Diversity and transformations of Asian capitalisms /
edited by Robert Boyer, Robert Uemura and Akinori Isogai.
- xxv, 379 pages : illustrations ; 24 cm.
- Routledge Studies in the modern world economy ; 96 .
- Routledge studies in the modern world economy ; 96. .
Includes bibliographical references and index.
Introduction: Asia: a Social Laboratory of Contemporary Capitalisms? / Japanese Capitalism: the Companyism Eroded by Firms' Heterogenity and the Lack of New Coordinating Mechanisms -- How Has the Japanese Mode of Regulation Changed? Whereabouts of the Companyism / The Transformation of the Japanese Corporate System and the Hierarchical Nexus of Institutions / The Increasing Heterogeneity of Firms in Japanese Capitalism: Facts, Causes, Consequences and Implications / Labor-and Financial Market Risks and Welfare Spending: A Comparative Study with A Special Emphasis on Japan / Increasing Wage Inequality in Japan since the End of the 1990s: An Institutional Explanation / Institutional Changes and the Transformations of the Growth Regime in the Japanese Economy: Facing the Impact of the World Economic Crisis and Asian Integration / China and Korean Capitalisms: Two Contrasted Trajectories -- Development Mode and Capability Building in the Age of Modularization and Regional Integration: Origins of Structural Adjustments of Chinese Economy / Chinese International Production Linkages and Japanese Multinationals: Evolving Industrial Interdependence and Coordination / Analysis of the Linkage Effect in Chinese Export-led Growth: According to the Subdivisions of Asian International Input - output Tables / The Chinese Growth Regime and the World Economy / Korean Economy between Two Economic Crises: Hybridization or Convergence towards a Market-led Economy? / The Great Transformations in the Korean Economy since 1962: Processes and Consequences / Diversity of Asian Capitalisms: From Globalization to Asian Integration? -- Asian Capitalisms: Institutional Configurations and Firm Heterogeneity / The Consequences of Internationalization of Trade and Financial Transactions on Growth: Combining an Institutional Hierarchy Hypothesis with a Keynes-Minsky Approach / Comparative Analysis of Conditions for Monetary Integration: Europe and Asia / Given the Heterogeneity of Asian Countries, is a Monetary Integration or Coordination Possible? / Conclusion: the Evolving Diversity of Asian Capitalisms, From the Asian Crisis to the Subprime Crisis / Robert Boyer, Hiroyasu Uemura and Akinori Isogai -- Toshio Yamada and Yasuro Hirano -- Akinori Isogai -- Sebastien Lechevalier -- Hironori Tohyama -- Hiroyuki Uni -- Hiroyasu Uemura -- Song Lei -- Jian Wang, Sherstha Nagendra, and Hiroyasu Uemura -- Chengnan Yan -- Robert Boyer -- Wooseok Ok and Junho Yang -- Hyungkee Kim -- Yuji Harada and Hironori Tohyama -- Hiroshi Nishi -- Hiroyuki Uni -- Se-Eun Jeong, Jacques Mazier and Sophie Saglio -- Robert Boyer, Hiroyasu Uemura and Akinori Isogai. Part I. 1. 2. 3. 4. 5. 6. Part II. 7. 8. 9. 10. 11. 12. Part III. 13. 14. 15. 16.
"Among a vast literature on the Asian economies, the book proposes a distinctive approach, inspired by Regulation Theory, in order to understand the current transformations of the Asian economies. Most scholars use as a market-led capitalism as a benchmark and implicitly they diagnose the many imperfections of the Japanese, Korean or Chinese configurations compared with the American one: the Asian crises are supposed to be the direct consequence of this discrepancy. By contrast the this book traces the specificities of the Asian economies back to the formation of their basic institutions after WWII which have been shaping each national economy. The book follows their transformations after the 1997 Asian crisis until the subprime crisis. During this period, the viability of their growth regime was to coherence of five basic institutional forms: the degree of competition and insertion into the world economy, the nature of labour market organization, the monetary and exchange rate regimes and finally the style for State intervention via legislation, public spending and tax.The book provides new findings. The degree of financial liberalization and opening to the world economy largely determines the severity of the 2008-2009 recession and the political-economic reactions of each Asian countries to the subprime crisis. Asian capitalisms are distinct from American and European ones, but they are quite diverse among themselves, and this differentiation has been widening during the last decade. This book will help to shed light on a de facto regional economic integration is taking place in Asia, but unsolved past political conflicts do hinder the institutionalisation of these interdependencies"--