Japans economy growth

Order Instructions: From 1956 to 1973, Japan’s economy grew very rapidly and the growth rate averaged 10 per cent annually during the 1960s. The Japanese industrial model was founded on three main fundamentals: lifetime employment, seniority-based pay and company-specific unions. Japan’s ‘economic miracle’ encouraged intensive discussion of its possible causes and also stimulated discussion on whether there were lessons for developing economies.

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