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Japan's Economic Challenge by Michael Keresztesi,Gary R. Cocozzoli Pdf
This book, first published in 1988, assembles a key pool of references in English to help study the ‘Japanese economic challenge’ of the 1980s. Collectively, these writings chronicle the historical, social and cultural background of Japan’s spectacular industrial take-off. They describe, analyse and interpret the diverse manifestations of Japan’s economic growth.
Restoring Japan's Economic Growth by Adam Simon Posen Pdf
Criticism of current Japanese macroeconomic and financial policies is so wide spread that the reasons for it are assumed to be self-evident. In this volume, Adam Posen explains in depth why a shift in Japanese fiscal and monetary policies, as well as financial reform, would be in Japan's self-interest. He demonstrates that Japanese economic stagnation in the 1990s is the result of mistaken fiscal austerity and financial laissez-faire rather than a structural decline of the "Japan Model." The author outlines a program for putting the country back on the path to solid economic growth - primarily through permanent tax cuts and monetary stabilization - and draws broader lessons from the recent Japanese policy actions that led to the country's continuing stagnation.
Japan’s Lost Decade by Naoyuki Yoshino,Farhad Taghizadeh-Hesary Pdf
This book discusses Japan’s long-term economic recession and provides remedies for that recession that are useful for other Asian economies. The book addresses why Japan’s economy has stagnated since the bursting of its economic bubble in the 1990s. Its empirical analysis challenges the beliefs of some economists, such as Paul Krugman, that the Japanese economy is caught in a liquidity trap. This book argues that Japan’s economic stagnation stems from a vertical “investment–saving” (IS) curve rather than a liquidity trap. The impact of fiscal policy has declined drastically, and the Japanese economy faces structural problems rather than a temporary downturn. These structural problems have many causes: an aging demographic (a problem that is frequently overlooked), an over-reliance by local governments on transfers from the central government, and Basel capital requirements that have made Japanese banks reluctant to lend money to start-up businesses and small and medium-sized enterprises. This latter issue has discouraged Japanese innovation and technological progress. All these issues are addressed empirically and theoretically, and several remedies for Japan’s long-lasting recession are provided. This volume will be of interest to researchers and policy makers not only in Japan but also the People’s Republic of China, many countries in the eurozone, and the United States, which may face similar challenges in the future.
After seven long years of economic malaise, it is clear that something has gone awry in Japan. Unless Japan undertakes sweeping reform, official forecasts now warn, growth will steadily dwindle. How could the world's most acclaimed economic miracle have stumbled so badly? As this important book explains, the root of the problem is that Japan is still mired in the structures, policies, and mental habits of the 1950s-1960s. Four decades ago while in the "catch-up" phase of its economic evolution, policies that gave rise to "Japan, Inc". made a lot of sense. By the 1970s and 1980s, when Japan had become a more mature economy, "catch-up economics" had become passe, even counterproductive. Even worse, in response to the oil shocks, Japan increasingly used its industrial policy tools. not to promote "winners", but to shield "losers" from competition at home and abroad. Japan's well-known aversion to imports is part and parcel of this politically understandable, but economically self-defeating, pattern. The end result is a deformed "dual economy" unique in the industrial world. Now this "dualism" is sapping the strength of the entire economy. The protection of the weak is driving Japan's most inefficient companies to invest offshore instead of at home. Without sweeping reform, real recovery will prove elusive. The challenging thesis articulated in this book is receiving widespread media attention in the United States and Japan and is sure to provoke continuing debate and controversy.
In the Shadow of the Miracle by Arthur J. Alexander Pdf
Japan is living in the shadow of its economic miracle. Its stagnation and decline relative to other advanced economies since the early 1990s is a consequence of business and government difficulty in breaking away from once-successful practices. The Japanese postwar economic miracle created the world's second largest capitalist economy. This remarkable performance, in the face of such enormous obstacles, helped solidify, even sanctify, the institutions, methods, and political arrangements associated with the economic miracle. Based upon a decade of research articles distributed in the Japan Economic Institute's weekly report on Japan, In the Shadow of the Miracle analyzes the sources of Japanese growth and the nature and scale of its current economic problems. Chapters examine the steps being taken by Japan's government and business leaders to address the mounting national economic problems and the impact on Japan of the wider Asian financial crisis (1997-99). A final section addresses the question of whether Japan is fundamentally different from other advanced economies.
Economic Challenges Facing Japan?s Regional Areas by Tatsuo Hatta Pdf
This book analyzes issues related to economic challenges for Japan?s regional revitalization. Japan?s responses to such challenges and to the problem of an aging population are of deep interest to the nations outside of Japan. This book brings together 19 articles contributed by Japan?s leading scholars, originally prepared for an online policy information portal, SPACE NIRA launched by the Nippon Institute for Research Advancement (NIRA) with Dr. Tatsuo Hatta, President of the Asian Growth Research Institute, as its General Editor. This book is a significant and useful reference for all scholars, students, and individuals with an interest in current policy issues in Japan.
Accelerating Japan's Economic Growth by F. Gerard Adams,Lawrence R. Klein,Kumasaka Yuzo,Shinozaki Akihiko Pdf
The Japanese economy is beginning to show signs of recovery after years of stagnation/deflation, but many Japanese policymakers warn that this economic growth may be sluggish: slower than in the United States and certainly slower than in other East Asian countries. Japan faces significant economic problems, including an aging population, a large fiscal deficit, and the need to adjust to the IT economy and to competition with the rest of East Asia. A slow growth scenario would greatly reduce opportunities for new productive investment and would make it increasingly difficult to provide for Japan's growing social needs. The authors of this book argue that Japan can and should grow more rapidly, and examine the reasons for the sluggish performance of the Japanese economy. For example, some Japanese economic sectors, particularly in distribution and finance, have failed to take advantage of new information and communications technology to accelerate the growth of productivity, as has happened in other countries, such as the US. Production function studies and econometric model simulations suggest that with appropriate policies the Japanese economy can grow more rapidly and deal with its future problems. The book posits a number of policy proposals which would help to accelerate Japan's economic growth This book will be of interest to students of the Japanese economy, macroeconomics and international economies, and also to policymakers and professionals interested in Japan’s economy.
Economic Analysis of Families and Society by Shinji Yamashige Pdf
This book, based on economics and game theory, analyzes the changes that Japan is now facing as a reflection of changes in Japanese families and society. The author presents a simple framework for the structural relationship among markets, communities including families, and the state; and uses it to explain the changes that have occurred in Japanese society. Social changes have created a series of social problems such as population ageing, poverty, and regional disparities, which require changes in public policies. The book provides readers with rich information about the Japanese social security system, social policies and regional policies by explaining why they are developed, how they are designed, and what challenges they face. Readers will find that the transformation of Japanese society is not really a special case but a fairly common one that many developed countries have experienced and many developing countries are going to experience. The book will be useful not only to those who are interested in Japanese society and public policies but also to anyone who is interested in the transformations of families, communities, and roles of the state in a modern market economy.
Beyond Capitalism by Eisuke Sakakibara,Jr. Prestowitz, Jr. Pdf
In this work, Eisuke Sakakibara of the powerful Japanese Finance Ministry describes the fundamental, structural differences between the American and Japanese economies, defends the Japanese approach, and warns that U.S. policies seeking to Americanize our strongest competitor are doomed to fail. This ground-breaking study is vital reading for anyone concerned about the world's two economic superpowers and the global economy being shaped by their rivalry.
