The distinguishing characteristics of the Japanese economy during the "economic miracle" years included: Governmental contributions[ edit ] The Japanese financial recovery continued even after SCAP departed and the economic boom propelled by the Korean War abated.
But one of the most significant innovations of Japan and the Four Little Dragons is there industrial policy which targets improving specific sectors of the economy by focusing R;D, subsidies, and tax incentives to specific industries that the government wants to promote.
The United States could adopt some of these industrial policies to help foster emerging high tech businesses and help existing U. In Japan the government both during the Meiji period and the post World War II period followed a policy of active, sector selective industrial targeting.
Japan used basically the same model during both historical periods. The Japanese government would focus its tax incentive programs, subsidies, and R;D on what it saw as emerging industries.
The Meiji leaders took taxes levied on agriculture to fund the development of these new industries. Following World War II Japanese industries used this same strategic industrial policy to develop the high-tech, steel, and car industries that Japan is known for today.
Some American industries are currently heavily supported by the government through subsidies and tax breaks to farmers, steel producers, and other industries that have been hurt by foreign competition because they are predominantly low-tech industries.
But this economic policy of the U.
The existing economic policy of the United States fails to help high tech businesses develop a competitive advantage on the world market instead it stagnates innovation by providing incentives primarily to existing business.
The structure of U. Second, it is difficult for a government to select which sectors of the economy it will target. But despite these obstacles the U. In the coming years the U.The argument of this essay has been that Japanese firms led the Japanese economy to and through the economic miracle period in part by successfully compensating for what in western economics would be regarded as significant inefficiencies.
Postwar Japanese economic takeoff was due to a variety of factors that had to do with American policies toward Japan, the international market, social mobilization, existent industrial capacities and experience, and government policies and . Free coursework on Lessons Of The Japanese Economic Miracle For The West from monstermanfilm.com, the UK essays company for essay, dissertation and coursework writing.
Japan’s Economic Miracle: Underlying Factors and Strategies for the Growth production and marked the beginning of the economic miracle.
The ability of the Japanese people to imitate and apply the knowledge and skill Occupation of Japan Since Japan was in need for help to reconstruct its economy, the Allied Powers. Published: Mon, 5 Dec The extraordinary economic growth and development of East Asian over the last four decades has been remarkable to world.
|JAPAN IN THE s, 60s AND 70s UNDER YOSHIDA, IKEDA, SATO AND TANAKA | Facts and Details||The distinguishing characteristics of the Japanese economy during the "economic miracle" years included:|
|Essay Sample - Lessons of the Japanese Economic Miracle - OzEssay||Left-wing organizations, such as the Japan Socialist Party and the Japan Communist Party, quickly reestablished themselves, as did various conservative parties.|
|Lessons of the Japanese Economic Miracle - monstermanfilm.com||The reasons for this include high rates of both personal savings and private sector facilities investment, a labor force with a strong work ethic, an ample supply of cheap oil, innovative technology, and effective government intervention in private-sector industries. Between andthe percentage of Japanese living in cities rose from 38 percent to 72 percent, swelling the industrial work force.|
Such as the East Asian Miracle suggested that (World Bank, ), it is a “Miracle”. The post-war Japanese political scene was characterized by a domination of the Liberal Democratic Party (LDP), fights and shoving matches in the Diet (the Japanese parliament), and a debate between left-wingers proud of Japan's pacifist status and right-wingers who wanted Japan to be an economic superpower and regain its military strength.