The Ministry of Finance: Bureaucratic Practices and the Transformation of the Japanese Economy
Publication Date
1999
Document Type
Book
Organizational Units
Sturm College of Law
Keywords
Finance, Japan, Economy, Bureaucracy, Competition
Abstract
"Japan's economy, once the envy of the world, has recently experienced a period of malaise and stagnation. This is due in part to over-regulation and resistance to change within the Japanese bureaucracy. Many argue that this bureaucracy must be replaced with a system similar to that in the United States, involving ruthless competition, fluid job markets unhindered by notions of lifetime employment, tolerance of business failures, and the elevation of conflict over consensus in economic decision making. The author argues that not only will the bureaucracy, in the form of the Ministry of Finance, retain its position, it will also evolve to be more consistent with the transformed economic system allowing the Japanese economy to recover and retain its important role in the global economy.
The book details the history of the Ministry of Finance and Japan's financial markets since World War II. It describes the economic crisis in Asia and Japan's attempts to transform its bureaucracy to better compete in the global arena. Economists, business practitioners, trade specialists, and anyone interested in Japan's role in the world economy will find this lucid and detailed book an invaluable resource."
Copyright Date
1999
Copyright Statement / License for Reuse
All Rights Reserved.
Publication Statement
Copyright is held by the author. User is responsible for all copyright compliance.
Recommended Citation
J. Robert Brown Jr., The Ministry of Finance: Bureaucratic Practices and the Transformation of the Japanese Economy (1999).