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The economic history of Japan is one of the most studied. Major milestones in modern Japan's economic progress include: The foundation of the Tokugawa shogunate based in Edo (in 1603), initiating a period of internal economic development. The Meiji Restoration (in 1868) leading to Japan becoming the first non-European modern world power.
Records show that economics was taught at the university as early as in 1878. The Faculty of Economics was established in 1919, [1] following the separation of the Department of Economics, created in 1908 from the Department of Political Science at the Faculty of Law, and the Department of Commerce, established in 1909.
Monetary policy pertains to the regulation, availability, and cost of credit, while Fiscal policy deals with government expenditures, taxes, and debt. Through management of these areas, the Ministry of Finance regulated the allocation of resources in the economy, affected the distribution of income and wealth among the citizenry, stabilized the level of economic activities, and promoted ...
Japan's membership in the OECD has constrained its foreign economic policy to some extent. When Japan joined the OECD in 1966, it was obliged to agree to OECD principles on capital liberalization, an obligation that led Japan to begin the process of liberalizing its many tight controls on investment flows into and out of Japan. Japan is also a ...
In Japanese history, the Jōmon period (縄文 時代, Jōmon jidai) is the time between c. 14,000 and 300 BCE, [1] [2] [3] during which Japan was inhabited by a diverse hunter-gatherer and early agriculturalist population united through a common Jōmon culture, which reached a considerable degree of sedentism and cultural complexity. [4]
Japan's market economy model shapes the relationship between government and business. There is debate among scholars on how to classify Japan's market economy and welfare state model. [1] Some argue that the focuses of Japan's government, businesses, and laborers are solely oriented towards increasing economic productivity. [2]
The economics department especially has a high research standard. According to the Asahi Shimbun, Hitotsubashi was ranked 4th in Japan in economic research during 2005–2009. [28] More recently, Repec in January 2011 ranked Hitotsubashi's Economic Department as Japan's 5th best economic research university. [29]
The Lost Decades are a lengthy period of economic stagnation in Japan precipitated by the asset price bubble's collapse beginning in 1990. The singular term Lost Decade (失われた10年, Ushinawareta Jūnen) originally referred to the 1990s, [1] but the 2000s (Lost 20 Years, 失われた20年) [2] and the 2010s (Lost 30 Years, 失われた30年) [3] [4] [5] have been included by commentators ...