Business start-ups in Japan: problems and policies

This paper argues that the comparatively low levels of business start-ups in Japan need not be a matter of concern in so far as the pattern of growth relying on existing companies persists. But the declining trend of start-up rates may be worrisome for it may indicate waning entrepreneurship and wea...

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Bibliographic Details
Published in:Oxford review of economic policy 2000-07, Vol.16 (2), p.114-123
Main Authors: Imai, Y, Kawagoe, M
Format: Article
Language:English
Subjects:
Bankruptcy
Bankruptcy Code
Bankruptcy procedures
Birth rate
Business structures
Capital investments
Corporations
Demography
Economic growth
Economic policy
Entrepreneurs
Entrepreneurship
Financial investments
Japan
Manycountries
Market entry
Personal bankruptcy
Policy making
Resource allocation
Risk capital
Self employment
Small & medium sized enterprises-SME
Start up firms
Startups
Studies
Trends
Variables
Venture capital
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Summary:This paper argues that the comparatively low levels of business start-ups in Japan need not be a matter of concern in so far as the pattern of growth relying on existing companies persists. But the declining trend of start-up rates may be worrisome for it may indicate waning entrepreneurship and weakening mechanisms of resource reallocation and economic growth. Policy measures to promote business start-ups are not based on well-founded studies at an aggregate level, which are lacking in the absence of comparable data, but rather are inspired by the successful US experience. The paper looks into two specific areas of policy - private equity markets and bankruptcy - where important progress has been made, and points to further scope for improvement.
ISSN:0266-903X
1460-2121
1460-2121
DOI:10.1093/oxrep/16.2.114