In This Review

Government Policy Towards Industry In The United States And Japan
Government Policy Towards Industry In The United States And Japan
Edited by John B. Shoven
Cambridge University Press, 1988, 354 pp
Purchase

Though it deals with fundamentals, this collection of conference papers by Japanese and American authors will frustrate those looking for clear conclusions about the differences in the economic performance of the two countries. About half the papers comprise sophisticated statistical analyses that produce different results according to how savings, taxes and the cost of capital are measured. Papers on energy, declining industries, the capital structure of firms and the way the bureaucracies function provide interesting descriptions but leave open the weight of these factors.