Electoral pressures for change: the effect of political reform

A cartoon in the Asahi Shinbun dated 11 August 1993 shows the leaders of the seven political parties participating in the Hosokawa coalition government formed two days before. They are wielding samurai swords and standing triumphant on the inert body of a dinosaur labeled ‘single party control’. One of the leaders is holding a banner that reads: ‘Next is political reform’, and the caption to the cartoon expresses the following sentiment: ‘By launching [the new Cabinet], “One Great Task” has been completed’ ( Asahi Shinbun, 11 August 1993). At the time it was easy to regard the formation of the first non-Liberal Democratic Party (LDP) Cabinet for nearly 38 years as a heroic event. A party mired in corruption, preferring backstage deals to open government and massively influenced by irresponsible bureaucrats and self-serving interest groups had been vanquished by a coalition of far-sighted reformers. These reformers were proposing a coherent programme to democratise and modernise the political, economic and social systems and practices of Japan. As happens following most revolutions, however, what ensued was far more messy and confusing, the politics more murky and the achievements more ambiguous than the initial mood of euphoria would have predicted. Indeed, within a mere nine months of losing office, the LDP dinosaur had revived, and though much less powerful than before, was taking its first steps on the road to regaining its dominant political position. The Hosokawa Cabinet adumbrated a reform agenda whose principal elements were deregulation, decentralisation, economic reforms and a radical change to the electoral system for the House of Representatives. In the event, partly because the tenure of office of his government was so brief, Hosokawa’s only solid achievement in the area of political reform was a wholesale rewriting of the electoral law for the Lower House. Although, however, this was arguably the one really major political change that took place in the 1990s, to gauge its effects is far more problematic. Indeed, it is a central argument of this paper that the effects of changing the Lower House electoral system have been quite limited, and that the causes of the most crucial political changes of the 1990s must be sought largely elsewhere. (It is possible, of Pacific Economic Papers course, that the new electoral system may produce more substantial effects in the future, but in any case we cannot assume that the new system will not be further revised in the next few years.

The political dimension: added value for cross-cultural analysis:Nozawa and Smits, two CEO's and their public statements

Work-related cultural differences, which were familiarized by scholars such as Hall and Hofstede, offer important concepts to help us understand various forms of cooperation and communication. However, the predominant focus of cultural analysis on collectivistic harmony prevents us from gaining an understanding of strategy and conflict. In an attempt to grasp how conflicts are handled, a political analysis can provide new insights. This is illustrated by a comparative study of two CEOs who gave public statements concerning management failure: Shouhei Nozawa of Yamaichi and Paul Smits of KPN. Their statements were strikingly different in several ways, but the classical insights of cross-cultural analysis can only partly explain the differences. This is where political analysis comes in, focusing on interest relationships, responsibilities and virtues, tactics and strategy

Southeast Asia and the Politics of Vulnerability

The economic and political crises that have recently engulfed the countries of Southeast Asia provide a stark reminder of just how difficult the challenge of sustained regional development remains. In retrospect, the hyperbole that surrounded the 'East Asian miracle' looks overblown, and testimony to the manner in which rhetoric can outstrip reality, especially in the minds of international investors. Certainly, some observers had questioned the depth and resilience of capitalist development in Southeast Asia, but in the years immediately prior to 1997 such analyses tended to be in the minority. Now, of course, it is painfully obvious that much of Southeast Asia's economic and political development was extremely fragile. When seen in historical context, this outcome should not have been surprising since the countries of modern Southeast Asia, both as independent nations and as colonies of various imperial powers, have been highly vulnerable to the actions of powerful external political and economic forces. This paper will examine the economic bases and the political consequences of this vulnerablity, both domestically and at a regional level. I argue that the recent crisis has served as an unwelcome reminder of just how constrained, dependent and vulnerable the Southeast Asia region's development prospects remain, a situation that is exacerbated by, and which contributes to, domestic political crises

Nothing New in the (North) East? Interpreting the Rhetoric and Reality of Japanese Corporate Governance

Japan finally seems to be pulling itself out of its lost decade (and a half) of economic stagnation. Some grudgingly or triumphantly attribute this to micro-economic reforms, freeing up arthritic markets, although there is also evidence that macro-economic policy failures have been a major cause of poor performance since the 1990s. Many point to overlapping transformations in corporate governance, broadly defined to cover relationships among managers and employees as well as between firms and outside shareholders, creditors, and other stakeholders. These relationships are in flux, with moves arguably favouring shareholders and more market-driven control mechanisms. It has certainly been a found decade for law reform in Japan, particularly in corporate law, with a plethora of legislative amendments commencing around 1993 and culminating in the enactment of a consolidated Company Law in 2005. This modernisation project, particularly since 2001, is reportedly aimed at (i) securing better corporate governance, (ii) bringing the law into line with a highly-developed information society, (iii) liberalising fundraising measures, (iv) bringing corporate law into line with the internationalization of corporate activity, and (v) modernizing terms and consolidating corporate law. Because the suite of revisions has moved away from strict mandatory rules set out originally in Japan\u27s Commercial Code of 1899, modeled primarily on German law, another growing perception is that Japanese corporate law and practice is or will soon be converging significantly on US models. However, assessments remain divided as to whether these moves in corporate governance and capitalism more generally in Japan amount to a new paradigm or regime shift . Focusing primarily on quite influential commentary in English, Part I of this paper outlines two pairs of views. It concludes that the most plausible assessment is of significant but gradual transformation towards a more market-driven approach, evident also in other advanced political economies. Drawing more generally from these often virulently divided views, Part II sets out five ways forward through the proliferating literature and source material on corporate governance in Japan. Particular care must be taken in: (i) selecting the temporal timeframe, (ii) selecting countries to compare, (iii) balancing black-letter law and broader socio-economic context, (iv) reflecting on and disclosing normative preferences, and (v) giving weight to processes as well as outcomes, when assessing change in Japan - and any other country\u27s governance system. Part III ends with a call for further research particularly on law- and policy-producing processes, rather than mainly outcomes. It also outlines the usefulness of this analytical framework for analysing the broader field of Corporate Social Responsibility, now emerging as the next major area of debate and transformation in Japan - as elsewhere

Stratospheric aerosol - Observations, processes, and impact on climate

Interest in stratospheric aerosol and its role in climate have increased over the last decade due to the observed increase in stratospheric aerosol since 2000 and the potential for changes in the sulfur cycle induced by climate change. This review provides an overview about the advances in stratospheric aerosol research since the last comprehensive assessment of stratospheric aerosol was published in 2006. A crucial development since 2006 is the substantial improvement in the agreement between in situ and space-based inferences of stratospheric aerosol properties during volcanically quiescent periods. Furthermore, new measurement systems and techniques, both in situ and space based, have been developed for measuring physical aerosol properties with greater accuracy and for characterizing aerosol composition. However, these changes induce challenges to constructing a long-term stratospheric aerosol climatology. Currently, changes in stratospheric aerosol levels less than 20% cannot be confidently quantified. The volcanic signals tend to mask any nonvolcanically driven change, making them difficult to understand. While the role of carbonyl sulfide as a substantial and relatively constant source of stratospheric sulfur has been confirmed by new observations and model simulations, large uncertainties remain with respect to the contribution from anthropogenic sulfur dioxide emissions. New evidence has been provided that stratospheric aerosol can also contain small amounts of nonsulfate matter such as black carbon and organics. Chemistry-climate models have substantially increased in quantity and sophistication. In many models the implementation of stratospheric aerosol processes is coupled to radiation and/or stratospheric chemistry modules to account for relevant feedback processes

Pragmatic financialisation: the role of the Japanese Post Office

The Japanese Post Office, one of the world’s largest financial institutions, was finally privatised in 2015, marking an appropriate time to examine financialisation in Japan. Literature on financialisation and changes in Japanese capitalism assumes convergence on Anglo-American capitalism with a diminishing of state power. The main argument of this paper is that financialisation is instead a more contingent process. This is put forth through an examination of how this process has been mediated by the Japanese state through the workings of the Japanese Post Office. The state has frequently shaped the direction of financialisation by intervening in the routing of household funds via the postal savings system in order to achieve its objectives in different circumstances, particularly evident in the protracted and contested nature of the post bank’s privatisation. Financialisation is thus not preordained; instead its path is hewn by crisis, catastrophe, demographics and the agency of domestic social actors

Examining The Impact Of Job Embeddedness On Salesperson Deviance: The Moderating Role Of Job Satisfaction

This study investigates the dysfunctional outcomes of salesperson job embeddedness as moderated by job satisfaction. Our findings suggest that among salespeople with low job satisfaction, organizational job embeddedness is positively linked with organizational deviance, interpersonal deviance, and customer-directed deviance. However, among salespeople with high job satisfaction, job embeddedness is negatively linked with organizational deviance and not significantly linked with either interpersonal or customer-directed deviance. The managerial implications of this study suggest that sales managers should be proactive in mitigating salesperson deviance behaviors through a variety of methods that may enhance salesperson satisfaction, particularly among salespeople who are embedded. Such managerial methods may include the following: 1) more assertive communication of acceptable norms with salespeople, 2) proper mentoring, 3) developing coordinated monitor and control systems, and 4) setting appropriate expectations for new hire salespeople by providing realistic job previews

Constancy of serum angiotensin-converting enzyme activity in normal and complicated pregnancy

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