Restructuring the economy of the 21st century in Japan and Germany

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This book features revised and updated papers from the 17th joint seminar of the faculties of economics at the Universities of Nagoya and Freiburg, held in 1997 to celebrate 25 years of collaboration. The focus is on long-term economic and business challenges faced by Japan and Germany at the turn of the century. Both nations grapple with interconnected issues such as labor market dynamics, budget deficits, demographic shifts, and the future of social security systems. Additionally, globalization, technological advancements, and evolving social values are driving structural changes in economies and institutions, leading to deregulation and the emergence of network economies. These changes foster new forms of cooperation among firms, customers, and suppliers. Furthermore, the network economy is reshaping company structures and management practices in both countries, introducing organizational models like holding companies and virtual enterprises, as well as enhancing collaboration among small and medium-sized enterprises, human resource management, and compensation strategies. While the overarching challenges in Japan and Germany mirror those in other mature economies, the nuances and specifics differ, necessitating tailored solutions. Identifying these similarities and differences through theoretical and empirical analysis was a primary goal of the seminar and previous discussions.