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2018 | OriginalPaper | Chapter

5. The Evolving Diversity and Interdependence of Growth Regimes and De-industrialization in European Countries and Japan

Authors : Hiroyasu Uemura, Shinji Tahara

Published in: Evolving Diversity and Interdependence of Capitalisms

Publisher: Springer Japan

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Abstract

The transformations of growth regimes have proceeded with industrial structural changes in the increasing economic interdependence of European and East Asian countries. Most of the European economies have experienced de-industrialization as a long-term industrial structural change since the 1970s. De-industrialization is usually defined as a relative decline in output and employment in the manufacturing industry. This phenomenon has been observed universally, not only in European economies but in other advanced economies as well. In Japan, in particular, de-industrialization has accelerated rapidly since the 1990s amid institutional changes in the domestic economy and structural changes in international economic relations with other Asian countries in the process of Asian economic integration. In Europe, de-industrialization has exhibited different patterns with the evolving diversity and interdependence of European capitalisms in the process of European integration.

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previous chapter Comparative Analysis of Regional Trade Imbalance in East Asia and the Eurozone
next chapter East Asian Monetary Regimes and Comparison with the European Case: A Stock-Flow Consistent Approach
Appendix
Available only for authorised users
Footnotes
1
The growth pattern differs from country to country, depending on the specific institutional arrangements involved. In the Japanese case, “profit-led growth” played a leading role in the high economic growth in the 1960s, and “export-led growth” became dominant after the 1980s (Uemura 2000, 2012; Uemura et al. 2016).
 
2
As for the study of the patterns of regional integration by using WIOD, Baldwin and Lopez-Gonzalez (2013) is an important foundation.
 
3
De-industrialization has also occurred with “business-related services” in South Korea (export- and innovation-led capitalism). For the Korean pattern of de-industrialization, see Ok (2016). This study examines the determining factor of de-industrialization in Korea, focusing on the increase in service intermediate outsourcing for the purpose of cost-saving, which has a negative productivity effect on the Korean economy. Therefore, a comparative analysis of de-industrialization among the German, Japanese, and Korean patterns is an interesting research topic. As for the Japanese pattern, see Tahara (2009, 2010), Tahara and Uemura (2014), Uemura and Tahara (2014).
 
4
The WIOD data are calculated in dollars, so we convert them into data in real terms. The conversion procedures are explained in the Appendix at the end of this paper.
 
5
After the Euro was established, the trade imbalance expanded between Germany and southern European counties expanded rapidly. In this situation, the Euro system made de-industrialization accelerate, causing severe unemployment problems, in the southern European economies (see Boyer 2013). De-industrialization has been influenced strongly by the currency system in Europe.
 
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Metadata
Title
The Evolving Diversity and Interdependence of Growth Regimes and De-industrialization in European Countries and Japan
Authors
Hiroyasu Uemura
Shinji Tahara
Copyright Year
2018
Publisher
Springer Japan
Book
Evolving Diversity and Interdependence of Capitalisms

Print ISBN: 978-4-431-55000-6

Electronic ISBN: 978-4-431-55001-3

Copyright Year: 2018

DOI
https://doi.org/10.1007/978-4-431-55001-3_5

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