Developmental stateDevelopmental state, or hard state, is a term used by international political economy scholars to refer to the phenomenon of state-led macroeconomic planning in East Asia in the late 20th century. In this model of capitalism (sometimes referred to as state development capitalism), the state has more independent, or autonomous, political power, as well as more control over the economy. A developmental state is characterized by having strong state intervention, as well as extensive regulation and planning.
Nordic modelThe Nordic model comprises the economic and social policies as well as typical cultural practices common in the Nordic countries (Denmark, Finland, Iceland, Norway, and Sweden). This includes a comprehensive welfare state and multi-level collective bargaining based on the economic foundations of social corporatism, and a commitment to private ownership within a market-based mixed economy — with Norway being a partial exception due to a large number of state-owned enterprises and state ownership in publicly listed firms.
Japanese economic miracleThe Japanese economic miracle refers to Japan's record period of economic growth between the post-World War II era and the end of the Cold War. During the economic boom, Japan rapidly became the world's second-largest economy (after the United States). By the 1990s, Japan's population demographics had begun to stagnate, and the workforce was no longer expanding as quickly as it had in the previous decades despite per-worker productivity remaining high.
