Whether in the new century the ‘Japanese model’ is facing extinction, depends on how it is defined, making a distinction between a macro-model and a micro or corporate-level model. The macro-level model concerns governance of the economy, as Johnson’s ‘developmental state’ version (1982) assigned a key role to MITI bureaucrats as general headquarters staff of Japanese capitalism.1 In recent work, the focus of research has been on Japanese financial institutions, the role of the MOF and policy-based finance.
KeywordsIncome Expense Sine OECD Reformer
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