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Changing Japanese capitalism: societal coordination and institutional adjustment

Author: Witt, Michael A. INSEAD Area: Asian Business and Comparative ManagementPublisher: Cambridge University Press (CUP) 2006.Language: EnglishDescription: 225 p. : Graphs/Ill. ; 23 cm.ISBN: 9780521868600 ; 9780511349874Type of document: INSEAD Book Online Access: Click here Bibliography/Index: Includes bibliographical references and indexAbstract: Economic crisis tends to spur change in the 'rules of the game' - the 'institutions' - that govern the economic activity of firms and employees. But after more than a decade of economic pain following the burst of the Japanese Bubble Economy of the 1980s, the core institutions of Japanese capitalism have changed remarkably little. In this systematic and holistic assessment of continuity and change in the central components of Japanese capitalism, Michael A. Witt links this relatively slow rate of institutional change to a confluence of two factors: high levels of societal co-ordination in the Japanese political economy, and low levels of deviant behavior at the level of individuals, firms, and organizations. He identifies social networks permeating Japanese business as a key enabler of societal co-ordination and an obstacle to deviancy, and sheds light on a pervasive but previously under explored type of business networks, intra-industry loops.
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Includes bibliographical references and index

Economic crisis tends to spur change in the 'rules of the game' - the 'institutions' - that govern the economic activity of firms and employees. But after more than a decade of economic pain following the burst of the Japanese Bubble Economy of the 1980s, the core institutions of Japanese capitalism have changed remarkably little. In this systematic and holistic assessment of continuity and change in the central components of Japanese capitalism, Michael A. Witt links this relatively slow rate of institutional change to a confluence of two factors: high levels of societal co-ordination in the Japanese political economy, and low levels of deviant behavior at the level of individuals, firms, and organizations. He identifies social networks permeating Japanese business as a key enabler of societal co-ordination and an obstacle to deviancy, and sheds light on a pervasive but previously under explored type of business networks, intra-industry loops.

Digitized

Changmg Japanese capitalism List o f Figures List o f Tables page ui Ulll ... Foreword Acknowledgements Introduction Continuity and change in the Japanese business system Coordination and institutional adjustment Coordinating networks in the Japanese business system Intra-industry loop networking xi xiii 1 20 55 85 106 RandD consortia and intra-industry loops in new industries 147 Conclusion 181 Appendix References Index

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