Chapter

The Government‐Firm Relationship in Postwar Japanese Economic Recovery: Resolving the Coordination Failure by Coordination in Industrial Rationalization

Tetsuji Okazaki

in The Role of Government in East Asian Economic Development

Published in print August 1998 | ISBN: 9780198294917
Published online January 2007 | e-ISBN: 9780191715501 | DOI: https://dx.doi.org/10.1093/acprof:oso/9780198294917.003.0003
 The Government‐Firm Relationship in Postwar Japanese Economic Recovery: Resolving the Coordination Failure by Coordination in Industrial Rationalization

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This chapter describes the workings of a government-sponsored Council for Industrial Rationalization for resolving particular investment coordination problems facing Japan in the postwar economic recovery period. The newly formed market economy was faced with serious coordination failure due to complementarity among industries, economics of scale, and incomplete information. The Ministry of International Trade and Industry intended to coordinate the coordination failure by an industrial rationalization policy.

Keywords: Council for Industrial Rationalization; postwar economy; market economy; private enterprises

Chapter.  10597 words.  Illustrated.

Subjects: Business and Management

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