Law and Economics in Japan: 25 Years after the Hatching Stage

Abstract

AbstractIn this article, I evaluate the status of law and economics in Japan from 1990 to 2016. Through the literature review, we can see distinctive features that did not exist in 1990: the establishment of the Japan Law and Economics Association, change in methodologies, increase in empirical research, expansion of research fields, and influencing policies and statutes in the real world. I then conduct case studies about how law and economics research in Japan offers policy recommendations. I present two examples: repeal of protection of short-term leases and establishment of fixed-term building leases. Finally, I explore the outlook of the next stage of law and economics in Japan. More emphasis on empirical research and more English publications on law and economics in Japan are important to move to the next stage.