The Japanese crisis - a case of strategic failure?

Keith Cowling, Philip R. Tomlinson

Research output: Contribution to journalArticlepeer-review

62 Citations (SciVal)


This paper provides an alternative insight into Japan's current economic problems. We concentrate upon the role played by the economy's central actors, namely Japan's transnational corporations. Since the early 1980's, Japan's transnationals have become dominant players in the global economy, and now have a higher rate of physical investment in new, overseas greenfield sites than their competitors. This has had detrimental consequences for Japan's domestic economy, particularly for small firms who operate in keiretsu networks. This has led to concerns about the 'hollowing out' of Japan's domestic industry raising the possibility of long-term industrial decline and 'strategic failure'.

Original languageEnglish
Pages (from-to)358-381
JournalEconomic Journal
Issue number464
Publication statusPublished - 1 Jun 2000


  • Industrial Policy
  • Strategic failure
  • Crisis
  • Japan

ASJC Scopus subject areas

  • Economics and Econometrics


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