- Preface and Acknowledgements
- List of Figures
- List of Tables
- China: Authoritarian Capitalism
- Hong Kong: Hybrid Capitalism as Catalyst
- India: From Failed Developmental State Towards Hybrid Market Capitalism
- Indonesia: Oligarchic Capitalism
- Japan: Coordinated Capitalism Between Institutional Change and Structural Inertia
- Laos: Frontier Capitalism
- Malaysia: Personal Capitalism
- The Philippines: Inequality–Trapped Capitalism
- Singapore: Open State-Led Capitalism
- South Korea: Plutocratic State-Led Capitalism Reconfiguring
- Taiwan: Sme-Oriented Capitalism in Transition
- Thailand: Post-Developmentalist Capitalism
- Vietnam: Post-State Capitalism
- Business Groups in Asia: An Institutional Perspective
- Corporate Governance and Business Systems in Asia
- Culture and the Business Systems of Asia
- Employment Relations and Human Resource Management in Asia: Explaining Patterns in Asian Societies
- Financial Systems in Asia: Where Politics Meets Development
- MNEs in Asian Business Systems
- National R&D Systems and Technology Development in Asia
- The Co-evolution of Global Sourcing of Business Support Functions and the Economic Development of Asian Emerging Economies
- Social Capital in Asia: Its Dual Nature and Function
- The Role of the State in Asian Business Systems
- A Survey of Strategic Behaviour and Firm Performance in Asia
- Pictures of the Past: Historical Influences in Contemporary Asian Business Systems
- Beyond Production: Changing Dynamics of Asian Business Groups
- Change and Continuity in East Asian Business Systems
- Asian Business Systems: Implications and Perspectives for Comparative Business Systems and Varieties of Capitalism Research
- Asian Business Systems: Implications for Managerial Practice
Abstract and Keywords
This article examines the changes that have occurred in the domestic economies of Japan, Taiwan, and Korea in the past two decades. It examines, first, the process through which these three economies have changed from relatively insulated manufacturing economies to multi-sector economies whose capacities are closely tied to regional and global economic currents. It then examines how these economies have gone through major economic events—recessions, depressions, and global economic crises—and how these changes have led business groups to refocus on domestic markets. It particularly focuses on the development of the retail sector of these economies, on the adoption of lean retailing techniques, and on the variation in business strategies across the three markets. This examination shows how firms and business groups structure the economies of which they are part. The article contributes to the literature on business systems and varieties of capitalism.
Solee I. Shin is a Ph.D. Candidate in Sociology at the University of Washington, US.
Gary G. Hamilton is Professor at the Department of Sociology and The Jackson School of International Studies, University of Washington, US.
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