National Institutional Structures , Transaction Cost Economizing and Competitive Advantage : The Case of Japan

  title={National Institutional Structures , Transaction Cost Economizing and Competitive Advantage : The Case of Japan},
  author={Charles W. L. Hill},
Japan's economic success since World War II has been striking. Modern Japan was the flrst major industrial economy to emerge from outside the Western tradition. Economically devastated in 1945, by 1990 Japan had the world's second largest economy and a GDP per head 20 percent greater than that of the United States. In this paper it is argued that one reason for Japan's success is that the costs of achieving cooperation and specialization are lower in Japan than in the West. Cooperation and… CONTINUE READING


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