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Cooperative Capitalism: Self-Regulation, Trade Associations, and the Antimonopoly Law in Japan

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  • Schaede, Ulrike

    (University of California, San Diego)

Abstract

The Japanese government is becoming less involved in shaping industrial policy-but what does this imply for the openness of Japanese markets to foreign competition? In an extensive study of 'post-development' Japan, Ulrike Schaede argues that, contrary to what many have suggested, the reduced role of government regulation may not result in more open markets. Instead, as has happened throughout Japanese history, deregulation and the recession of the 1990s have once again led Japanese trade associations to assume important regulatory functions of their own. They do this through 'self-regulation'-setting and enforcing the rules of trade for their industries, independent from the government. As a result, many Japanese markets are now effectively governed by incumbent firms, in particular in terms of structuring the distribution system. As the record of postwar antitrust enforcement reveals, Japan's antitrust system considers most activities of self-regulation, other than outright price-fixing, as legal. Using interviews and a unique database of trade association activities, this book concludes that increasing self-regulation renders both government deregulation programmes and international trade negotiations ineffective in opening Japanese markets. The implications of self-regulation for Japanese industry are mixed: while internationally competitive firms can use self-regulation to reduce competition at home in order to compete more forcefully abroad, some domestic industries, such as the financial sector, may suffer from increased self-protection.

Suggested Citation

  • Schaede, Ulrike, 2000. "Cooperative Capitalism: Self-Regulation, Trade Associations, and the Antimonopoly Law in Japan," OUP Catalogue, Oxford University Press, number 9780198297185.
  • Handle: RePEc:oxp:obooks:9780198297185
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    Cited by:

    1. Christopher S Decker & William Corcoran & David T Flynn, 2011. "Shipwrecks on the Great Lakes and the Lake Carriers Association," Eastern Economic Journal, Palgrave Macmillan;Eastern Economic Association, vol. 37(4), pages 450-469.
    2. Patricia A. Nelson, 2004. "The Effect of Innovation and Technological Change on Information Flows, Authority and Industry Associations in Japan," CIRJE F-Series CIRJE-F-301, CIRJE, Faculty of Economics, University of Tokyo.
    3. Michael E. Porter & Mariko Sakakibara, 2004. "Competition in Japan," Journal of Economic Perspectives, American Economic Association, vol. 18(1), pages 27-50, Winter.
    4. Cornelia Storz & Werner Pascha, 2011. "Japan’s Silver Market: Creating a New Industry under Uncertainty," Chapters, in: Werner Pascha & Cornelia Storz & Markus Taube (ed.), Institutional Variety in East Asia, chapter 10, Edward Elgar Publishing.
    5. Kuniko Fujita, 2003. "Neo-industrial Tokyo: Urban Development and Globalisation in Japan's State-centred Developmental Capitalism," Urban Studies, Urban Studies Journal Limited, vol. 40(2), pages 249-281, February.
    6. Ulrike Schaede, 2004. "What Happened to the Japanese Model?," Review of International Economics, Wiley Blackwell, vol. 12(2), pages 277-294, May.
    7. Bayirbag Mustafa K., 2011. "Pro-Business Local Governance and (Local) Business Associations: The Case of Gaziantep," Business and Politics, De Gruyter, vol. 13(4), pages 1-39, December.
    8. Mark Metzler, 2012. "Introduction: Japan at an inflection point," Asia Pacific Business Review, Taylor & Francis Journals, vol. 18(2), pages 135-147, April.
    9. Hiroaki Ino & Akira Miyaoka, 2016. "Government-induced Production Commitment in the Open Economy," Discussion Paper Series 142, School of Economics, Kwansei Gakuin University, revised May 2016.
    10. Pascha, Werner & Storz, Cornelia, 2008. "How are markets created? The case of Japan's silver market," Working Papers on East Asian Studies 78/2008, University of Duisburg-Essen, Institute of East Asian Studies IN-EAST.
    11. Colin Scott & Ciara Brown, 2010. "Regulatory Capacity and Networked Governance," Working Papers 201043, Geary Institute, University College Dublin.
    12. Ernkvist, Mirko, 2015. "Velocity shifts in the creative economy: incumbent-entrant dynamics in the emergence of Japanese social games," Ratio Working Papers 267, The Ratio Institute.
    13. Sub Park, 2009. "Cooperation between business associations and the government in the Korean cotton industry, 1950-70," Business History, Taylor & Francis Journals, vol. 51(6), pages 835-853.
    14. W. R. Garside, 2012. "Japan’s Great Stagnation," Books, Edward Elgar Publishing, number 14624.

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