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Lecture

2011-03-01_Lecture #7-Japan’s post war political and economic Development.docx

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Department
Political Science
Course
POL215Y1
Professor
Lynette Ong
Semester
Winter

Description
Ernie Tam 20120301 Lecture 7Japans post war political and economic DevelopmentPost war economic miracle Developmental state are all important concepts One party rule o Liberal Democratic Partys powerhouseThroughout its 40 years the LDP have dominated the political scene We will be looking at their powerbase o Electoral systemo Patronclient relationship and its impact on corruption Japans lost decade Why cant Japan reformo Given you are a developed country there is no growth in economyGDP growth rate Averaged 810 in the 1960s and oil prices were growing as well Since the 1990s on wards there is no growth lost decade Is there an inherent political explanation for its slow growth rate Another peculiar thing about Japans politics is that Japan has a new prime minister every year 1516 monthso Shows from 1948 the prime minister and the party that they belong to have been consistently Liberal Democrat How can government carry out its policies when government keeps changingo Bureaucrats run the show meritocratic society Japans economy was only 7 of US economy in 1955 20 years later it has become 13 of US economyo In addition to rapid economic growth Japan had gained equitable distributable salary The gap between rich and poor was lowo High education attainment level and long life expectancy Developmental state came from Japan and subsequently copied by SK Taiwan Singapore and by China to some extent o Meritocratic bureaucratic such as ministry of finance have been fundamental to develop industrial policyIndustrial Policy Distorting the rules of the game to favor specific industries Allocating the countrys scare resources such as land loans physical subsidies tax policies export etcto some specific targeted industryWhat industries were targeted o High tech industries automobile renewable energyo Protecting domestic companies through domestic guidelines Some successful Japanese companies suggest that Sony Honda were denied any assistance by Japanese government in the 1960s
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