Chapter

How do Systems Change?

Tetsuro Toya and Jennifer Amyx

in The Political Economy of the Japanese Financial Big Bang

Published in print March 2006 | ISBN: 9780199292394
Published online May 2006 | e-ISBN: 9780191603525 | DOI: http://dx.doi.org/10.1093/0199292396.003.0003
 How do Systems Change?

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This chapter has two main objectives. First, it introduces the theoretical frameworks of institutional change and organizational survival to be utilized in later chapters to make sense of the development in financial politics. Second, it constructs possible scenarios regarding financial reforms by identifying the actors and deriving their preferences based on observed behavioral regularities. It shows how the starting assumption — that organizations seek survival — applies more broadly to actors in the political economy. These actors include political parties, bureaucratic agencies, firms, and interest groups. Through this process, the institutions in Japanese finance (the Convoy) and public policymaking (bureaupluralism) that prevailed until the first half of the 1990s are identified.

Keywords: Japan; institutional change; financial politics; bureaupluralism; finance

Chapter.  23140 words.  Illustrated.

Subjects: Business and Management

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