The East Asian Developmental Model in the Era of Global Finance: The Case of Japan‪.‬

In this article, I explore the question of whether globalization has attenuated "Asianess" in relation to a central issue at the intersection of political economy and Asian studies. I examine whether and to what extent the long-celebrated East Asian developmental state model has been discredited, both in theory and in practice, as a result of economic globalization and the alleged triumph of neoliberalism. By focusing on the case of Japan, I argue that efforts to recreate and maintain a more liberalized market in the current era have entailed more, rather than less, state activity in many key areas of the economy. In order to demonstrate this point empirically, I focus on Japan's macroeconomic policies and financial policies since the early 1990s. Japan & the Neoliberal Economic Paradigm