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Liberalism and the Welfare StateEconomists and Arguments for the Welfare State$
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Roger E. Backhouse, Bradley W. Bateman, Tamotsu Nishizawa, and Dieter Plehwe

Print publication date: 2017

Print ISBN-13: 9780190676681

Published to Oxford Scholarship Online: July 2017

DOI: 10.1093/acprof:oso/9780190676681.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 16 January 2021

Neoliberalism and Market-Disciplining Policy in the Koizumi Reform in Japan

Neoliberalism and Market-Disciplining Policy in the Koizumi Reform in Japan

(p.152) 8 Neoliberalism and Market-Disciplining Policy in the Koizumi Reform in Japan
Liberalism and the Welfare State

Juro Teranishi

Oxford University Press

The Koizumi administration employed a policy to capitalize on the ambivalent feelings of the Japanese populace about globalization. Instead of emphasizing market-disciplining effects, his drastic deregulation policy was justified as an anti-development-oriented policy, which prevailed as a global standard. Because of the long-standing economic depression in Japan, resistance to globalism was weak, and his policy gained ardent public support. Since the developmental view of Japan lacked solid ground, however, the neoliberal reform doctrine based on the Washington Consensus was by and large rootless. Although Japan recovered, owing to the export boom, it is hard to find any definite evidence of a growth effect of the Koizumi reform.

Keywords:   global standards, deregulation, anti-development-oriented policy, class and interindustrial conflict, public support

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