Japan's Post-War Economic Growth: Key Factors
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Theme II: The Development of the Global Economy
5. Japan's Post-War Economic Growth
I. Role of Government
- Growth-driven policies and focused leadership
- The Liberal Democratic Party (LDP) mostly ruled after 1955.
- A cohesive unity of bureaucrats and politicians made up competent policymakers focused on achieving economic development and self-reliance.
- Tight policy coordination was known as the "Iron Triangle."
- The Yoshida Doctrine was implemented in the early 1950s.
- Ikeda's Income Doubling Plan was introduced in the early 1960s.
- Sato's Three Non-Nuclear Principles were established in the early 1970s.
- Heavy government involvement in the free market
- The Ministry of International Trade and Industry (MITI) decided, charted, and planned Japan's industrial and