Japan’s Lost Decade Japan’s Lost Decade
ADB Institute Series on Development Economics

Japan’s Lost Decade

Lessons for Asian Economies

    • $84.99
    • $84.99

Publisher Description

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.

GENRE
Business & Personal Finance
RELEASED
2017
September 20
LANGUAGE
EN
English
LENGTH
195
Pages
PUBLISHER
Springer Nature Singapore
SELLER
Springer Nature B.V.
SIZE
3.8
MB

More Books Like This

Structural Change in Japan: Macroeconomic Impact and Policy Challenges Structural Change in Japan: Macroeconomic Impact and Policy Challenges
1998
Japan's Lost Decade: Policies for Economic Revival Japan's Lost Decade: Policies for Economic Revival
2003
Examining Heisei Japan, Vol. lll Examining Heisei Japan, Vol. lll
2023
Post-Bubble Blues: How Japan Responded to Asset Price Collapse Post-Bubble Blues: How Japan Responded to Asset Price Collapse
2000
Research on China’s Monetary Policy System and Conduction Mechanism Research on China’s Monetary Policy System and Conduction Mechanism
2023
Growth, Crisis and the Korean Economy Growth, Crisis and the Korean Economy
2015

More Books by Naoyuki Yoshino & Farhad Taghizadeh-Hesary

INVESTMENT IN STARTUPS AND SMALL BUSINESS FINANCING INVESTMENT IN STARTUPS AND SMALL BUSINESS FINANCING
2021
Studies in International Economics and Finance Studies in International Economics and Finance
2022
Energy Efficiency Financing and Market-Based Instruments Energy Efficiency Financing and Market-Based Instruments
2021
Reforming State-Owned Enterprises in Asia Reforming State-Owned Enterprises in Asia
2021
Routledge Handbook of Banking and Finance in Asia Routledge Handbook of Banking and Finance in Asia
2018
Unlocking SME Finance in Asia Unlocking SME Finance in Asia
2019

Other Books in This Series

Reforming State-Owned Enterprises in Asia Reforming State-Owned Enterprises in Asia
2021
Labor Income Share in Asia Labor Income Share in Asia
2019
Monetary Policy and the Oil Market Monetary Policy and the Oil Market
2016
Production Networks and Enterprises in East Asia Production Networks and Enterprises in East Asia
2015
Financial System Stability, Regulation, and Financial Inclusion Financial System Stability, Regulation, and Financial Inclusion
2015