In this unusually candid book, Japan's former top financial diplomat asserts the urgent need for wholesale structural reform to revitalize the long-stagnant Japanese economy. Eisuke Sakakibara, whose influence over global currency markets earned him the nickname of "Mr. Yen," envisions a social and economic revolution that encompasses all sectors of Japanese society. Whereas previous analyses of Japanese policies of the past decade focus narrowly on such issues as nonperforming assets and deregulation, Sakakibara provides a new perspective. Japan's economic problems are structural, rather than cyclical, according to Sakakibara. Profitable investment opportunities are hard to find in the dysfunctional corporate sector, where costs are high and income continues to decline. The country's entrenched power elite—the Liberal Democratic Party, the bureaucracy, and vested interest groups—are threatened by reform efforts. It will be difficult to restore economic health to Japan until its political leaders are able to break the grip of this "iron triangle" and implement aggressive, widespread reforms. This book furthers the understanding that structural reform or new institution building in Japan needs an all-encompassing approach that includes the various sectors of Japanese society and the economy. Only with this kind of understanding can pragmatic and meaningful structural reform in Japan be implemented.

This innovative volume will be an excellent resource for political scientists specialized in political economy and industrial relations, labour economists and sociologists as well as policy practitioners and corporate governance specialists. Moreover,

Education policymaking is traditionally seen as a domestic political process. The job of deciding where students will be educated, what they will be taught, who will teach them, and how it will be paid for clearly rests with some mix of district, state, and national policymakers. This book seeks to show how global trends have produced similar changes to very different educational systems in the United States and Japan. Despite different historical development, social norms, and institutional structures, the U.S. and Japanese education systems have been restructured over the past dozen years, not just incrementally but in ways that have transformed traditional power arrangements. Based on 124 interviews, this book examines two restructuring episodes in U.S. education and two restructuring episodes in Japanese education. The four episodes reveal a similar politics of structural education reform that is driven by symbolic action and bureaucratic turf wars, which has ultimately hindered educational improvement in both countries.

Yes, partly. This paper studies the potential role of structural reforms in improving Japan’s outlook using the IMF’s Global Integrated Monetary and Fiscal Model (GIMF) with newly-added demographic features. Implementation of a not-fully-believed path of structural reforms can significantly offset the adverse effect of Japan’s demographic headwinds — a declining and ageing population — on real GDP (by about 15 percent in the next 40 years), but would not boost inflation or contribute substantially to stabilizing public debt. Alternatively, implementation of a fully-credible structural reform program can contribute significantly to stabilizing public debt because of the resulting increase in inflation towards the Bank of Japan’s target, while achieving the same positive long-run effects on real GDP. If no reforms are implemented, severe demographic headwinds are expected to reduce Japan’s real GDP by over 25 percent in the next 40 years.

This book should be read by all political scientists, journalists, economists, and students interested in contemporary Japan. Ellis S. Krauss Graduate School of International Relations and Pacific Studies University of California, San Diego. The author takes a scalpel to dissect Japan’s dysfunctional political system. She shows with wonderful clarity and depth of knowledge why the Koizumi reforms are not succeeding, and why revolutionary political change is needed as a precondition for economic recovery. The book should be required reading for anyone involved with contemporary Japan. J.A.A. Stockwin University of Oxford -- Publisher's description.

Are we seeing the presidentialization of politics in Japan? Certainly, many recent prime ministers have demonstrated powerful leadership, notably Junichiro Koizumi and Shinzo Abe. While the phenomenon of presidentialization has been much discussed for years, the Japanese case has not received much attention in the English language. Iwasaki analyses the state of Japanese politics using the established analytical framework of presidentialization – looking at leadership power resources, leadership autonomy, and the personalization of the electoral process – and assesses the factors that have been claimed to lead to similar changes in other countries. He argues that there are also unique variables that contribute to the presidentialization of Japanese politics. Most notably, the introduction of public subsidies to political parties and electoral reform in 1994. A valuable contribution to the global scholarship on presidentialization, which will be of particular interest to scholars of Japanese politics.

This open access book provides an in-depth examination of Japan's policy responses to the economic challenges of the 1980s and '90s. While MITI's earlier role in promoting rapid growth has been addressed in other studies, this volume, based on official records and exhaustive interviews, is the first to examine the aftermath of rapid growth and the evolution of MITI's interpretation of the economy's changing needs. Covering such topics as the oil shocks, trade conflict with the United States, and the rise and collapse of the so-called bubble economy, it presents a detailed analysis and evaluation of how these challenges were interpreted by government officials, the kinds of policies that were enacted, the extent to which policy aims were realized, and lessons for the longer term. This book is recommended especially to officials of countries concerned about the challenges that follow on high economic growth and to readers interested in Japan’s contemporary economic history.

This publication assesses the progress made since the last review and indicates what more can be done in light of current challenges. The monitoring exercise covers regulatory quality, competition and market openness.

The Routledge Handbook of Japanese Politics is an advanced level reference guide which surveys the current state of Japanese politics, featuring both traditional topics and cutting edge research. The volume is divided into five sections covering: domestic politics civil society social policy political economy and international relations/security The first four sections begin with an overview chapter that provides historical background information on the section’s overarching topic. The chapters that follow explore more specific topics in the sub-area. In the final section, historical background information is contained in the individual chapters which cover the diverse areas of international political economy, security and foreign policy. Offering a complete overview of the full spectrum of Japanese politics, the Handbook is an invaluable resource for academics, researchers, policy analysts, graduate and undergraduate students studying this ever-evolving field.

Bringing together the work of sixteen international Japan specialists and scholars, this book analyzes Japan’s culture and history to reflect on the critical policy decisions and national commitments required for the country to continue to succeed. Comparing the current situation with the uncertainties of the late nineteenth century, this book investigates the possibility and desirability of a "New Meiji Transformation" in Japan. Set in the context of perceived demographic, ecological, fiscal and political decline in Japan, it explores what a New Meiji initiative would look like in the twenty-first century and whether a new era of renewal is needed to maintain and improve quality of life. An interdisciplinary volume, this book covers contemporary issues in Japanese foreign, defense and nuclear strategies, as well as its aging population, higher education structure and environmental policies. As such Japan’s Future and a New Meiji Transformation will be of great interest to students and scholars of Japanese politics, economics and history, as well as Asian Studies more generally.