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| Author: | Miwa, Y. Ramseyer, J.M. |
| Title: | The fable of the keiretsu |
| Journal: | Journal of Economics & Management Strategy
2002 : SUMMER, VOL. 11:2, p. 169-224 |
| Index terms: | CULTURE FINANCIAL STRUCTURE GROUPS INDUSTRIAL STRUCTURE JAPAN |
| Language: | eng |
| Abstract: | Central to many accounts of post-war Japan, the keiretsu corporate groups lacked economic substance from the start. Conceived by Marxists committed to locating "domination" by "monopoly capital", they found an early audience among western scholars searching for evidence of culture-specific group behavior in Japan. By the 1990s, they had moved into mainstream economic studies, and keiretsu dummies appeared in virtually all econometric regressions of Japanese industrial or financial structure. Yet the keiretsu began as a figment of the academic imagination, and they remain that today. |
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