Japan’s economic growth and the integration into the global economy: experiences in the 1960s and 1970s

Author(s):  
Andy Sumner

This chapter reviews currents in theory with a focus on modernization and neoclassical statements of comparative advantage on the one hand, and structuralism, dependency, and other theories of underdevelopment on the other. The latter theories of underdevelopment hit their zenith in the policies of the import-substitution industrialization of the 1960s and 1970s. They were largely dismissed in the 1980s as the limits of import-substitution industrialization became apparent and as East Asia industrialized, undermining any argument that structural transformation was problematic in the periphery. This chapter theorizes that neither orthodox nor heterodox theories of structural transformation adequately explain the development of late developers because of the heterogeneity of contemporary capitalism. That said, heterodox theories, which coalesce around the nature of incorporation of developing countries into the global economy, do retain conceptual usefulness in their focal point, ‘developmentalism’, by which we mean the deliberate attempts at national development led by the state.


2009 ◽  
Vol 24 (3) ◽  
pp. 254-261 ◽  
Author(s):  
Ian Shirley

The relationship between local economic development and the global economy is a dynamic process that differs in space and time and from country to country. Nowhere are these differences more evident than within the Asian and Pacific region—a region of contrasts. It is a region that contains nine of the so called ‘least developed’ countries and more than 50 per cent of the world's poor. It hosts Japan, which emerged as a major economic power in the 1960s and 1970s, to be followed a short time later by the ‘tiger’ economies of South Korea, Hong Kong, Taiwan and Singapore. More recently, the region's development has been dominated by the emerging global powers of China, India and Brazil. The contrasting characteristics and performance of these nations becomes even more graphic when the focus centres on the metropolitan cities of the region, including Mumbai, Shanghai, Apia, Melbourne, Kuala Lumpur, Santiago and Auckland (Shirley, 2008).


Author(s):  
CHRISTOPHER BLISS

Maurice Scott, an outstanding economics scholar associated for most of his career with Nuffield College Oxford, was involved in the revolution in economic thought of the 1960s and 1970s. His major work, A New View of Economic Growth (1989), was coolly received. Scott, who wrote an autobiography, My Life, and a philosophical study entitled Peter's Journey: A Search for the True Purpose of Life (1998), was elected Fellow of the British Academy in 1990. Obituary by Christopher Bliss FBA.


2019 ◽  
Vol 51 (5) ◽  
pp. 867-900
Author(s):  
Antonella Rancan

The paper discusses Modigliani, Brumberg, and Ando’s life cycle hypothesis and its difficult acceptance in Italy over the 1960s and 1970s. The increasing attention to the effects of income redistribution on consumption coupled with the strong influence that post-Keynesian economics exercised on the theoretical and political debate of that time led to a widespread preference of Kaldor’s theory as over the life cycle as the best representation of Italian savings behavior.


2017 ◽  
Vol 13 (34) ◽  
pp. 284 ◽  
Author(s):  
Patrick Ohunmah Igudia

Historically, the agricultural sector constitutes one of the most important sectors of most countries including the highly industrialised ones like the USA, Japan, and England. In Nigeria, agriculture has been the engine of growth of its economy. However, this role has not been optimally exploited by successive administrations to develop strategic growth path for Nigeria as has been achieved by the aforementioned industrialised countries and some emerging ones like China and Brazil. Nigeria has a rich agricultural resource endowment and an avalanche of laudable agricultural policies that could turn her into an industrialised economy and reduce the incidence of poverty. The last in the series of laudable agricultural policies meant to entrench Nigeria’s economic growth within the agricultural framework was the transformation agenda. The agricultural transformation agenda of the last administration (2011-2015) was intended to re-enact once again agriculture as the main driver of Nigeria’s economic growth as in the 1960s and 1970s. Earlier attempts underperformed due principally to the ineffective implementation or complete abandonment of such policies. The result has been a fall in foreign exchange earnings, low GDP level and lack of sectoral linkages. This study made several recommendations including the need for a consistent increase in government budgetary allocation to the sector so as to redress this enigma and bring back the old post-independence glory of the sector.


2021 ◽  
pp. 80-83
Author(s):  
Samuel Cohn

This chapter evaluates how poor countries achieve economic growth in the face of all the obstacles posed by the rich countries. The most successful ones have used a highly advanced form of big government — a strategy known to economists as the developmentalist state. This strategy was designed by Japan in the late nineteenth century, perfected by South Korea in the 1960s and 1970s, and brought to a high level of polish by the Chinese today. The key is having a very strong set of government economic planners who tell private companies how they should invest. These countries are not anticapitalist. Companies are privately owned; profits accrue to the owners. But anyone who wants to stay in the good graces of the government follows the official government plan. What Japan, Korea, and China actually did is they restricted firm ownership to locals, keeping multinational corporations out; strictly limited imports for consumption; and massively invested in education. They also developed a long-term plan for the nation to go into the right industries at the right time; induced private firms to cooperate with the national plan by having the government guarantee sales, profits, and cheap credit; and prevented Korean firms from going soft by setting strict performance standards in the middle term.


Author(s):  
Benay P. Dara-Abrams

While work has been conducted across geographical distances as long as humans have been engaged in work, advances in technology as well as changes in the global economy have increased both the requirement and the potential for teams to work together effectively across geographical and organizational boundaries (Hinds & Kiesler, 2002). Research conducted in the 1960s and 1970s on group development process provides a foundation for understanding and supporting the development of high-performance virtual teams (Tuckman, 1965; Tuckman & Jensen, 1977). Coupling group development process with groupware, computer-supported cooperative work (CSCW), and new peer-to-peer technologies, virtual teams have the support to move through the development stages until they become high-performance virtual teams. In fact, a recent benchmarking study determined that virtual teams have the potential to function even more productively than co-located teams (Majchrzak, Malhotra, Stamps, & Lipnack, 2004).


2010 ◽  
pp. 78-92 ◽  
Author(s):  
V. Klinov

Rates and factors of modern world economic growth and the consequences of rapid expansion of the economies of China and India are analyzed in the article. Modification of business cycles and long waves of economic development are evaluated. The need of reforming business taxation is demonstrated.


2016 ◽  
pp. 26-42 ◽  
Author(s):  
P. Kadochnikov ◽  
A. Knobel ◽  
S. Sinelnikov-Murylev

The paper considers measures on Russia’s integration into the global economy, aimed at the economic growth resumption. It analyzes conditions and mechanisms due to which the expanding trade and mutual investment with other countries contribute to economic growth in Russia. The paper provides policy recommendations for export support, regional economic integration agenda and the institutions reform.


2015 ◽  
Vol 12 (4) ◽  
pp. 539-555 ◽  
Author(s):  
Kevin M. Flanagan

This article traces Ken Russell's explorations of war and wartime experience over the course of his career. In particular, it argues that Russell's scattered attempts at coming to terms with war, the rise of fascism and memorialisation are best understood in terms of a combination of Russell's own tastes and personal style, wider stylistic and thematic trends in Euro-American cinema during the 1960s and 1970s, and discourses of collective national experience. In addition to identifying Russell's recurrent techniques, this article focuses on how the residual impacts of the First and Second World Wars appear in his favoured genres: literary adaptations and composer biopics. Although the article looks for patterns and similarities in Russell's war output, it differentiates between his First and Second World War films by indicating how he engages with, and temporarily inhabits, the stylistic regime of the enemy within the latter group.


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