Overview
- Analyzes the role of the market and government during the High-Growth era of Japan prudently
- Portrays the life of an influential and liberal policy maker of "Income Doubling Plan’’, Dr. Shimomura, with a concise post War Japanese economic history
- Provides vision and theory for sustaining Japanese already matured Japanese society referring to experiences of the High-Growth era
- Includes supplementary material: sn.pub/extras
Part of the book series: SpringerBriefs in Economics (BRIEFSECONOMICS)
Part of the book sub series: Development Bank of Japan Research Series (BRIEFSDBJRS)
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Table of contents (7 chapters)
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Vision, Theory, and Policy: High Growth and Zero Growth
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Implications of Zero Growth Vision: Lost Decades, Sustainability, and Corporate Management
Keywords
About this book
Shimomura’s theory is not merely one of the pioneer works in macroeconomics, but also suits the economic conditions of Japan. Shimomura extends the principle of effective demand, which means that his theory includes effects of capital accumulation to production capacity. While one may argue that Harrod (1939) and Domar (1946) have already achieved that, Shimomura’s theory centers policy recommendations for sustaining the high economic growth against the productivity growth that would cause excess supply in the market.
Succinctly, Shimomura is a Keynesian who believes the vigor in its private sector but recognizes that Japanese economy urgently needs the government’s auxiliary macroeconomic policies. This book emphasizes that the rapid Japanese growth owes mainly to affluent entrepreneurship filled in the economy not to the sheer government’s planning. Dr. Shimomura’s theory endorses our assertion.
Authors and Affiliations
About the authors
Masayuki Otaki is a professor of economics at the University of Tokyo Institute of Social Science, and academic advisor at the Research Institute of Capital Formation, Development Bank of Japan. His main areas of research are macroeconomic theory, environmental economics, educational economics, and economic thought. Born in 1957, Prof. Otaki received a Bachelor’s degree in economics from the University of Tokyo in 1981 and a Ph.D. in economics from the University of Tokyo in 1990. He was appointed professor of economics at the University of Tokyo Institute of Social Science in 2001.
Bibliographic Information
Book Title: Dr. Osamu Shimomura's Legacy and the Postwar Japanese Economy
Authors: Kozo Horiuchi, Masayuki Otaki
Series Title: SpringerBriefs in Economics
DOI: https://doi.org/10.1007/978-981-10-5762-5
Publisher: Springer Singapore
eBook Packages: Economics and Finance, Economics and Finance (R0)
Copyright Information: Development Bank of Japan 2017
Softcover ISBN: 978-981-10-5761-8Published: 30 August 2017
eBook ISBN: 978-981-10-5762-5Published: 10 August 2017
Series ISSN: 2191-5504
Series E-ISSN: 2191-5512
Edition Number: 1
Number of Pages: XI, 113
Number of Illustrations: 10 b/w illustrations, 5 illustrations in colour
Topics: Macroeconomics/Monetary Economics//Financial Economics, Economic Policy, Economic History