands its own
eccentricities best, and that others cannot empathize because they simply do not have such
resources, such as seals. A nation–state that chooses to remain isolated from the world suffers
technologically. A prominent example of the detrimental effects of isolationism and the beneficial
effects of international trade can be observed through the period and abolition of Sakoku, better
known as the isolationist foreign policy of Japan. During isolation, the Japanese were only scarcely
aware of the technological advances in Western technology. As such, when U.S. Commodore
Matthew Perry's "black ships" arrived, the Japanese were shocked at just how advanced the
technology was, especially in shipbuilding and weaponry. Rather than closing off its borders and
potentially suffering the same fate as China, the Meiji government decided to rapidly Westernize the
nation, in terms of technology and in things like clothing and eating habits, in an attempt to
convince the Western powers that the Japanese were their equals. By the time the Meiji rule
concluded, Japan had a highly educated population and an established and rapidly growing

Analysis: Advantages and Disadvantages of the Development...
The advantages and disadvantages of the developmental state model for achieving development
goals
Introduction
The term developmental state has been widely utilised to describe any state experiencing a period of
economic development and improvement in living standards (Pham, 2012). One of the most
significant arguments in this scope is the performance of developmental state model. A number of
scholars have attempted to investigate this issue and arguments can be divided into three categories.
Proponents of state intervention indicate that the state plays an indispensable role in directing
economic development and utilising the resources of the country to achieve development goals. On
the contrary, those who oppose state–led model argue ... Show more content on Helpwriting.net ...
Characteristics of a developmental state
In order to understand the term 'developmental state', it is necessary to focus on a number of
characteristics of a developmental state. Summaries can be referred to the main empirical findings
of previous literatures such as Öniş (1991), Wade (1992), Polidano (2001), Huff et al. (2001), Kenny
and Williams (2001), and Beeson (2014). Generally, its main factors could be summarised in the
following ways:
The developmental state gives priority to economic growth rather than political reform. It is of
strong ambition to develop economy;
Private enterprise and business are under the state's guidance. It does not mean that state replaces
private ownerships directly, however, it seeks to intervene and guide private sectors according to
national strategies;
The developmental state has a strong and active central government. Policy instruments are
formulated by a small group of qualified elites in economic policy bureaucracy;
The economic policy bureaucracy consists of a political network which offers sufficient space in
initiative–taking and effective operation;
Economic nationalism is one of the characteristics, which has been observed in successful
developmental states.
The developmental state generally places strong emphasis on technical education and the

Economic And Economic Development Of The United States,...
The objectives for this newly developed capitalist society are to establish sustainable high rates of
growth and a robust middle class. In order to achieve this there must be an effective government
institutions, economic policies, laws, and to establish the role of the worker. If these objectives are
not achieved then the newly developed nation is in danger. Due to this it is essential to analyze the
great nations of our time such as the United States, Germany, Great Britain and Japan. One must see
what they have achieved and what have they failed to accomplish, it will give us a clear indication
in which route to take.
As the newly appointed economic minister of the newly formed nation it would be essential for me
to establish a ... Show more content on Helpwriting.net ...
On the contrary employment, fluctuations in output and short term goals are all built in the inflation
targeting goal. Also targeting policy is a very flexible approach to monetary since every source of
information is used to create an appropriate objective to achieve the inflation target. If price stability
is achieved then other monetary goals such as maximum employment can be achieved. The risk of
letting inflation to get out of hand would cause the average level of prices to change daily, which
alters the information being conveyed by the prices of goods and services. As a result economic
decision making will be complicated for consumer, business, and the government which would
throw the economic system into a chaos. If the economy is in chaos then there will not be an
opportunity for any form of growth. In many cases were sever inflation occurs it is followed by
political turmoil which can devastate a newly formed democratic nation. Germany experienced this
disaster firsthand during their economic and political turmoil in the years of 1920s to 1935. This is
described in The Deutsche Bank by David A. Moss, "The economic environment was so chaotic that
planning for the future proved almost impossible."(Moss, P.243). If inflation is not dealt with the
cost can be devastating both social and economically. The advantages of an inflation targeting
central bank over a dual mandate central bank are crucial for both sustainable high rates of growth
and a

Long Run Growth Of Viet Nam
Phuong Huynh
Econ 801
Long run Growth in Viet Nam
Abstract
In recent years, Viet Nam has become the fastest growing industry in East Asia, the long run growth
of this country economy can be illustrated in several historical periods. The paper will begin with
the historical time before and after the Economic liberalization _ Doi Moi in 1986.The the study will
focus on the time when Viet Nam joining the World Trade Organization (WTO) at 2007 and finally
is the performance of government in recent years.
The Back Ground of Viet Nam Economy
Viet Nam is a growing and transforming economy, the country is in the group of the highest growth
rates countries in the world. The country has succeeded in maintaining an average growth ... Show
more content on Helpwriting.net ...
Historical Events in Economic Growth
The Hồng Bàng period, likewise called the Hồng Bàng Dynasty, was a period in Viet Namese
history crossing from the political union in 2879 BC of numerous tribes of the northern Red River
Valley to the victory by A Dương Vuong in 258 BC.
The economy was mostly depend on rice paddy cultivation and crafted works, hunting and
gathering, farming and fishing. Particularly, the aptitude of bronze casting was at high level. The
well–known relics are Đông Sơn Bronze Drums on which delineated house models, fashion,
custom, and social activities of the Hùng period. After this long last time based on farming and
fishing, the country try to implement the policy of specialize the best product in each provinces and
urban areas.
In the mid–19th century, Vietnam 's economy is under the French colonial economy and
protectionism. This is the period when the French invaded Vietnam, this time in Vietnam grew at
only 2.5% to 3%, after the French captured six provinces of South America, growth in South
America this time up to 6%.Vietnam 's growth rate was up about 6% steady. Moreover, the Vietnam
's economy was raised up to 8% in level. Facing pressure world economic crisis in the 30s, Vietnam
's economy declined in a significant amount. However, patriotic revolutionary boomed everywhere
in both the North and

Advantages And Roles Of Micro-Enterprises In Tanzania
had increased from 11.2 million in 1990/91 to 17.8 million in 2001. This implies that 650,000 new
people had been entering the labour market every year, (URT, 2005). Micro–enterprises tend to be
more effective in the utilization of local resources using simple and affordable technology. They also
play a fundamental role in utilizing and adding value to local resources. In Tanzania most micro–
enterprises use local resources and affordable technologies to undertake their activities, these
activities include: Making craftwork e.g. carpentry, pottery, clothes–making/tailoring Small–scale
agricultural activities such as dairy processing, bee keeping, poultry farming and goat keeping Food
preparation and processing such as bakeries, local beer brewing, honey processing, grain milling and
fish smoking. Small–scale mining and processing activities such as tinsmiths and blacksmiths. In
addition, SMEs technologies are easier to acquire, transfer and adopt such that there are better
positioned to satisfy limited demands brought about by small and ... Show more content on
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Nature of SMEs in Tanzania. The MEs in Tanzania are characterized by very low productivity and
lack of capital accumulation; most are self–employed and located at home due to lack of designated
work premises and not linked to modern sector (larger enterprise) because of people's ignorance of
regulations. This means that they do not go through business formalities (which the state imposes)
such as registration, keeping accounts and even paying taxes. Another reason is use of traditional
and inefficient technologies in production. There are micro–enterprises which are seasonal in the
sense that its lifetime depends on situation in other sectors such as agriculture. When there is a good
harvesting period many enterprises of this nature are established and buy grains from farmers for
processing example for local beer making. Some existing documentation support the argument by
saying that micro–enterprises

How Did Ww2 Affect The Japanese Economy
"Burn all, kill all, and steal all." One sentence, an policy, Chinese were suffered a deadly persecution
by Japanese during WWII. Himeta Mitsuyoshi, who was a historian estimated that more than 2.7
million Chinese were killed in Hirohito's "three–alls policy" since December 2, 1938. Even more
than seventy years past since WWII ended, the damage and loss of life caused by the war for both
China and Japan will never be forgotten (Beck).
Since the late 19th century, China and Japan kept clashing constantly. On July 7, 1937, a warfare
had broken out at the Marco Polo Bridge, and most historians regarded this incident as the
beginning of the Second Sino–Japanese War. Short after that, Shanghai and Nanjing, two main cities
of China fell to ... Show more content on Helpwriting.net ...
From 1952 to 1971, their GDP growth in a average is nine point six percent per year. From 1972 to
1991, the economic growth still average annual growth rate of four percent per year. There were
many reasons caused this phenomenon, which were including the starting point of Japanese
economy. The second world war destroyed the Japanese economy, killed millions of people,
destroyed the 40 percent of the Japan's capital stock. Capital return rate was very high, so people
had very strong and the investment and accumulation of more capital, it will naturally increase the
growth rate of the economy. Second, Japan's high rate of investment and capital accumulation
through the domestic savings rate, thus made the country's economic growth (Powell).
All in all, the war led China fall into the bottom and full of hatred between nations. Due to the
impact of World War II, not only for Chinese or Japan, but the whole world. World War II has made
the world go backward. At the same time, countries have realized the danger of war. So there is a
certain effect on the present peace.In addition to the war victory and defeat, more is broken up. In
this world, if we can keep a clean heart, it has been very

Islamic Architecture
Islamic Architecture
in the
UAE
Many cities all over the world are developing to become important urban areas in all respects like
Tokyo, New York and Mumbai. Every city has some reasons for their develop like building
factories, importance of the location and much more. On the other hand there are some cities that
had decline like Detroit, Flint and Cleveland because they only have depended on one resource for
income. Abu Dhabi has grown through its economic vision and it is trying to sustainable its
development through diversification to avoid declining.
Development and growth in cities is shown through some reasons. The strategic location of the city.
For this reason, most major cities are on rivers or at the ... Show more content on Helpwriting.net ...
Abu Dhabi is taking steps to reassess its 2030 economic vision, acknowledging slower economic
and population growth due to the impact of the global financial crisis (Arnold, 2010). The plan is
trying to diversifying the emirates economy away from oil (Arnold, 2010). The idea behind Abu
Dhabi's economic diversification is that if oil prices go down there will be other sources for income
(Kumar, 2011). Abu Dhabi Council for Development declared that Emirate's 2030 strategy will not
degrade oil and gas's importance (Kumar, 2011). Instead it is focusing in which it has traditionally
been strong, like wholesale and retail, international and domestic trade, transport and storage and
tourism (Sekhri, 2010). Also Abu Dhabi had made many projects into petrochemicals, steel and
aluminum sectors and created investor–friendly industrial zones to insure its future growth (Kumar,
2011). The UAE seems unlikely to catch up with the level of economic expansion displayed in the
leading emerging market economies such as China and India, which benefit from bigger populations
and more diversified economies (Arnold, 2010). According to the annual economic report for the
emirate of Abu Dhabi 2010, Abu Dhabi plans to raise the foreign direct investment to 23 per cent of
GDP by 2030 (Kumar, 2011).

Japan 's Foreign Capital Liberalization
INTRODUCTION In the several decades after the Second World War, the foreign countries took
means of the direct investment to Japan, but it present the general trend of the low jumping–off
point and limited progress. At the early period of 50s, there are merely two to three million dollars in
each year's scales. The Japanese government formally revealed a large scale of introducing the
foreign capital once it implemented the first capital liberalization in 1967. During 1981 to 1986, the
total amount invested from foreign countries has reached 42 billion dollars over the period of these 5
years. To compare vertically, years of the investment scale growth tend to rise, but it defer extremely
comparing with whatever the amount that Japan ... Show more content on Helpwriting.net ...
Since 1998, Japan has continuing swung up in three years by drawing the foreign investment and
created its record at an historic high. Two years later, by contrast, the foreign capital rising up to
31.5%, total amount achieved 282.76 billion dollars，incidentally，U.S became the biggest
investor to Japan from that year. In order to figure out the context of economics of Japan and the
roughly prospect of investing japan by the foreign investors at the contemporary era, this paper will
narrate and analyze the following four sections：
1. The major state of development of field of finance in Japan during the last 30 years.
2. The last half–century, the economy history of Japan so far to date since the World War II.
3. Giving the interpretative statement of Japan economics from macro and micro aspects through
integrating the trapped data and materials.
4. Carrying out the entailed general assessment of Japanese economy and offering the outlook for
the outside investors' investment behaviors to Japan.
MAIN BODAY
Postwar Economic Recovery (1946–1955) The second year after the World War II, Japan started
embarking on the economy revival. Due to the country was devastated by long term War, the
production capacity has been fallen sharply, and also resulted by

Disadvantages Of Economic Globalization
Globalization is not a unique phenomenon in the 21st century. What is unique about our experience
of globalization, though, is the accelerated speed in which globalization has propagated. At a
dizzying speed, globalization has left parts of the world more affluent than ever whereas other parts
of the world are still swept in vertigo, unable to fully garner the benefits it offers. Despite current
polarized experiences and the tradeoff between domestic politics and globalization, the overall
results have been sweepingly positive as globalization increases equality and catalyzes the economic
development when combined with the active roles of the states in creating the institutional practices
conducive for growth. Globalization in this context will largely rely upon economic globalization.
Bhagwati's definition is especially useful in determining the premise of economic globalization that
he defines as an "integration of national economies into the international economy through trade,
direct foreign investment (by corporations and multinationals), short–term capital flows,
international flows of workers and humanity generally, and flows of technology" (3). Given the wide
dimensions under economic globalization, quantifying the success or failure may be a challenging
feat but econometric such as GDP growth rate will be a good indicator for the scope of this paper.
Nevertheless, globalization needs not be confined in economic realm but also extends to the spread
of ideas.

Porter
. Porter and National Competitive Advantage
i. Introduction. Suggest answer to the question and outline how to validate your suggested answer
by clarifying the analytical structure ii. Key Questions. Simply: this is not just a question about
Porter. If you are thinking of outlining Porter and little else, please think again. Very briefly state
what the concepts of national competitiveness and the diamond entail, which is naturally connected
to the work of Porter. But the question is asking you to focus on critique. Therefore, what are the
key issues, debates and problems with the ideas about the Competitive Advantage of Nations and the
national diamond? The second half of this synergic question suggests you employ other ideas and a
lot ... Show more content on Helpwriting.net ...
2. Porter explicitly refuses to factor the role of the state in determining the role of competitiveness of
a nation. Porter sees the state as an influencer to the four primary determinants as depicted in
Porter's National Diamond.
Gershenkron Theory of late development makes for this lacuna in Porters diamond. The theory of
Late Development holds that latecomer nations adopt a different pathway to development distinct
from early industrialised nations. Indeed the state can act as a substitute to both demand conditions
and factor conditions.
Japan is a case in point. The government and the bank of Japan Instituted a convoy system where
banks were encouraged to finance large scale capital intensive industries. The banks taking risks to
further the cause of economic development would receive assistance and support if their
investments failed. This has led the Japanese firm to be long termist with a focus on R&D.
Korean Case * Crushed Unions * Encouraged Technology Imports * Technological Imports
Subsidised * Foreign Engineers do not pay tax * Korean Success in Automobile * The Hyundai
Case ....
Role of Government in early Industrialised nations
In 1989 Germany accounted for 11% export of industrialised products. This was partly due to the
role of government in training and education. Germany has a skilled

Japan's Changing Culture Essay
Japan's Changing Culture and the Global Economy: Japan is an Eastern nation that is equivalent to
the United States with regards to her economic status. The country's capitalistic philosophy started
during the Meiji restoration in the late 1860s and was further developed and embedded through the
work of Deming. Throughout its history, Japan is regarded as a religiously and ethnically
standardized society with a feudal past of strong nationalistic and internal allegiances. While the
country falls under the capitalistic side of the capitalism–socialism continuum, her interpretation of
capitalism is not similar to the United States model. Similar to Russia, Japan has mainly been
influenced over the past five decades by national culture and economic ideologies that emphasize
different directions. The nation has an economic ideology that is considered as more individualistic–
focused and a national culture that is increasingly collectivistic–focused (Ralston et. al, n.d.). The
change in Japan's national culture started in the 1990's because of the economic recession that took
place during this period. A new pathway for relationships with others in the conventional Japanese
was introduced by values that emphasized on ethical and high moral values and loyalty. As a result
of the new culture, the conventional ways of business were gradually being substituted by
movements towards individualism among employees. The traditional perception of loyalty and
hard–working salary

The Impact Of Abenomics On The Japanese Economy
Japanese Economy had sturdily hit by recession in proceeds to real estate and banking bubble in end
of 1990s that was usually called Lost Decade in Japan history. Japanese economy has been stressed
to grow up by deflation, GDP and GNP growth. Japan economy has been making strongly efforts to
growth of Nikkei 225 Stock Index average and positive reception of Japanese Yen in international
market.
Mr. Shinzo Abe, The Japanese Prime Minister introduced the large package of policies reform which
is known as the "Abenomics" which comes after the Liberal Democratic Party came back in power
in December 2012. Bank of Japan introduces more aggressive monitory policy in leadership of
Governor Haruhiko Kuroda to in order to ending the 20 years stagnation deflation and recession. ...
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To invigorate the economy, Bank of Japan will inject high amount of money in market to hoping the
higher wage, higher intensives, and higher consumption that would stimulate the spending on
domestic investment. However the statistic show from the time before the Abenomics was
implicated and it is vital to notice that these may not reflect the true target industries for Future

Japan 's World 's Third Largest Economy
Japan is a vital economic power not only in Asia, but the world as well. It is currently the world's
third largest economy, previously in second place, behind America and China respectively
(GlobalEdge). Like many other countries within the Pacific, Japan is a part of APEC (Asian–Pacific
Economic Cooperation). This is a forum that "works towards a higher standard of living...through
sustainable economic growth."(APEC, GlobalEdge). Despite the fact of how comfortable/well–off
Japan seems, they are currently facing multiple issues within their economy and societal factors.
One major issue Japan is facing today involves their declining population, and the quick growth of
the older generation. The current population growth rate is at –0.163%, and it is expected to
continuously drop over time. This factor negatively affects Japan's work force/labor pool, seeing as
how there is a larger amount of elderly people compared to younger ones that should be working.
Japan's labor force in total is estimated at 65 million people (GlobalEdge), which is a little over half
of the population (127 million). Their unemployment rate is at 3.4% (OECD), which is relatively
good compared to America's 5.5% (U.S. Bureau). This rate is also much lower than the rates in 2011
when unemployment was at 4.50% (Japan Unemployment.).
Japan is a developed country that has a high income: OECD (World Bank), it is also ranked 4th out
of 193 countries based on its GDP. Its current GDP, PPP "at market price" in US$

Essay on The Decline of American Economics
There is no doubt that the only surviving socio–economic system prevailing is the free economy
system which generated fast economic growth and prosperity albeit often ignoring social injustices
along the way. This capitalistic system was born in Europe in the middle ages replacing feudalism
when private concerns were generating surpluses and were ready to re–invest same thus spurring
economic growth, albeit erratically.
In the 18th century a Scottish moral philosopher, Adam Smith became the pioneer of political
economy and advocated for the "free market" and "the invisible hand" concepts while Ethics and
Moral philosophy, a subject he taught at Edinburgh University were essential built–in ingredients in
this new ideology.
In the first ... Show more content on Helpwriting.net ...
Major private financial institutions in the USA, Japan and Europe ended–up in the hands of such
executives who were thus in no violation of any legislation but were in fact acting greedily and
unethically, betraying the confidence of their customers. The border line between the laws and the
Ethics were lost.
What has happened in USA in 2008 is a magnified repetition of what has happened in Japan 10
years ago when the Japanese government spent around 500 billions dollars collected from
hardworking, tax paying citizens to clean the mess of irresponsible executives. Europeans, normally
more conservative than the hi–risk inclined Americans could not resist the temptation of buying
sub–prime structured and well packaged products to make easy money. These financial products
changed hands within USA and then in Europe so many times, justifying undeserved commissions
and diluting responsibilities along the way. The American disease ended–up crossing both the
Atlantic and the Pacific at the speed of light. Globalization of the new financial order preached by
the US ended–up being the globalization of poisonous diseases generated by lack of Ethics and lack
of accountability of businessmen, investment consultants and brokers who never had to answer one

Japan and Globalization
Japan, home of some of the largest multinational technology corporations in the world, has been
influenced in myriad ways through globalization. The effects of globalization on Japan provide
valuable insights into the transformation of Japanese society. Global processes have increased wages
and homelessness, strengthened environmental management programs, shifted governance towards
regionalism, and threatened linguistic diversity in Japan. Numerous studies on Japan's economy
provide both the positive and negative effects of globalization. Nakamura (2013) used Japanese
wage censuses from 1998, 2000, and 2002 to explore the effects of inward and outward foreign
direct investment (FDI) on the wages of Japanese workers in manufacturing ... Show more content
on Helpwriting.net ...
86). Many politicians and economists regard neoliberalism as the key to national economic growth.
Japan's move towards neoliberalism–orientated regionalism follows the current trends of
globalization.
The use of English in Japanese society challenges the traditional view of English as a lingua franca.
Kubota and McKay (2009) investigated the role of English in Hasu (a pseudonym), a small Japanese
community with non–English–speaking immigrants from Brazil, China, Peru, Korea, Thailand, and
other countries, by evaluating the results of a community survey on diversity and interviewing five
Japanese individuals (p. 593). They found that an attachment to English could reinforce the
superiority of native speakers and deprive English learners of their willingness to communicate with
others in other languages (Kubota & McKay, 2009, p. 612). The process of globalization entails the
interconnectedness of people across the world. In this instance, the use of English acts as a boundary
to cultural and linguistic understanding and divides people instead of connecting them together.
Seargeant (2005) finds that the influx of loanwords and the decorative use of English in media and
advertising acts as a boundary between Japan and the world because of its unfamiliar use (p. 318).
Japan has essentially co–opted English and transformed it into a language that native English
speakers find strange. The proliferation of English

Similarities Between American And Japanese Economy
Japan: Tradition, Economy, or Both? Which is best? In Asian societies, customs and traditions play
an important role within many different cultures such as the Chinese, the Japanese, the Indian, & the
Cambodian cultures. In 1998, Nicholas Kristof wrote an article that described Japan's society as too
polite and civilized. Furthermore, Kristof made numerous comparisons between the Japanese
society and the American society. This highlighted many differences between the two societies in
how they do the same tasks but in a different way to achieve a different goal. Altogether, Kristof's
main point was this: would Japan be able to preserve its customs and its traditions if Japan was
looking for new measures to improve its economy or would Japan's customs and traditions be
devoured upon by the effects of increasing globalization for the sake of greater economic growth?
"You mean I lose because I'm polite?" Kristof begins with the story about his son's, Gregory's,
birthday party. All of Gregory's ... Show more content on Helpwriting.net ...
However, after he and his wife went, he said that there was no need for them to be there cheering
their kids on since "there were no blue ribbons, no prizes for the fastest runner, no cheers for the best
basketball shooter, or anything else; instead, every child got a small prize" (para. 3). Comparing
Sports Day at the Japanese kindergarten school to the American kindergarten school, it was very
clear that there lies a big difference in perspective of whether there should be winners or losers in
society. Furthermore, he has stated times when he would sometimes hear traditional Japanese
housewives say something like: "I just want my kid to grow up so as not to be a nuisance to other
people" (para.

Assess whether or not the changes in the structure of the...
Assess whether or not the changes in the structure of the UK industry have been beneficial for the
economy, industries and the consumer.
Over the past 30 years the structure of the UK economy has been transformed. By this I mean there
has been changes in the production and employment between the primary, secondary and tertiary
sectors.
In 1964, 1,201,000 people were employed in the primary sector. By 1995 there were only 383,000
people employed in the primary sector. This shows a decrease of 818,000 employees over 31 years.
This was mainly due to a contraction of output in the coal mining industries, and the collapse of oil
prices in 1986, further contributing toward the declining industry.
The second change in the ... Show more content on Helpwriting.net ...
Due to this limited availability there was a sharp increase in price, causing the demand to fall, and
the demand for substitutes to increase. As a result there was a decline in output and employment. A
prime example is steel, the substitute being aluminium. International competition had a dramatic
affect on UK structure.
Changing consumer tastes, the creation of new products and the changing comparative costs result
in the redistribution of economic activity around the world. For example the Japanese were able to
produce more reliable motorcycles at a cheaper cost and therefore there was a decline in the UK
motorcycle industry, because Japan had a comparative advantage.
The membership of the EU meant some inevitable restructuring of the UK economy, in accordance
with European comparative advantages, as there were no trade restrictions within the EU (free trade,
no import duties). This lead to an increase in economic activity in the tertiary sector for the UK,
where it has a comparative advantage in banking and finance, (due to specialisation).
The maturity argument states that our changing economic structure simply reflects the changing
pattern of demand that follows from economic development. This statement argues that consumer
demand in a mature economy such as the UK shifts away from goods and towards services. The
capital stock in the UK grew more

State Business Relations During The Postwar Period
Sarah Tai
IR 520 The State and Public Purpose in Asia
Professor Grimes
1 May, 2015
State–Business Relations in Japan in the Postwar Period In the economic history of contemporary
Asia, governments in many countries have played very important role to lead economic
developments of their nations. The rapid economic growth of Japan after the Second World War has
been widely acknowledged and is dubbed as "the Economic Miracle." Some theorists attempt to
explain this economic phenomenon with Japan's geography, international involvement, historical
experiences and contemporary experiences. Some theorists focus on the role of the state as the major
actor to drive and direct economic success. Recently, many studies and concepts have been ... Show
more content on Helpwriting.net ...
The state has power and autonomy to manipulate and achieve the goals it consciously set.
Consequently, the developmental state is influential in economic and national development, and
marks as a distinctive feature in Asian experience. In every other country, the state has to constantly
work with a number of private groups, particularly big businesses, political group and labor unions.
In order to implement industrial and economic policies efficiently and effectively, the state has to
put them under its control and ensure they all work towards the same direction. Therefore, in reality,
the state has to maintain and legitimize its power and autonomy over different spheres of a society.
By imposing influences or putting pressure on business groups who have substantial financial power
and economic status, the state can achieve its goals. Thus, the state–business relation is a
controversial factor in pushing economic development. In this paper, the state of Japan and its
domestic big businesses will be the main focus for the analysis of economic development in postwar
Japan. The paper serves to explore the phenomenon of and the reasons for the economic growth of
Japan in the postwar period as the state became committed to pursuing economic development when
the big businesses grew and contributed to a large portion of GNP and national wealth. This paper
will raise the following research questions: What is the state–business relation in Japan? How was

Monetary Policy Adopted On Bubble Economy Period Of...
The topic of this dissertation is to discuss the monetary policy adopted in bubble economy period of
Japanese. As Japanese economics is a specific example around the world. The Japanese government
adopted many effective ways to revitalize the economy with the result that its economy rose
abruptly after the World war II. However, because Japan entered a liquidity trap around 1990s, and
experienced a "Lost Decade" (Hiyashi and Prescott, 2002), the government experienced many
economic problems such as of slow growth, deflation, and continues nethermore output (Daniel,
2009) In this dissertation, the following parts will be given: Literature review, data description, test
result discussion and conclusion.
Briefly speaking, the literature ... Show more content on Helpwriting.net ...
Finally, a conclusion will be provided at the end of this section. At the end of this dissertation, there
is a final conclusion will be given, the conclusion will cover the reason whether the monetary policy
adopted by Bank of Japan was wrong. It will also give some suggestions about the monetary policy
according to Japan's economy.
In general, the point of this dissertation is to focus on the monetary policy of Japan during bubble
economy period and to identify whether Bank of Japan did right or wrong in such period.
Literature Review
The background of Japanese Monetary policy in Bubble economy period
As Walsh (2003) said that, 'a social loss function dependent on inflation and output gap is the
appropriate objective of monetary policy' which indicates that the level of inflation and output are
the major factors that affect monetary policy of all countries. Moreover, Castelnuovo and Surico
(2010) claimed that inflation are the key elements to decided a monetary policy for a county. For the
Japan economy, it experienced a disaster during the period 1986–1991, which named Japanese asset
price bubble (Wood, Christopher, 2005). It leaded a long term economic depression japan after that.
The main reason for the bubble economy is the extremely high inflation rate and output. As
mentioned before, Japan was sustained a rapid development after world war II, the main industry of
Japan is manufacturing industry. After the Plaza Accord

Jap A Economic Power
Japan, to this day, is a major economic power that has major influence on the rest of the world. It is
a nuclear state, and has a GDP of almost 5 trillion USD. Japan wasn't just like this and has gone
through a tremendous period of growth after World War II in 1945. Since then, its economy has
grown through its technological and manufacturing side. When the company was defeated in 1945,
it was in an economic ruin. Everything that came before was in shambles, but little did the country
know there was huge room for growth. (Ohno, 2006)
After Japan was defeated in 1945, Japan was under US occupation. During this time a recovery
strategy was put into place to work with the already in motion political and economic system. The
Japanese entered a period of rapid growth between the years 1950–1970. This growth completely
changed the economy and made Japan one of the best capitalistic economies of its time. Japan was a
major industrialized nation with many new companies coming into power. "This would of not been
possible without Subsidies, fukkin loans and US aid." (Ohno, 2006)The Japanese benifeted from the
war because of its close alliance with America and the fact of letting American troops station in
Japan.
War was actually an important factor of economic growth in Japan. Due to the fact of many factories
and companies being wiped during the war, investments were made to bring better equipment into
the factory so that efficiency was highly prioritized. Ohno puts it, "New

Indonesia in the 1980's
Indonesia's industrialisation policies play an important role in supporting the achievement of high
and sustained economic growth. The move towards export promotion from import substitution in the
mid–1980s succeeded in restructuring the economy from agriculture to semi–industrious.
As a result, the role of industry within the economy has become increasingly important, and whilst it
has been successful within its own sphere of socio–economic prosperity and sustainability, in
relative terms, Indonesia has still been outperformed by the 4 ASIAN tigers. Whilst bold and
decisive redirection of economic policy is effective, if the implementation and execution of new
policies fails to anticipate the demands of a competitive international market, then those policies
will be of significantly less worth in a global context. The fiscal policies of the island group just
north of Australia need to be flexible to allow for a changing, growing market, the pro–active
approach.
Indonesia is the largest economy in South East Asia, primary industry of industry (47%), agriculture
(15%) and a service industry that makes up nearly 40% of the GDP. More than 1,000 islands
totalling almost 2,000,000sq/km make up the largest archipelago in the world. In 2012 the labour
force stood at 120 million, 16 times the population of NSW. So what we have is a top 20 economy
with a huge workforce and natural resources worth 10s of billions a year.
Stepping back to a pre–Suharto Indonesia (for its contextual

The Oil And The Glory Chapter 2 Summary
The chapter by Manabu Shimizu focuses on Japan's efforts in oil exploration and the country's
future goals in the oil industry. Since Japan imports all of its oil, the "challenge is to establish a
long–term, sustainable oil supply" (Shimizu 113). Japan has begun to fund Central Asian oil
exploration in the hopes of a big oil market being produced for that region. However, Japan does not
intend to import oil from Central Asia, rather they want other regions to do import. By doing so,
some of the production pressure is lifted from the Middle East, which is where most of Japan's oil
comes from. At the moment, the Middle East is the main producer of oil for many countries with
great power over the market, and Japan hopes to create another market ... Show more content on
Helpwriting.net ...
Chapter 7 of LeVine's book discusses the Soviet Union and their desire to expand their oil market
into Central Asia. However, western countries like America were also looking to the region for oil.
Levine notes that America was not allowed in one area simply because "the region's petroleum
riches were critical to Moscow's strategic future" (Levine 95). However, Russia needs America's
funding in order to expand its own expeditions, therefore creating an issue for Russia. LeVine
focused more than the previous authors on the actual views of the people in Central Asia. Besides
the bureaucracies of American and Russia, LeVine also discusses the opinion of the companies in
Central Asia. The Kazaks in Kazakhstan were wary of any relations between Central Asia and
Russia, based on other people's experiences with the Soviet Union. The bureaucracy in Central Asia
did not want western countries to come into the region, but they also were unsure of the Soviet
Union's involvement. Unlike Wu and Shimizu, LeVine presents expansion into Central Asia as a
necessity for the Soviet Union while also expressing the positions of the people in Central Asia. All
three of the readings show a need for an oil market in Central Asia, but individually express the

Japanese Economy During The World War
Introduction Since the Second World War, the Japanese economy had experienced remarkable
growth, transforming from a developing to an advanced developed economy in a single generation.
However, on the edge of a three–decade long "Economic Miracle," in the late 1980s, Japan faced its
regrettable "bubble economy" in which asset prices rapidly soared, money supply and credit
underwent sizable increase, and economic activity overheated for a prolonged period (Okina p.396).
At the bubble's peak in 1989, the Japanese stock market obtained a value of around $4 trillion,
reaching the benchmark Nikkei 225 stock average of ¥38,915 (four times the level they had been in
1983) (Siebert p.9). This was approximately 44 percent of the world's equity market capitalization
(Stone p.149). At around similar time frame, Japan also saw a spectacular surge in land prices with
the land values five times that of the United States (Stone p.149). Hence, during this time, the
economy relished an investment and consumption boom to the extent that Japan rapidly became
known as the world's largest creditor country. However, such record growth fell drastically with the
burst of the bubble: the stock market plummeted by over 60 percent from its peak in 1989 to 1992
while speculative land prices fell over 50 percent and essential land prices declined by about 15 to
20 percent (Okina p.397). Overall, the bursting of the bubble resulted in a detrimental decline in
asset prices, the accumulation of enormous

The Liberal Democratic Party
The Liberal Democratic Party has been ruled from 1955 until 2009, and its main goal is supported
the interests of business and economic growth to rebuild a strong nation and economy. The Liberal
Democratic party have achieved great economic success, which allowed it to provide benefits to
large segments of the population. Even though The power of the Liberal Democratic Party LDP
totally fail in 2009, and switch the power to the Democratic Party of Japan DPJ. This happened due
to the 2008–2009 global finical crisis that caused a significant drop in the Japanese income, which
led the voters to see that the LDP as unable to move the country out of this crisis and does not have
the power to make any further change. The Democratic Party of

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