Japanese Miracle

Japanese Miracle

A term for the remarkable economic growth Japan experienced after its devastation in World War II. The growth is credited to a combination of American investment immediately after the war and government regulation of the economy. The Japanese government restricted imports and promoted exports. Meanwhile, the Bank of Japan lent vast amounts to companies to stimulate private investment. This combined with a close relationship between corporate executives and bureaucrats allowed the government to pick winners successfully. The Miracle lasted until the Japanese financial crisis, which started in 1991.
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But the Japanese miracle was a product of the joint effort of unions and industry, made possible by the system of collective bargaining and social dialogue.
America and the Japanese Miracle: The Cold War Context of Japan's Postwar Economic Revival, 1950-1960.
In short, CPEC is the backbone of Pakistan's economy and Pakistanis are determined that the Indus River miracle will take place like the Yellow River miracle, Han River miracle, and Japanese miracle.
The analysis that we propose is focused on explaining the specific economic context of Japan, in the post-war years, the causes of so called "Japanese miracle" and the controversial theory of "Japan's lost decades".
The "developmental state model" discussed by Chalmers Johnson (MITI and the Japanese Miracle: The Growth of Industrial Policy, 1925-1975, Standford University Press, 1982) is a famous depiction of the MITI industrial policy during the high-growth era.
Capital as will and imagination; Schumpeter's guide to the postwar Japanese miracle.
Five years after planting the seeds of the Japanese miracle, the Americans extended Gen MacArthur's mandate to cover Taiwan; and so the kind general and his staff arrived in Taipei not long after the Chinese general, Chiang Kai-shek, and his nationalists had left mainland China after their defeat by the communists in 1949, and fled to the island then called Formosa.
With the Japanese miracle soaring, powerful prime minister Kakuei Tanaka determined to rebalance political power.
(i) The data shows, at least the granger causality test, that the great GDP growth of Japan in the post war years was caused by the rise in the capital accumulation, and off course by other factors, but the important conclusion is that the capital accumulation takes a protagonist role in the analysis of the "Japanese miracle".
It was then that America's commitment to the security and stability of Japan, along with the Japanese peoples' spirit of resilience and industriousness, led to what's been called ''the Japanese miracle'' -- a period of economic growth that was faster and more robust than anything the world had seen for some time.
The great Japanese miracle subsided into a decade of stagnation.
Then the so called Japanese Miracle disappeared, and Sound fish began losing value.

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