Japan today is caught up in chronic economic crisis, its financial system wracked by record-breaking bankruptcies and its companies hobbled by bad balance sheets, overproduction, and weak consumer demand. In turn, Japan's faltering fortunes have sent shock waves across Asia, triggering the collapse of economies in South Korea, Thailand, and other Asian countries that followed its model for rapid growth and development. While a growing chorus of Japanese politicians, business leaders, and economic analysts blame the current troubles on the misguided policies of Japan's Ministry of Finance, the root of Japan's malaise lies more fundamentally in the contradictory relationship that first made it an economic powerhouse: the combination of businesses that aggressively compete for profits in the best tradition of free enterprise with a government bureaucracy that controls the economy with a heavy thicket of regulation and guidance. And so far, despite ringing declarations of reform, the entrenched bureaucracy shows little willingness -- or ability -- to make the significant reforms that Japan (and its Asian economic disciples) needs to recover. In this book, a cross-section of Japanese, American, and European journalists and authorities in the business, political, and economic sectors examine the problems caused by over-regulation, and offer solutions for reshaping the Japanese marketplace. In Part One, former Japanese Prime Minister Yasuhiro Nakasone, Vice Minister of Finance Eisuke Sakakibara, and some of America's and Japan's leading experts on the Japanese economy map out the long road to regulatory reform. They analyze the postwar origins of today's bureaucracy, current attitudes toward regulation among politicians and the public, and the changes in both policymaking and mind set that must occur to achieve true reform. Part Two focuses on the effects of over-regulation, using illuminating case studies involving Japan's financial system, insurance markets, non

Within a few short months in 1997, Asian economies that had been considered not only healthy but "miraculous" suddenly fell off a precipice as investors withdrew massively first from Asian currencies and, in rapid order, from equity markets across the region. On October 27 1997, the turmoil in Asian markets spooked Wall Street in the largest single-day decline in history, a drop of 550 points. It was predicted that the Asian crash could drive the US trade deficit from $191 billion to $300 billion by 1998, creating huge new tensions in relations with some of the largest US trading partners. These wrenching changes, following a generation of success, raise numerous questions about the steps that led to the crisis, its likely outcome and the limits and constraints of "Asian capitalism". Edith Terry presents a blow-by-blow account of the crisis, beginning with the 1996 collapse of the Bangkok Bank of Commerce. In her overview, she links the fall of the Asian miracle with the theme of globalization, arguing that the crisis demonstrates the urgency of dismantling restraints to trade, investment, and financial services, and that the United States should take leadership in pushing for new and sweeping reform through the World Trade Organization and in bilateral negotiations with its trading partners. The final section of the book deals with the rise of the "Asian miracle" - how the myth was created, who created it, why it succeeded for so long - and is informed by analysis of the Japanese prototype.

Explores how political actors engage in patronage practices across a rich variety of regime types in Asia.

In the wake of worldwide economic turmoil and efforts toward recovery, understanding the interdependence of government and business is more important than ever. In this thoroughly updated edition, Lehne takes a comparative approach, evaluating the U.S. political economy with respect to those of Great Britain, Germany, Japan, and the EU. The book provides detailed historical context for, and a conceptual understanding of, the business-government environment, and then clarifies the roles of the major actors and outlines the regulatory and policy frameworks. Along the way, Lehne probes some of the most crucial dilemmas facing government and business today. Updates to this edition include: • expanded coverage of ethics as it relates to government and business; • greater attention to China in particular in the feature boxes on developing nations; and • a look at relations between government and business at the subnational level. A comprehensive glossary and chapter summaries enhance student learning.

The long postwar economic boom in Japan ended in the early 1990s. Since then, the Japanese economy has stagnated and a series of reforms have failed to initiate economic growth. S. Javed Maswood focuses on the period after the Asian Crisis and looks at the measures that have been taken to revitalize the banking sector and to overcome regulatory and administrative impediments to economic growth. Including analysis of the latest data from Japan, this is an important study of Japan's political economy and the implications of Japan's economic slowdown for regional and global economic prosperity.

This innovative Handbook puts the politics of public administration at the forefront, providing comprehensive insights and comparative perspectives of the different aspects of the field.

Traditionally, development has been rooted in ideologies and assumptions prevalent in the developed world and in practices and strategies adopted by leading industrial nations. However, historically, eclectic ideas and approaches often clash with existing long-established notions of progress and modes of realizing social and economic change. Managing Development in a Globalized World: Concepts, Processes, Institutions explores this topic by incorporating ideas and interpretations that have previously been neglected or given inadequate attention in the discourse on developing countries. It underscores development as a continuous process that must be supported by sound policies and efficient management, supplying a wider understanding of the field. The authors argue that the application of innovative development techniques and best practices is essential for obtaining optimum results in meeting the needs of society. They examine the style of managing development with a new perspective that links the phenomenon with changing demands and the interplay of internal/external actors and a host of stakeholders. An exploration of key sectors in development provides clear comprehension of problems and solutions. A careful synthesis of theoretical/conceptual and empirical literature, the book assesses real-world situations and provides insight into the operational dynamics of development policies, programs, and institutions. It focuses on goals, values, and dynamics of development management that are undergoing rapid changes and continue to be enhanced to alleviate poverty and improve living standards in an era of globalization and inter-regional and inter-institutional synergies. It highlights best practices essential for the efficient and effective delivery of human development services that are designed and put in place to obtain optimum results in meeting the needs of society.

In 1996, the Japanese government introduced a policy package initiating massive deregulation and liberalization in the nation's financial sector, referred to as Japan's financial 'Big Bang.' This book argues that the emergence of the Big Bang Initiative poses numerous challenges to conventional interpretations of Japanese politics and represents a clear case of institutional change in Japanese finance. Whereas many observers stress continuity in Japanese politics, this book argues that the emergence in the 1990s of performance failures and scandals attributed to the bureaucracy, as well as the increase in the likelihood of a change in government in this period, led policymaking patterns surrounding the Big Bang to differ radically from those dominating public policymaking in the past. These developments led to change in the nature of the alliance between the ruling Liberal Democratic Party (LDP) and the Ministry of Finance (MOF), to a shift in priorities within the MOF, and to a heightened role for the public in policymaking. The result was that the MOF, long perceived as 'entrenched' and seeking to maximize tangible tokens of organizational power, became more than willing to launch the Big Bang, despite the fact that these reforms would strip the ministry of many of its regulatory tools and sever the ministry's close ties with the financial sector. The book also argues that these new developments prevented financial industry actors from forestalling these reforms, as they had done in the past with other reforms similarly threatening the viability of weaker firms. The findings reveal that not only politicians, but also bureaucrats and interest groups, have reasons to pursue public support to enhance their respective political influence. Consequently, well-organized groups do not always prevail over the unorganized public.

The book is about new dynamic forces that are driving change in Japan. It is developed around two key concepts of civil society and social capital. The focus is on pathways to Japan's social renewal that promotes stronger communities and more participatory citizenship beyond the reach of economic growth.