The virtuous cycle between institutional elasticity, IT advancement and sustainable growth: Can Japan survive in an information society?

Kondo R & Watanabe C (2003). The virtuous cycle between institutional elasticity, IT advancement and sustainable growth: Can Japan survive in an information society? Technology in Society 25 (3): 319-335. DOI:10.1016/S0160-791X(03)00048-4.

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Abstract

Japan's success in achieving sustainable development during the catch-up years up to the end of the 1980s can be attributed to a high institutional elasticity that can be distinctly observed in a virtuous cycle between technological innovation and economic growth.

Japan's domestic institutions functioned efficiently during the era of an industrial society driven by manufacturing industry. However, a new paradigm characterized by a shift to an information society emerged in the 1990s and Japan's traditional institutions did not function as efficiently as they did in preceding decades.

Consequently, a virtuous cycle between institutional elasticity and economic development changed to a vicious cycle between non-elastic institutions and economic stagnation that resulted in Japan losing its international competitiveness that reacted to further economic stagnation. Thus, Japan has been facing a dual vicious cycle leading to solid institutional elasticity.

This paper analyzes the structural sources, which compelled Japan to lose its institutional elasticity.

Item Type: Article
Uncontrolled Keywords: Institutional elasticity; Japan's institutions; Virtuous cycle; Vicious cycle; Industrial society; Information society
Research Programs: General Research (GEN)
Bibliographic Reference: Technology in Society; 25(3):319-335 (August 2003) (Published online 18 July 2003)
Depositing User: IIASA Import
Date Deposited: 15 Jan 2016 02:15
Last Modified: 25 Feb 2016 09:10
URI: http://pure.iiasa.ac.at/6845

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