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The Political Economy of the Japanese Financial Big BangInstitutional Change in Finance and Public Policymaking$
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Tetsuro Toya and Jennifer A. Amyx

Print publication date: 2006

Print ISBN-13: 9780199292394

Published to Oxford Scholarship Online: May 2006

DOI: 10.1093/0199292396.001.0001

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How do Systems Change?

How do Systems Change?

Actors, Preferences, Strategies, and Institutions in Financial Politics

Chapter:
(p.46) 3 How do Systems Change?
Source:
The Political Economy of the Japanese Financial Big Bang
Author(s):

Tetsuro Toya

Jennifer Amyx (Contributor Webpage)

Publisher:
Oxford University Press
DOI:10.1093/0199292396.003.0003

This chapter has two main objectives. First, it introduces the theoretical frameworks of institutional change and organizational survival to be utilized in later chapters to make sense of the development in financial politics. Second, it constructs possible scenarios regarding financial reforms by identifying the actors and deriving their preferences based on observed behavioral regularities. It shows how the starting assumption — that organizations seek survival — applies more broadly to actors in the political economy. These actors include political parties, bureaucratic agencies, firms, and interest groups. Through this process, the institutions in Japanese finance (the Convoy) and public policymaking (bureaupluralism) that prevailed until the first half of the 1990s are identified.

Keywords:   Japan, institutional change, financial politics, bureaupluralism, finance

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