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Institutional Complementarities, Institutional Changes, and Economic Outputs: Japanese Political Economy, 1990-2005.

机译:制度互补性,制度变迁和经济产出:1990-2005年日本政治经济学。

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摘要

The Japanese economy outperformed those of all other OECD countries before 1990 and was outperformed by most after the collapse of the bubble economy in the early 1990s. Japan subsequently implemented extensive institutional changes aiming to abandon its once renowned "Japan model" and to be "more like the US." Such a dramatic reversal of fortunes provides policymakers and social scientists with a rich pool of data that can be analyzed to explore the effect of institutions and institutional changes on economic performance.;This study analyzes the Japanese political economy since the 1990s and examines how and to what extent extensive institutional changes affect economic performance. By extending studies of transitional economies, a "death valley curve of institutional change" is deduced to show that even ideal institutional changes invite loss of institutional complementarities, resulting in serious output fall during periods of transition. Hypotheses are tested against panel data of 70 industries from 1990 to 2005. They are also tested and elaborated through detailed historical analysis.;Results of statistical and historical analyses indicate that political and financial embeddedness to the "Japan model" induced enduring negative industrial outputs. They concurrently show that industries that abandoned the "Japan model" promptly also suffered a decline in industrial outputs. During the quick transition, institutional complementarities were lost. These results illustrate the complex nature of the effect of institutional changes on economic performance and imply the existence of a "death valley curve of institutional change.";These findings advance our understandings of divergent institutional settings across national borders. They can add dynamism to both the legal origins theory in economics and the "varieties of capitalism" framework in comparative politics. If the "death valley curve of institutional change" is deep and wide, the probability of "varieties of capitalism" converging will decline. Japan is still under transition. The future course of the Japanese challenge bears close watching.
机译:在1990年前,日本经济的表现胜过所有其他经合组织国家,在1990年代初泡沫经济崩溃之后,大多数国家的经济表现都优于其他。日本随后进行了广泛的体制改革,旨在放弃其曾经享有盛名的“日本模式”,并“变得更像美国”。如此巨大的命运逆转为决策者和社会科学家提供了丰富的数据库,可以对其进行分析,以探索制度和制度变迁对经济绩效的影响。本研究分析了1990年代以来的日本政治经济,并研究了如何以及如何广泛的制度变化在多大程度上影响了经济绩效。通过扩展对转轨经济的研究,推论出“制度变迁的死亡谷曲线”,表明即使是理想的制度变迁也会导致制度互补性的丧失,从而导致转轨时期的产出严重下降。假设是根据1990年至2005年的70个行业的面板数据进行测试的,并且还通过详细的历史分析进行了测试和阐述。;统计和历史分析的结果表明,对“日本模式”的政治和金融内含性导致持久的负工业产出。他们同时表明,放弃“日本模式”的行业也迅速遭受了工业产出的下降。在快速过渡期间,失去了体制上的互补性。这些结果说明了制度变迁对经济绩效的影响的复杂性质,并暗示着存在“制度变迁的死亡谷曲线”。这些发现促进了我们对跨越国界的不同制度环境的理解。他们可以为经济学的法律起源理论和比较政治的“资本主义多样性”框架增加活力。如果“制度变迁的死亡谷曲线”是深而宽的,“各种资本主义”趋同的可能性将下降。日本仍在转型中。日本挑战的未来之路值得密切关注。

著录项

  • 作者

    Kato, Sota.;

  • 作者单位

    University of Michigan.;

  • 授予单位 University of Michigan.;
  • 学科 Economics General.;Political Science General.;Sociology Public and Social Welfare.
  • 学位 Ph.D.
  • 年度 2011
  • 页码 242 p.
  • 总页数 242
  • 原文格式 PDF
  • 正文语种 eng
  • 中图分类
  • 关键词

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