Japan makes the biggest trade surplus in the balance of payments and exercises the strong economic power next to the U.S. in the western world. Many existing studies have examined statistical data and national policies to analyze the Japanese economy....
Japan makes the biggest trade surplus in the balance of payments and exercises the strong economic power next to the U.S. in the western world. Many existing studies have examined statistical data and national policies to analyze the Japanese economy. However, one hardly understands fully the economic development of a country without understanding historical and cultural backgrounds and inheritances. Thus this study has two purposes: investigating major historical and cultural factors affecting the Japanese economic development, and providing implications to apply these factor to the Korean economic development.
This study has identified the following factors contributing to the Japanese economic development:
(1) the Japanese Confucian culture that emphasizes diligence and consciousness of the rank system,
(2) the early adoption of a compulsory education system promoting the high level of mass education,
(3) the seniority-rank and the lifetime employment system based on the characteristics of vocational ethics.
(4) the healthy relations between parent and subcontracted companies derived from the Japanese SAMURAI spirits,
(5) the eminent improvement engineering technique through excellent imitations, and
(6) the cooperations between the government and private enterprises.
These factors are typical features of the Japanese economic development and have played a key role in developing Japanese economy. The results of this study may offer lots of implications for applying to the korean economic development.