Democracy and Economic Growth: The Japanese Experience
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To tackle the subject of democracy and development, I use an empirical case studies approach, rather than the usual philosophical or axiomatic approach, which logically derives elements of development or deterioration from the assumed set of axioms which defines democracy. I have taken Japan after the Meiji Revolution of 1867–8 as an example, and observe her strong development, both economic and cultural, in the period up to her surrender to the Allied Forces in the Second World War as well as in the post-war period. I shall also observe that the polity and the economic structure which made this development possible was neither purely democratic nor purely undemocratic but a hybrid that was democratic in some aspects and undemocratic in others.
KeywordsCentral Bank Liberal Democratic Party Main Bank Parliamentary Democracy Bank Note
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