What will "post-developmental" Japan look like? In contrast to the view that Japan's political economy will converge with the U.S. system, Schaede argues that Japan is characterized by a system of cooperative capitalism. One feature of this system is the dominant role played by industry associations, which have increasingly assumed regulatory functions in the 1980s and 1990s. With the decline in ministerial power to guide industrial development, this self-regulation by industry is becoming a critical factor in understanding the workings of Japan's political economy.
Ulrike Schaede is Assistant Professor at the Graduate School of International Relations and Pacific Studies (IR/PS) at the University of California, San Diego. She has a Ph.D. from Marburg University (Germany) in Japanese Studies, and has held various visiting positions and research affiliations in Japan, including at Hitotsubashi University (Tokyo), the Bank of Japan, MITI, and the Ministry of Finance. Prior to joining IR/PS, Schaede taught at the Haas School of Business at UC Berkeley. She specializes in Japanese government-business relations and business regulation in Japan, and Japan's financial markets.