-- Post-war
democratization
-- Common goal
-- Savings shortage &
directed allocation
-- Japanese-style
Market system
- Employment
practices
- Main bank system
- Corporate governance
- Gov’t intervention &
public policies
Phase I (1945-1960s)
Catching-up process
-- Post-war
democratization
-- Common goal
-- Savings shortage &
directed allocation
-- Japanese-style
Market system
- Employment
practices
- Main bank system