Japanese targeting

by Jon Woronoff

Few economic tools have attracted as much attention as industrial policy and "targeting," wielded most effectively by Japan to accelerate its economic rise. This book considers who targeted industries, how they were chosen and what techniques were used to support them. It also delves into the intriguing question of who ran the show: bureaucrats or businessmen? More than theory, it is essential to examine the practice of targeting. This is done generally and more specifically, with case studies of crucial exercises for steel, shipbuilding, computers, semiconductors, machine tools and many others. Even more interesting are sectors which are being targeted now: robotics, aerospace, artificial intelligence, and so on. While most targeting exercises were successful, some were failures and certain broader problems arose. They are less well known but merit careful attention. So does the impact of Japanese targeting on other countries, especially those whose domestic industries suffered or who