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Transformation of the Institutional Political Economy of Japan: From Rice Field Property Reform to the Zaibatsu

Year 2023, Volume: 23 Issue: 1, 89 - 106, 23.01.2023
https://doi.org/10.21121/eab.1087133

Abstract

This article examines the evolution of the institutional political economy of Japan from feudal to modern times and conceptualizes the origins of the Zaibatsu (financial clique of Japan) heritage, which has been around for centuries. The historical events were considered based on their impact on economic transformation while the methodology is based on the theoretical framework of institutional economics. In this way, the Japanese economy has been examined from a variety of angles within the contexts of the Edo Period, Meiji Reforms, and World Wars. We assert that there is a historical continuity between the rice field property reforms of the Edo Period and the success of the zaibatsu. The linkages between the state, business, and labor illuminate the economic evolution of Japan, which is clearly stated throughout the research with regard to the material and nonmaterial components. As a result, while distinguishing itself from the enormous and present literature on the Japanese economy, this study stresses rice field reforms and their continued repercussions on the main institutions of Japan’s economic miracle.

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Year 2023, Volume: 23 Issue: 1, 89 - 106, 23.01.2023
https://doi.org/10.21121/eab.1087133

Abstract

References

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  • Ito, T., & Weinstein, D. E. (1996). Japan and the Asian Economies: A Miracle in Transition. Brookings Papers on Economic Activity, 1996(2), 205-272.
  • Johnson, Chalmers A. (1987). “Political Institutions and Economic Performance: the Government-Business Relationships in Japan, South Korea, and Taiwan”, The Political Economy of the New Asian Industrialism Frederic Deyo (ed.), Ithaca: Cornell University Press.
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  • Keene, D. (2002). Emperor of Japan Meiji and His World, 1852-1912. New York: Columbia University Press.
  • Kimura, F. (2009). Japan’s Model of Economic Development: Relevant and nonrelevant Elements for Developing Economies. Retrieved from: https://www.semanticscholar.org/paper/Japan’s-Model-of-Economic-Development%3A-Relevant-and-Kimura/c65aace51677ab26bea92574bec02fa3cd85ab7f#citing-papers
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  • Koyama, K., & Suehiro, S. (2020). Covid-19 and the Outlook for Oil, Natural Gas, and LNG Demand in 2021. The Institute of Energy Economics, Japan, 8 May 2020. Retrieved from: https://eneken.ieej.or.jp/data/8933.pdf
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  • Kösebalaban, H. (1998). Japan Grand Strategy: Continuity and Change in Twentieth Century Japan Foreign Policy”, Divan: Journal of Interdisciplinary Studies 5, 57–98.
  • Krämer, H. M. (2013). Historical Origins of a Welfare-State Regime: Unemployment Protection in Japan, 1919–1949. Social Science Japan Journal, 16(1), 131-153.
  • Lynn, L., H. (1994). MITI’s Successes and Failures in Controlling Japan’s Technology Imports, Hitotsubashi Journal of Commerce and Management, Hitotsubashi University, 29(1), 15-33, December.
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There are 97 citations in total.

Details

Primary Language English
Subjects Economics, Political Science
Journal Section Research Article
Authors

Mürsel Doğrul 0000-0002-0637-843X

Cem Korkut 0000-0002-1104-5330

Publication Date January 23, 2023
Acceptance Date November 4, 2022
Published in Issue Year 2023 Volume: 23 Issue: 1

Cite

APA Doğrul, M., & Korkut, C. (2023). Transformation of the Institutional Political Economy of Japan: From Rice Field Property Reform to the Zaibatsu. Ege Academic Review, 23(1), 89-106. https://doi.org/10.21121/eab.1087133
AMA Doğrul M, Korkut C. Transformation of the Institutional Political Economy of Japan: From Rice Field Property Reform to the Zaibatsu. ear. January 2023;23(1):89-106. doi:10.21121/eab.1087133
Chicago Doğrul, Mürsel, and Cem Korkut. “Transformation of the Institutional Political Economy of Japan: From Rice Field Property Reform to the Zaibatsu”. Ege Academic Review 23, no. 1 (January 2023): 89-106. https://doi.org/10.21121/eab.1087133.
EndNote Doğrul M, Korkut C (January 1, 2023) Transformation of the Institutional Political Economy of Japan: From Rice Field Property Reform to the Zaibatsu. Ege Academic Review 23 1 89–106.
IEEE M. Doğrul and C. Korkut, “Transformation of the Institutional Political Economy of Japan: From Rice Field Property Reform to the Zaibatsu”, ear, vol. 23, no. 1, pp. 89–106, 2023, doi: 10.21121/eab.1087133.
ISNAD Doğrul, Mürsel - Korkut, Cem. “Transformation of the Institutional Political Economy of Japan: From Rice Field Property Reform to the Zaibatsu”. Ege Academic Review 23/1 (January 2023), 89-106. https://doi.org/10.21121/eab.1087133.
JAMA Doğrul M, Korkut C. Transformation of the Institutional Political Economy of Japan: From Rice Field Property Reform to the Zaibatsu. ear. 2023;23:89–106.
MLA Doğrul, Mürsel and Cem Korkut. “Transformation of the Institutional Political Economy of Japan: From Rice Field Property Reform to the Zaibatsu”. Ege Academic Review, vol. 23, no. 1, 2023, pp. 89-106, doi:10.21121/eab.1087133.
Vancouver Doğrul M, Korkut C. Transformation of the Institutional Political Economy of Japan: From Rice Field Property Reform to the Zaibatsu. ear. 2023;23(1):89-106.