We find that Japan's per capita gross domestic product (GDP) grew much faster than the synthetic Japan's from 1958 to 1968. 0Royal Economic Society 1999. READ PAPER. © 1976 Brookings Institution Press  The 58 monthS period of sustained growth between November 1965 and July 1970 is known as the “Izanagi” boom. The Main Bank System and its Role in the Japanese Economic Miracle. Economic growth requires genuine capital accumulation, i.e., the construction of an enlarged capital structure by saving and investing. A period of strong economic expansion known as the "Asian Miracle" ensued, characterized by a "flying geese" pattern of development. Economic Policy in Postwar Japan: Growth Versus Economic Democracy. Japan's Economic Miracle: Underlying Factors and Strategies for the Growth @inproceedings{Takada1999JapansEM, title={Japan's Economic Miracle: Underlying Factors and Strategies for the Growth}, author={M. Takada}, year={1999} } M. Takada; Published 1999; Economics; 3 Introduction 4-5 Impact of WWII 5 Major Problems 5-6 Occupation of Japan 6-10 From Reform to … You are currently offline. With a personal account, you can read up to 100 articles each month for free. The Japanese Economy during the Era of High Economic Growth Retrospect and Evaluation Akira SADAHIRO* JUNE 1, 1991 * The Director of the Department of Research Cooperation, Economic Research Institute, Economic Planning Agency, government of Japan This paper was written under the project entitled "LDC Development Strategies with Reference to Japan's Experience". Download Free PDF. Although MITI was not the only important agent affecting the economy, nor was the state as a whole always predominant, I do not want to be overly modest about the importance of this subject. 487 + xxvi. Japanese Miracle: Review Article of Chalmers Johnson MITI and the Japanese Miracle: The Growth of Industrial Policy, 1925-75 Tyabji, Nasir April 1984 Online at https://mpra.ub.uni-muenchen.de/79061/ MPRA Paper No. The Japanese Economic miracle happened in four stages: The Recovery, The High Increase, The Steady Increase, and The Low Increase Phase. During the economic boom, Japan rapidly became the world's second largest economy (after the United States). The Japanese population is mainly made up of old people due to a low birth rate, therefore, raising concerns about the future of Japan’s workforce. "Japanese" miracle has taken place, and denies those explanations of Japan's very high growth rate which are broadly based on a peculiarly Japanese culture, or on the efficient functioning of the freely operating capitalist market, or on a unique system of relationship between Japanese Economic Miracle 1 At the end of World War II Japan's economy was 1. weak. Japanese per capita Gross National In the early 1980s, Japanese 'economic miracle' by Ramtanu Maitra According to the latest report of the Keizei Koho Center (Japan'Institute for Social and Economic Affairs), Japan i99i-An international Comparison, the gap in per capita income between Japan and the United States has widened further in favor of Japan. Berkeley: University of California Press, 1993. xvii. 2 In the early 1950s Japan's economy was 1. damaged by the Korean War. BIRTH OF JAPANESE ECONOMIC MIRACLE In this time the unemployment rate was low. The goal of the Institution's 37 Full PDFs related to this paper. JSTOR is part of ITHAKA, a not-for-profit organization helping the academic community use digital technologies to preserve the scholarly record and to advance research and teaching in sustainable ways. Japan’s Economic Miracle: Underlying Factors and Strategies for the Growth Introduction Japan’s reconstruction of its nation to become the great economic power in less than forty years after the defeat of World War II has been a somewhat remarkable exception in modern economic history. The Japanese economic miracle is known as Japan 's record period of economic growth between the post- World War II era to the end of the Cold War. The miracle of Japanese Economy after the Second World War (WW2) June 2019; DOI: 10.13140/RG.2.2.10191.53925. Japanese 'economic miracle' by Ramtanu Maitra According to the latest report of the Keizei Koho Center (Japan'Institute for Social and Economic Affairs), Japan i99i-An international Comparison, the gap in per capita income between Japan and the United States has widened further in favor of Japan. 2. not affected by the Korean War. Known as the “ Izanagi ” boom for a period of sustained growth between November 1965 and July is! 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