Cover Image

HARDBACK
$62.25



View/Hide Left Panel

ened the role of Council for Science and Technology Policy (CSTP). Even though each ministry still maintains strong influence on technological development in its area, overall technology policy planning and coordination at the CSTP became visible and important. The long-term consequences of this remain to be seen.

The reform of higher education began with the rather short-term focus of encouraging universities to work more closely with industries as a means of revitalizing the economy. In response to the prominent role that universities played in strengthening the U.S. information technology and biotechnology industries, Japan placed an early emphasis on the creation of technology licensing offices at the universities, Bayh-Dole type arrangements to encourage patenting, and efforts to stimulate the creation of spin-offs. It is needless to say that the basic roles of universities in a national innovation system are creating and pooling knowledge and educating students. From this viewpoint, the early policies were not enough. More policy emphasis should be directed to strengthening these fundamental functions of universities.

REFERENCES

Fukao, Kuoji, and Hyeog Ug Kwon. 2005. “Why Did Japan’s TFP Growth Slow Down in the Lost Decade? An Empirical Analysis Bases on Firm- Level Data of Manufacturing Firms” RIETI Discussion Paper Series 05-E-004.

Hayashi, Fumio, and Edward C. Prescott. 2002. “The 1990s in Japan: A Lost Decade.” Review of Economic Dynamics 5(1):206-235.

Hoshi, Takeo, and Anil Kashyap. 2004. “Japan’s Economic and Financial Crisis: An Overview.” The Journal of Economic Perspectives Winter.

Jorgenson, Dale W., and Kazuyuki Motohashi. 2003. “The Role of Information Technology in the Economy: Comparison between Japan and the United States.” Prepared for RIETI/KEIO Conference on Japanese Economy: Leading East Asia in the 21st Century? Keio University. May 30.

Kawamoto, Takuji. 2004. “What Do the Purified Solow Residuals Tell Us about Japan’s Lost Decade?” Bank of Japan IMES Discussion Paper Series. No. 2004-E-5. Tokyo, Japan: Bank of Japan.

Nishimura, Kiyohiko, Takanobu Nakajima, and Kozo Kiyota. 2003. “Does the Natural Selection Mechanism Still Work in Sever Recessions? Examination of the Japanese Economy in the 1990s.” Journal of Economic Behavior and Organization 58:53-78.

Peck, M. J., Levin, R. C., and Goto, Akira. 1988. “Picking Losers: Public Policy Toward Declining Industries in Japan.” In J. B. Shoven, ed. Government Policy Toward Industry in the United States and Japan. Cambridge, UK: Cambridge University Press. Pp. 165-239.

Peek, Joe, and Eric S. Rosengren. 2005. “Unnatural Selection: Perverse Incentives and the Misallocation of Credit in Japan.” The American Economic Review 95(4):114-1166.

Porter, M. E., and M. Sakakibara. 2004. “Competition in Japan.” The Journal of Economic Perspectives 18(1).

Posen, Adam. 1998. Restoring Japan’s Economic Growth. Washington, D.C.: Peterson Institute for International Economics.



The National Academies | 500 Fifth St. N.W. | Washington, D.C. 20001
Copyright © National Academy of Sciences. All rights reserved.
Terms of Use and Privacy Statement