Japan's rise from the ashes of defeat in the Second World War to its position now as one of the world's foremost economies has long been recognized as one of the most startling turnarounds of the 20th Century. With economic reform again at the top of the global agenda with the fall of the Soviet...

In this paper we shall provide a theoretical overview of what we are the main sources of their evolution and what are the chief implications of focusing around institutions and economic systems. For the former, we identify innovation, adaptation for environmental changes, international...