Japan S Lost Decade

Author : Naoyuki Yoshino,Farhad Taghizadeh-Hesary
Publisher : Springer
Page : 176 pages
File Size : 40,9 Mb
Release : 2017-09-20
Category : Business & Economics
ISBN : 9789811050213

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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.

Author : Gary Saxonhouse,Robert Stern
Publisher : Wiley-Blackwell
Page : 132 pages
File Size : 46,8 Mb
Release : 2004-03-05
Category : Political Science
ISBN : 1405119179

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Japan's Lost Decade by Gary Saxonhouse,Robert Stern Pdf

This volume explores the origins of Japan’s current economic crisis and assesses the country’s prospects for recovery. An exploration of the origins and consequences of Japan’s current economic crisis. Examines the collapse of the equity and real estate market bubbles in the late 1980s. Analyses the failure of Japanese monetary and fiscal policies to reverse the ensuing economic decline. Evaluates unorthodox options available to policy makers that might enable Japan to recover from its ‘lost decade’. Suggests that Japan’s prospects for economic recovery are still uncertain.

Author : Yoichi Funabashi,Barak Kushner
Publisher : Routledge
Page : 372 pages
File Size : 41,5 Mb
Release : 2015-04-10
Category : Social Science
ISBN : 9781317503361

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Examining Japan's Lost Decades by Yoichi Funabashi,Barak Kushner Pdf

This book examines five features of Japan’s ‘Lost Decades’: the speed of the economic decline in Japan compared to Japan’s earlier global prowess; a rapidly declining population; considerable political instability and failed reform attempts; shifting balances of power in the region and changing relations with Asian neighbouring nations; and the lingering legacy of World War Two. Addressing the question of why the decades were lost, this book offers 15 new perspectives ranging from economics to ideology and beyond. Investigating problems such as the risk-averse behaviour of Japan’s bureaucracy and the absence of strong political leadership, the authors analyse how the delay of ‘loss-cutting policies’ led to the 1997 financial crisis and a state of political gridlock where policymakers could not decide on firm strategies that would benefit national interests. To discuss the rebuilding of Japan, the authors argue that it is first essential to critically examine Japan’s ‘Lost Decades’ and this book offers a comprehensive overview of Japan’s recent 20 years of crisis. The book reveals that the ‘Lost Decades’ is not an issue unique to the Japanese context but has global relevance, and its study can provide important insights into challenges being faced in other mature economies. With chapters written by some of the world’s leading Japan specialists and chapters focusing on a variety of disciplines, this book will be of interest to students and scholars in the areas of Japan studies, Politics, International Relations, Security Studies, Government Policy and History.

Author : W. Miles Fletcher III,Peter W. von Staden
Publisher : Routledge
Page : 164 pages
File Size : 54,6 Mb
Release : 2014-06-11
Category : Business & Economics
ISBN : 9781317977032

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Japan's 'Lost Decade' by W. Miles Fletcher III,Peter W. von Staden Pdf

Understanding the 'lost decade' of the 1990s is central to explaining Japan today. Following a period of record high growth, the chronic downturn after 1990 raised fundamental questions about the course of the world's third largest economy. This crisis also presented Japan with the opportunity for transformative change. Changes have followed, some of them less than might be expected, and some of them far more sweeping than is generally realized. This volume presents a wide range of international perspectives on post-bubble Japan, exploring the effects of the long downturn on the views of the Japanese business community, management practices, and national policies. To what degree has Japan's traumatic experience prompted basic reforms in terms of legal changes, corporate governance, business strategy, and the longterm national vision for the economy? This book was originally published as a special issue of Asia Pacific Business Review.

Author : Kōichi Hamada,A. K. Kashyap,David E. Weinstein
Publisher : MIT Press
Page : 435 pages
File Size : 40,9 Mb
Release : 2011
Category : Business & Economics
ISBN : 9780262014892

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Japan's Bubble, Deflation, and Long-term Stagnation by Kōichi Hamada,A. K. Kashyap,David E. Weinstein Pdf

New perspectives on Japan's "lost decade" viewed in the context of recent financial turmoil.

Author : William Pesek
Publisher : John Wiley & Sons
Page : 245 pages
File Size : 44,9 Mb
Release : 2014-06-03
Category : Political Science
ISBN : 9781118780695

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Japanization by William Pesek Pdf

An in-depth look at Japan's economic malaise and the steps it must take to compete globally In Japanization, Bloomberg columnist William Pesek—based in Tokyo—presents a detailed look at Japan's continuing twenty-year economic slow-down, the political and economic reasons behind it, and the policies it could and should undertake to return to growth and influence. Despite new Prime Minister Shinzo Abe's promise of economic revitalization, investor optimism about the future, and plenty of potential, Japanization reveals why things are unlikely to change any time soon. Pesek argues that "Abenomics," as the new policies are popularly referred to, is nothing more than a dressed-up version of the same old fiscal and monetary policies that have left Japan with crippling debt, interest rates at zero, and constant deflation. He explores the ten forces that are stunting Japan's growth and offers prescriptions for fixing each one. Offers a skeptical counterpoint to the popular rosy narrative on the economic outlook for Japan Gives investors practical and detailed insight on the real condition of Japan's economy Reveals ten factors stunting Japan's growth and why they are unlikely to be solved any time soon Explains why most of what readers believe they know about Japan's economy is wrong Includes case studies of some of the biggest Japanese companies, including Olympus, Japan Airlines, Sony, and Toyota, among others For many investors, businesspeople, and economists, Japan's long economic struggle is difficult to comprehend, particularly given the economic advantages it appears to have over its neighbors. Japanization offers a ground-level look at why its problems continue and what it can do to change course.

Author : Mr.Tim Callen,Mr.Jonathan David Ostry
Publisher : International Monetary Fund
Page : 282 pages
File Size : 42,8 Mb
Release : 2003-02-13
Category : Business & Economics
ISBN : 9781589061873

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Japan's Lost Decade by Mr.Tim Callen,Mr.Jonathan David Ostry Pdf

Japan’s weak economic performance in the 1990s has had implications not only for its own people, but for the world economy more generally, given Japan’s importance as a trading partner and supplier of capital. Therefore, it is essential that Japan unlock its growth potential. The IMF has worked with the Japanese authorities to identify the policies needed to bring Japan’s economy out of its recent slump. This book contributes to this ongoing debate, whose major topics include the need for an integrated policy strategy based on the decisive restructuring of the banking and corporate sectors, combined with macroeconomic policies designed to bring an end to deflation.

Author : Jun-ichi Nakamura
Publisher : Springer
Page : 73 pages
File Size : 42,5 Mb
Release : 2016-08-02
Category : Business & Economics
ISBN : 9784431559184

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Japanese Firms During the Lost Two Decades by Jun-ichi Nakamura Pdf

Why has Japan's lost decade become the lost two decades? This book attempts to provide a novel perspective on causes of stagnant productivity growth of the Japanese corporate sector during the lost two decades. Exploiting the corporate financial dataset compiled by the Development Bank of Japan, it shows empirical evidence that an excessive conservative financial policy of firms in good standing were responsible for sluggish reallocation of productive resources after the recovery of “zombie” firms. The questions taken up in the book include: How can “zombie” firms be properly identified only on the basis of financial data? Why did a majority of “zombie” firms eventually recover? Why did the productivity and profitability of the corporate sector as a whole remain low even after the recovery of “zombie” firms? Why did firms in good standing stick to an excessive conservative financial policy and seem reluctant to invest for innovation? What can be the effective prescription to revitalize these firms in good standing? Supported by both in-depth data analyses and rich anecdotal evidence, this book is highly recommended to readers who seek a convincing and comprehensive explanation of Japan's lost two decades from the financial and corporate behavioral points of view.

Author : W. Miles Fletcher III,Peter W. von Staden
Publisher : Routledge
Page : 218 pages
File Size : 52,5 Mb
Release : 2014-06-11
Category : Business & Economics
ISBN : 9781317977025

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Japan's 'Lost Decade' by W. Miles Fletcher III,Peter W. von Staden Pdf

Understanding the 'lost decade' of the 1990s is central to explaining Japan today. Following a period of record high growth, the chronic downturn after 1990 raised fundamental questions about the course of the world's third largest economy. This crisis also presented Japan with the opportunity for transformative change. Changes have followed, some of them less than might be expected, and some of them far more sweeping than is generally realized. This volume presents a wide range of international perspectives on post-bubble Japan, exploring the effects of the long downturn on the views of the Japanese business community, management practices, and national policies. To what degree has Japan's traumatic experience prompted basic reforms in terms of legal changes, corporate governance, business strategy, and the longterm national vision for the economy? This book was originally published as a special issue of Asia Pacific Business Review.

Author : Naoyuki Yoshino
Publisher : Unknown
Page : 31 pages
File Size : 55,5 Mb
Release : 2015
Category : Electronic
ISBN : OCLC:1306585755

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Japan's Lost Decade by Naoyuki Yoshino Pdf

Japan has suffered from sluggish economic growth and recession since the 1990s, a phenomenon dubbed "Japan's Lost Decade." The People's Republic of China, many countries in the eurozone, and the United States may face similar problems in future and they have been concerned by Japan's long-term recession. This paper will address why Japan's economy has stagnated since the bursting of its economic bubble. Our empirical analysis challenges the beliefs of some western economists, such as Paul Krugman, that the Japanese economy is in a liquidity trap. We argue that Japan's economic stagnation stems from a vertical 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 startup businesses and small and medium-sized enterprises. This latter issue has discouraged Japanese innovation and technological progress. The paper will address all these issues empirically and theoretically and will provide some remedies for Japan's long-lasting recession.

Author : Hiroshi Yoshikawa
Publisher : アイハウスプレス
Page : 264 pages
File Size : 53,9 Mb
Release : 2002
Category : Literary Collections
ISBN : UCSD:31822031114663

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JAPAN’S LOST DECADE by Hiroshi Yoshikawa Pdf

Author : Frank Baldwin,Anne Allison
Publisher : NYU Press
Page : 360 pages
File Size : 50,5 Mb
Release : 2015-12-15
Category : History
ISBN : 9781479889389

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Japan by Frank Baldwin,Anne Allison Pdf

"A joint publication of the Social Science Research Council and New York University Press."

Author : Naoyuki Yoshino,Farhad Taghizadeh-Hesary
Publisher : Unknown
Page : 176 pages
File Size : 46,6 Mb
Release : 2017
Category : Economic development
ISBN : 9811050201

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Japan's Lost Decade by Naoyuki Yoshino,Farhad Taghizadeh-Hesary Pdf

Author : Yoichi Funabashi,Barak Kushner
Publisher : Routledge
Page : 424 pages
File Size : 42,8 Mb
Release : 2015-04-10
Category : Social Science
ISBN : 9781317503354

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Examining Japan's Lost Decades by Yoichi Funabashi,Barak Kushner Pdf

This book examines five features of Japan’s ‘Lost Decades’: the speed of the economic decline in Japan compared to Japan’s earlier global prowess; a rapidly declining population; considerable political instability and failed reform attempts; shifting balances of power in the region and changing relations with Asian neighbouring nations; and the lingering legacy of World War Two. Addressing the question of why the decades were lost, this book offers 15 new perspectives ranging from economics to ideology and beyond. Investigating problems such as the risk-averse behaviour of Japan’s bureaucracy and the absence of strong political leadership, the authors analyse how the delay of ‘loss-cutting policies’ led to the 1997 financial crisis and a state of political gridlock where policymakers could not decide on firm strategies that would benefit national interests. To discuss the rebuilding of Japan, the authors argue that it is first essential to critically examine Japan’s ‘Lost Decades’ and this book offers a comprehensive overview of Japan’s recent 20 years of crisis. The book reveals that the ‘Lost Decades’ is not an issue unique to the Japanese context but has global relevance, and its study can provide important insights into challenges being faced in other mature economies. With chapters written by some of the world’s leading Japan specialists and chapters focusing on a variety of disciplines, this book will be of interest to students and scholars in the areas of Japan studies, Politics, International Relations, Security Studies, Government Policy and History.

Author : Ryozo Himino
Publisher : Springer Nature
Page : 127 pages
File Size : 51,7 Mb
Release : 2021-01-07
Category : Business & Economics
ISBN : 9789811595981

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The Japanese Banking Crisis by Ryozo Himino Pdf

This open access book provides a readable narrative of the bubbles and the banking crisis Japan experienced during the two decades between the late 1980s and the early 2000s. Japan, which was a leading competitor in the world’s manufacturing sector, tried to transform itself into an economy with domestic demand-led mature growth, but the ensuing bubbles and crisis instead made the country suffer from chronicle deflation and stagnation. The book analyses why the Japanese authorities could not avoid making choices that led to this outcome. The chapters are based on the lectures to regulators from emerging economies delivered at the Global Financial Partnership Center of the Financial Services Agency of Japan.