<abstract xmlns="http://www.w3.org/1999/xhtml"><p>In the tradition of comparative capitalism, Japan represents a continental banking-oriented system. Holland represents an Anglo-Saxon market system. In Varieties Of Capitalism, Holland and Japan are identified as the same type of Liberal Market Economy (LME) or Coordinated Market Economy (CME). Only a dynamic view presented in this paper explains why Holland and Japan are now LMEs, as they used to be in the years 1868–1930. Holland and Japan used to be CMEs in the years 1910–1970s. The institutional equilibrium of open capitalism in Holland and close capitalism in Japan can explain periods of economic stagnation in the years 1603–2018.</p></abstract>

In the tradition of comparative capitalism, Japan represents a continental banking-oriented system. Holland represents an Anglo-Saxon market system. In Varieties Of Capitalism, Holland and Japan are identified as the same type of Liberal Market Economy (LME) or Coordinated Market Economy (CME). Only a dynamic view presented in this paper explains why Holland and Japan are now LMEs, as they used to be in the years 1868–1930. Holland and Japan used to be CMEs in the years 1910–1970s. The institutional equilibrium of open capitalism in Holland and close capitalism in Japan can explain periods of economic stagnation in the years 1603–2018.

Institutional evolution of open and close forms of capitalism – A case of Holland and Japan

WSB Journal of Business and Finance

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

In the tradition of comparative capitalism, Japan represents a continental banking-oriented system. Holland represents an Anglo-Saxon market system. In...

Institutional evolution of open and close forms of capitalism – A case of Holland and Japan

Published Online: Mar 28, 2019

Page range: 74 - 83

DOI: https://doi.org/10.2478/wsbjbf-2019-0008

Keywords
Institutional evolutions, Holland, Japan

© 2019 Jan Krzysztof Solarz, published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Institutional evolution of open and close forms of capitalism – A case of Holland and Japan

Published Online: Mar 28, 2019

Page range: 74 - 83

DOI: https://doi.org/10.2478/wsbjbf-2019-0008

KeywordsInstitutional evolutions, Holland, Japan

© 2019 Jan Krzysztof Solarz, published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Keywords
Institutional evolutions, Holland, Japan