Economic Institutions in a Dynamic Society: Search for a New Frontier: Proceedings of a Conference held by the International Economic Association in Tokyo, Japan PDF
Preview Economic Institutions in a Dynamic Society: Search for a New Frontier: Proceedings of a Conference held by the International Economic Association in Tokyo, Japan
ECONOMIC INSTITUTIONS IN A DYNAMIC SOCIETY Econoßlic Institutions in aDynamie Society: Search for a New Frontier Proceedings of a Conference held by the International Economic Association in Tokyo, Japan Edited by Takashi Shiraishi and Shigeto Tsuru Palgrave Macmillan ISBN 978-1-349-20099-3 ISBN 978-1-349-20097-9 (eBook) DOI 10.1007/978-1-349-20097-9 © International Economie Assoeiation, 1989 Softcover reprint of the hardcover 1s t edition 1989 All rights reserved. For information, write: Scholarly and Refercnce Division, SI. Martin's Press, Ine., 175 Fifth Avenuc, New York, NY 10010 First published in the United States of Ameriea in 1989 ISBN 978-0-312-03088-9 Library of Congress Cataloging-in-Publication Data Eeonomie institutions in a dynamic soeiety: seareh for a new fron tier: proeeedings of a eonferenee held by the International Economie Association in Tokyo, Japan/edited by Takashi Shiraishi and Shigeto Tsuru. p. em. Includes index. ISBN 978-0-312-03088-9 I. Institutional economies--Congresses. 2. Corporations -Congresses. 3. Corporations, Japanese--Congresses. 4. International business enterprises--Congresses. 5. International business entcrprises-Japan--Congresses. I. Shiraishi, Takashi, 1921- . 11 Tsuru, Shigeto, 1912- . III. International Eeonomie Assoeiation. HB99.5.E23 1989 338.7' 4'0952--dc19 8S-36750 CIP Contents The International Economic Association viii Acknowledgements x List 0/ Contributors and Participants xi Abbreviations and Acronyms xiii Introduction Takashi Shiraishi and Shigeto Tsuru xv 1 Keynote Address: Economics of Institutions or InstitutionaI Economics Shigeto Tsuru 1 PART I MARKET AND INSTITUTIONS: ROLES OF MULTINATIONALS AND TRANSNATIONALS 2 Market and Institutions Siro Lombardini 27 Comment Andrew Schotter 50 Discussion Jenny Corbett 56 3 The Changing Pacific Rim Economy, with special reference to Japanese Transnational Corporations: A View from Australia Edward L. Wheelwright and Greg J. Crough 61 Comment Moriaki Tsuchiya 79 Discussion Jenny Corbett 82 PART 11 ECONOMIC THEORIES AND INSTITUTIONS: ECONOMIC SYSTEM, PLANNING AND TRANSITION 4 Mechanisms and Institutions Leonid Hurwicz 87 Comment Mikiro Otsuki 105 Discussion Jenny Corbett 107 v vi Contents 5 Institutional Change for the Future: Socialist Experience and New Horizons l6zef Pajestka 111 Comment Masayuki lwata 126 Discussion lenny Corbett 132 PART III TECHNOLOGICAL CHANGE AND INSTITUTIONS: DEVELOPMENT OF INFORMATION TECHNOLOGIES 6 The Japanese Firm as an Innovative Institution Masahiko Aoki and Nathan Rosenberg 137 Comment Giovanni Dosi 155 Discussion 160 7 The Effect of Innovation in Information Technology on Corporate and Industrial Organisation in Japan Masu Uekusa 162 Comment Tadao Kagono 184 Discussion lenny Corbett 188 PART IV INCENTIVES FOR CHANGING SOCIETY AND INSTITUTIONAL DEVELOPMENT: SIGNIFICANCE OF PRIVATISATION 8 Changing Boundaries of State Activity: from Nationalisation to Privatisation lohn A. Kay 193 Comments lun lkegami Yataro Fujii 207 Discussion lenny Corbett 213 Contents vii PARTV REVIEWS AND CONCLUSIONS Closing Remarks on Part I Phyllis Deane 219 Closing Remarks on Part II Hirofumi Uzawa 222 Closing Remarks on Part III Ken'ichi Imai 225 Closing Remarks on Part IV Edmond Malinvaud 227 The Problem of Dynamics of Modern Society Tigran Khachaturov 230 The Conference in Perspective Michael Kaser 237 Index 241 The International Economic Association A non-profit organisation with purely scientific aims, the International Economic Association (IEA) was founded in 1950. It is in fact a federation of national economic associations and presently includes fifty-eight such professional organisations from all parts of the world. Its basic purpose is the development of economics as an intellectual discipline. Its approach recognises a diversity of problems, systems and values in the world and also takes note of methodological diversities. The IEA has, since its creation, tried to fulfil that purpose by promoting mutual understanding of economists from the West and the East, as weil as from the North and the South, through the organisation of scientific meetings and common research programmes, and by means of publications on problems of current importance. During its thirty-seven years of existence, it has organised seventy-nine round-table conferences for specialists on topics ranging from fundamental theories to methods and tools of analysis and major problems of the present-day world. Eight triennal World Congresses have also been held, which have regularly attracted the participation of a great many economists from all over the world. The proceedings of all these meetings are published by Macmillan. The Association is governed by a Council, composed of representatives of all member associations, and by a fifteen-member Executive Committee which is elected by the Council. The present Executive Committee (198~9) is composed as folIows: President: Professor Amartya Sen, India Vice-President: Professor Bela Csik6s-Nagy, Hungary Treasurer: Professor Luis Angel Rojo, Spain Past President: Professor Kenneth J. Arrow, USA Other Members: Professor Edmar Lisboa Bacha, Brazil Professor Ragnar Bentzel, Sweden Professor Oleg T. Bogomolov, USSR Professor Silvio Borner, Switzerland Professor P. R. Brahmananda, India Professor Phyllis Deane, United Kingdom viii The International Economic Association ix Professor Luo Yuanzheng, China Professor Edmond Malinvaud, France Professor Luigi Pasinetti, Italy Professor Don Patinkin, Israel Professor Takashi Shiraishi, Japan Adviser: Professor Tigran S. Khachaturov, USSR Secretary-General: Professor Jean-Paul Fitoussi, France General Editor: Mr Michael Kaser, United Kingdom Advisor to General Editor: Professor Sir Austin Robinson, United Kingdom Conference Editor: Dr Patricia M. Hillebrandt, Uni ted Kingdom The Association has also been fortunate in having secured the following outstanding economists to serve as President: Gottfried Haberler (1950--53), Howard S. Ellis (1953--56), Erik Lindahl (1956--59), E. A. G. Robinson (1959--62), G. Ugo Papi (1962--65), Paul A. Samuelson (1965-68), Erik Lundberg (1968--71), Fritz Machlup (1971-74), Edmond Malinvaud (1974-77), Shigeto Tsuru (1977-80), Victor L. Urquidi (1980-83), Kenneth J. Arrow (1983-86) The activities of the Association are mainly funded from the subscriptions of members and grants from a number of organisations, including continuing support from UNESCO. Acknowledgements The International Economic Association Conference on Economic Institutions in a Dynamic Society: Search for a New Frontier, held in Tokyo from 15 to 17 September 1987, was hosted by the Union of National Economic Associations in Japan and supported by the Japan Science Council. In addition, a number of institutions, companies, associations and individuals lent their support for the conference. The International Economic Association wishes to thank them all for helping to make the conference a success, and in particular the Union of National Economic Associations in Japan for its organisation of the conference and for its hospitality, which together ensured that the discussions within and outside the conference room were both fruitful and congenial. The International Economic Association expresses its thanks to the International Social Science Council under whose auspices the publications programme is carried out and to UNESCO for its financial support.· • Orant 1986-1987/DOn.6.21SUB.16(SHS) x
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