This paper examines the cumulative effects of gradual changes taking place in Japan's corporate landscape in general and corporate governance in particular in the past decade or so and regards it as an instance of institutional change which has not been completed yet. In order to substantiate...

This essay provides a game-theoretic, endogenous view of institutions, and then applies the idea to identify the sources of institutional trajectories of economic development in China, Japan, and Korea. It stylizes the Malthusian-phase of East Asian economies as peasant-based economies in which...