In this paper, we analyze the corruption in entry regulation that involves an entrepreneur and a track of bureaucrats. Instead of formulating a game in extensive form to analyze the sequential nature of the process involved in the application for a permit, we focus on the corruption in entry...

This paper analyzes the amakudari practice in Japan. Amakudari refers to situations where government agencies contact the private firms that they regulate, asking them to provide employment for their retiring elite bureaucrats. Upon employment at the private firms, bureaucrats may collude with...

The Japanese defense market is an oligopoly. Firms in the defense industry also produce civilian goods, and the revenues they obtain from defense contracts are quite small relative to the revenues coming from the production of private goods. Because the Japanese constitution prohibits arms...

Here we explain the features of the flow of funds in Japan across time by using the flow-of-funds table. We prove that the volume of the flow of funds has decreased in various sectors compared with the boom period of the 1980s. Especially in recent years, an increased volume of corporate...

This paper discusses the Liberal Democratic Party's (LDP) ability to maintain a majority of seats in the Diet after WWII by focusing on the role of public investment. The paper discusses three periods, namely, (i) the high-growth period (1950 to 1985), (ii) the asset bubble period (1986 to...

This paper shows that for a time-independent specific tax and a time-independent ad valorem tax that induce the same competitive equilibrium in the Hotelling model of resource extraction, the ad valorem tax yields a higher level of discounted tax revenues than the specific tax. Moreover, given...

The paper presents a synthesis of the economics of exhaustible resources and that of endogenous fertility in an overlapping-generations model. Renewable energy is produced by a backstop, while the consumption good is produced from energy – provided by the backstop or from a stock of...

Endogenous growth theories developed initially along two broad trends: one emphasizes knowledge and dynamics, with explicit modeling of knowledge accumulation; the other takes a broader view of capital and encompasses human capital in its definition. The scale effect critique initiated another...

This paper examines the formation of trade policy for a small open developing economy where lobbying activities may be carried out to influence policy-making decisions. The paper presents a three-sector economy in which the manufacturing sector can lobby policymakers for favorable policies....