The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Japan, Economics in

  • Tamotsu Nishizawa
  • Aiko Ikeo
Reference work entry


Economics in Japan seems to have developed in two major different ways, political economy and neoclassical economics. The traditional notion of ‘administering the nation and relieving the suffering people’ continued to exert a strong influence on political economists. The German Historical School and then Marxian economics also maintained their very strong traditional hold up to the 1960s, as in other late-developing countries. Neoclassical and Keynesian economics began to develop in the 1930s. Some theoretical economists began to make international contributions to studies of the general equilibrium approach, welfare economics, and trade theory in the 1950s.


Akamatsu, K. Amano, T. Amonn, A. Aoyama, H. Arisawa, H. Ashley, W. J. Bastable, C. F. Brentano, L. Brouwer’s fixed-point theorem Cambridge School Carey, H. C. Chenery, H. Civil Society School Cobweb theorem Comparative advantage Cournot, A. A. Developmental state Differential–difference models Dual structure Econometric Society Economic development Ely, R. T. Engel’s law Fenollosa, E. Fixed-point theorems Free trade Fukuda, T. Fukuzawa, Y. Furuya, H. General equilibrium German Historical School Gossen, H. H. Hayakawa, M. Hecksher–Ohlin trade theory Hirai, Y. Hobson, J. A. Ichimura, S. Inada, K. Industrial policy Infant-industry protection Inoue, T. International division of labour International trade Ishibashi, T. Japan, economics in Japanese Economic Association Kakutani’s fixed-point theorem Kanai, N. Kawakami, H. Kemp, M. C. Keynesianism King’s law Kitamura, H. Komiya, R. Koza School Kumazawa, B. Kushida, T. laissez-faire Law of demand Leontief, W. Liapunov, A. M. List, F. London School Institutionalists Marshall, A. Marxism Masuji, Y. Mathematical economics Mill, J. S. Ministry of International Trade and Industry (MITI) (Japan) Miyamoto, K. Moore, H. L. Morishima, M. Nakayama, I. Negishi, T. Neoclassical economics Nikaido, H. Ohkawa, K. Okawa, M. Okita, S. Oniki, H. Otsuka School Ouchi, H. Over-consumption Oyama, M. Partial equilibrium Persons, W. M. Pigou, A. C. Planning Poverty Retirement Ricardian trade theory Rono School Roscher, W. G. F. Roundabout production Sato, N. Schumpeter, J. A. Separability Shibata, K. Shimomura, K. Shinohara, M. Smith, A. Socialism Sono, M. Stability Stackelberg, H. von Sugimoto, E. Taguchi, U. Takano, I. Takashima, Z. Takata, Y. Tariffs Tobata, S. Tsuru, S. Two-sector models Uchida, T. Uchida, Y. Ueda, T. Uekawa, Y. Uno, K. Uzawa, H. Wadagaki, K. Wage differentials Wagner, A. Walras, L. Watanabe, T. Webb, B. and S. Welfare economics Yagi, Y. Yamada, I. Yamada, M. Yamada, Y. Yasui, T. 

JEL Classifications

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© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • Tamotsu Nishizawa
    • 1
  • Aiko Ikeo
    • 1
  1. 1.