Governmental contributions


The Japanese financial recovery continued even after SCAP departed and the economic boom propelled by the Korean War abated. Japan?s economy survived the deep recession caused by a loss of the U.S. payments for military procurement and continued to make gains. By the late 1960s, Japan had risen from the ashes of World War II to achieve an astoundingly rapid and complete economic recovery. According to Mikiso Hane, the period leading up to the late 1960?s saw "the greatest years of prosperity Japan had seen since the Sun Goddess shut herself up behind a stone door to protest her brother Susano-o's misbehavior." The Japanese government contributed to the post-war Japanese economic miracle by stimulating private sector growth.[citation needed] First by instituting regulations and protectionism that effectively managed economic crises and later by concentrating on trade expansion.

Mikiso Hane

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