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Japan's zaibatsu, or pyramidal business groups, provided this coordination after the Meiji government failed at the task. We … that unique historical circumstances aided their success in prewar Japan. Specifically, Japan uniquely marginalized its …
Persistent link: https://www.econbiz.de/10012753906
This paper studies the evolution of income concentration in Japan from 1886 to 2002 by constructing long-run series of … despite the high economic growth; and (4) top income composition in Japan has shifted dramatically from capital income to … Japan have remained remarkably stable over the recent decades. We show that the change in technology or tax policies alone …
Persistent link: https://www.econbiz.de/10012754115
This study compares labor and total factor productivity (TFP) in France, Japan, the United Kingdom and the United … extent also to France and Japan, a relative decline that was interrupted by the second world war (WW2); (iii) the remarkable … catching-up to the United States by France and Japan after WW2, that stopped in the case of Japan during the 1990s. Capital …
Persistent link: https://www.econbiz.de/10013149831
this line of research to Asia. Japan imposed its system of well-defined property rights in land on some of its Asian … colonies, including Korea, Taiwan and Palau. In 1939 Japan began to survey and register private land in its island colonies, an … land registration obsolete. Third, considering all of Japan's colonies, we use the presence or absence of a land survey as …
Persistent link: https://www.econbiz.de/10013135762
Japan, an isolated, backward country in the 1860s, industrialized rapidly to become a major industrial power by the …
Persistent link: https://www.econbiz.de/10012947025
What is the aggregate real rate of return in the economy? Is it higher than the growth rate of the economy and, if so, by how much? Is there a tendency for returns to fall in the long-run? Which particular assets have the highest long-run returns? We answer these questions on the basis of a new...
Persistent link: https://www.econbiz.de/10012931594
Japan's successful industrialization in the late 19th and early 20th century largely exhausted its then abundant … natural resources. Rather than exemplifying rapid development in the absence of natural resources, Japan shows how laissez … resources curse that undermined its prior state-led industrialization strategy. Japan's post-WWII reconstruction relied little …
Persistent link: https://www.econbiz.de/10012978520
In July of 1826, several prominent Wall Street firms abruptly went bankrupt, amid scandalous revelations of fraudulent financial practices by their management. Although mostly forgotten today, these events represented a watershed in the early development of the corporation laws and investor...
Persistent link: https://www.econbiz.de/10012757536
One of the most salient explanations for the distinctive path of economic and political development of the United States is captured by the 'Frontier (or Turner) thesis'. Turner argued that it was the presence of the open frontier which explained why the United States became democratic and, at...
Persistent link: https://www.econbiz.de/10012757830
Most major American industrial business cycles from around 1880 to the First World War were caused by fluctuations in the size of the cotton harvest due to economically exogenous factors such as weather. Wheat and corn harvests did not affect industrial production; nor did the cotton harvest...
Persistent link: https://www.econbiz.de/10012757928