Japanese Corporate Finance and International Competition: Japanese Capitalism Versus American Capitalism (Studies in the Modern Japanese Economy) - Tapa dura

Argues that the relationship-based financial system was the central reason for the post-war growth of Japan's economy. Compares and contrasts the system with the economic system of the U.S., and discusses the how relationship-based, share- ownership structures, despite low profitability, gave an advantage to Japan in the export market. Critically reassesses the model as a catch-up formula and offers recommendations for the future. Annotation c. by Book News, Inc., Portland, Or.

Masasuke Ide is Executive Fellow, Nomura Research Institute, Nomura School of Advanced Management, Tokyo.