The Crisis in Northeast Asia: the Cases of Japan and South Korea

  • Corrado Molteni


Japan and South Korea, the powerful economic engines that used to push and pull the Asian economies, have been severely hit by the crisis affecting the region. Growth rates have fallen, the basis of their financial systems are shaken and well-established economic institutions like the Japanese keiretsu and the Korean chaebols have to restructure, downsize and change time-honoured customs and practices.


Liberal Democratic Party Asian Crisis Current Account Surplus Major Bank Japanese Model 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.


Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.


  1. Bank of Japan, ‘Monthly Report of Recent Economic and Financial Developments’, (Tokyo, 30 November 1998a).Google Scholar
  2. Bank of Japan, Quarterly Bulletin, (Tokyo, November 1998b).Google Scholar
  3. Choate, P. Agents of Influence, (New York: Knopf, 1990).Google Scholar
  4. Economic Planning Agency and Economic Council, Social and Economic Plan for Structural Reforms, (Tokyo, 29 November 1995).Google Scholar
  5. Economist Intelligence Unit, South Korea — Country Report, 4th Quarter 1998.Google Scholar
  6. Fallow, J. ‘Containing Japan’, The Atlantic, (May 1989).Google Scholar
  7. Ha-Joon, C. ‘South Korea: the Misunderstood Crisis’, in K.S. Jomo, Tigers in Trouble, (London, Zed Books, 1998).Google Scholar
  8. Horiuchi, A. ‘Financial Fragility and Recent Development in the Japanese Safety Net’, paper presented at the Conference on ‘Regulation and Deregulation: Japan and Europe in the Global Economy’, (Firenze, European University Institute, 1977).Google Scholar
  9. Huntington, S.P. ‘The Clash of Civilizations?’, Foreign Affairs 72, No. 3 (Summer 1993).Google Scholar
  10. International Monetary Fund, World Economic Outlook, September 1998.Google Scholar
  11. Itami, H. Jinponshugi Kigyou, (Tokyo: Chikuma Shobou, 1987).Google Scholar
  12. Itami, H. ‘The “Human-Capitalism” of the Japanese Firm as an Integrated System’, in K. Imai and R. Komiya (eds), Business Enterprises in Japan: Views of Leading Japanese Economists, (Cambridge, Massachusetts and London: The MIT Press, 1994).Google Scholar
  13. Johnson, C. ‘Trade, Revisionism, and the Future of Japanese American Relations’ in C. Johnson, Japan, Who Governs?, (New York: W.W. Norton, 1995).Google Scholar
  14. Keidanren, An Attractive Japan, Keidanren’s Vision for 2020, (Tokyo: Keidanren, 1996).Google Scholar
  15. Johnson, C. MITI and the Japanese Miracle (Stanford: Stanford University Press, 1997).Google Scholar
  16. Kosai, Y. ‘“Minshu”, “shijo-Keizai” o Tettei’ (For a Thorough Democracy and Market Economy), Nihon Keizai Shinbun, (1 January 1997).Google Scholar
  17. Krugman, P. ‘Even worse than you think’, Financial Times, (27 October 1998).Google Scholar
  18. Miwa, Y. Firm and Industrial Organisations in Japan, (London: Macmillan, 1995).CrossRefGoogle Scholar
  19. Nakatani, I. ‘Keizai-Taisei: Senshinkokugata ni’ (The Economic System: Toward the Model of Advanced Countries), Nihon Kezai Shinbun, (9 January 1995).Google Scholar
  20. Nakatani, I. Nihonkeizai no Rekishitekitenkan (The Historical Turning Point of the Japanese Economy), (Tokyo: Tokyo Keizai Shinposha, 1996).Google Scholar
  21. Nihon Keizai Shinbun, ‘Daikyosojidai e no Chosen’ (The Challenge of Mega Competition), (Tokyo: Nihon Keizai Shinbunsha, 1996).Google Scholar
  22. Ozawa, I. Nihonkaizookeikaku (Plan for the Restructuring of Japan), (Tokyo: Kodansha, 1993).Google Scholar
  23. Prestowitz, C.V. Trading Places, (New York: Basic Books, 1988).Google Scholar
  24. Sakakibara, E. Beyond Capitalism: the Japanese Model of Market Economics, (Lanham, Maryland: Economic Strategic Institute, 1993).Google Scholar
  25. Sakakibara, E. Shinposhugi kara no Ketsubetsu (Farewell to Progressivism), (Tokyo: Yomiuri Shinbunsha, 1996).Google Scholar
  26. Sakakibara, E. ‘Bunsekinaki Kanryoubashingu ga Nihon no Shakaishisustemu = Tsuyosa no Kiban wo Houkai saseru’ (Bureaucrat bashing without analyses will destroy the basis of the strength of Japan’s social system), in Nihon no ‘97 Ronten (Japan’s issues for 1997), (Tokyo, Bungeishunju, 1996).Google Scholar
  27. Sakakibara, E. ‘Academic economists reveal vacuum of thinking on Japan’s problems’, Financial Times, (30 October 1998).Google Scholar
  28. Sakakibara E. (ed.), Nichi-Bei-Oo no Keizai-.Shakaishisutemu (The Socio-economic Systems of Japan, the US and Europe), (Tokyo: Tokyo Keizai Shinposha, 1995).Google Scholar
  29. Sakakibara, E. and Y. Noguchi, ‘Okurasho•Nichigin-Ocho no Bunseki: Soryokusen-Keizaitaisei no Shuen’ (Analysis of the Ministry of Finance-Bank of Japan Dynasty: the End of the All-out War Economic System), Chuo-Koron, August 1977.Google Scholar
  30. Vogel, E.F. Japan as Number One, (Cambridge, Massachusetts: Harvard University Press, 1979).CrossRefGoogle Scholar
  31. Yomiuri Shinbun, ‘Yomiuri Proposal for Restructuring the Cabinet and Administrative System’, (Tokyo: Yomiuri Shinbunsha, 1996).Google Scholar

Copyright information

© Palgrave Macmillan, a division of Macmillan Publishers Limited 2000

Authors and Affiliations

  • Corrado Molteni

There are no affiliations available

Personalised recommendations