GOVERNMENT AND ECONOMY IN HISTORICAL PERSPECTIVE

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概要

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• It is the purpose of this paper to examine the role of government in the process of industrialization and economic growth, focusing on the Japanese experience. In Great Britain, the first industrial nation, the central institution of economic development was market as described by Adam Smith. In other nations that followed in the process of industrialization, most notably Germany and Japan, government was more important in the initial process of modernization. Although the developmental efforts of government were less needed afterwards, the power of government must have been imprinted on the mind of businessmen, especially in the case of Japan. After WWII, government again played important roles in the recovery and growth of Japanese economy. However, because of the success government has achieved, it became too pervasive and by the 1990s it became a liability rather than an asset for the aging economy.

著者

• Okada Yasuo

  Department Of Economics Keio University

• 岡田 泰男

  Department of Economics, Keio University

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