The Japanese Banking Industry

Paper Summary:

This paper examines the Japanese culture and its relationship to banking. The characteristics of Japanese banking are outlined, and two socio-economic constructs, known as the "zaibatsu" and "keiretsu", are discussed. These socio-economic constructs illustrate strong historical links between banks and industry in Japan. The differences between Japanese and Western capitalism are explained.

From the Paper:

"Several years ago, researchers began investigating the relationship between Japanese Capitalism and Western Capitalism. Johnson (1993) pointed out that the differences between the two types of Capitalism are profound and point to changing and evolving theories of economics. This dichotomy of attitudes is the result, suggests Johnson, of many factors, most predominant of which was a certain blindness on the part of the West to acknowledge that Japanese capitalism was indeed different from the laissez-faire construct of the West (Aoki, 1988)."

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