Japan’s Lost Decade

Lessons for Asian Economies

Business & Finance, Economics, Macroeconomics, Economic Development
Cover of the book Japan’s Lost Decade by , Springer Singapore
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: ISBN: 9789811050213
Publisher: Springer Singapore Publication: September 20, 2017
Imprint: Springer Language: English
Author:
ISBN: 9789811050213
Publisher: Springer Singapore
Publication: September 20, 2017
Imprint: Springer
Language: English

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.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

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.

More books from Springer Singapore

Cover of the book Electromigration Modeling at Circuit Layout Level by
Cover of the book Proceedings of the International Conference on Modern Research in Aerospace Engineering by
Cover of the book Mathematical Theory of Elasticity of Quasicrystals and Its Applications by
Cover of the book Carbon Cycle in the Changing Arid Land of China by
Cover of the book Collusion, Local Governments and Development in China by
Cover of the book Refractory Status Epilepticus by
Cover of the book Communication, Culture and Ecology by
Cover of the book Proceedings of the 2nd International Colloquium of Art and Design Education Research (i-CADER 2015) by
Cover of the book Life and Death Decisions in the Clinical Setting by
Cover of the book The Flipped Classroom by
Cover of the book Static Compensators (STATCOMs) in Power Systems by
Cover of the book Photography as a Social Research Method by
Cover of the book Understanding the Role of Business Analytics by
Cover of the book Evolutionary Economic Geography in China by
Cover of the book Sustainable Development of Rice and Water Resources in Mainland Southeast Asia and Mekong River Basin by
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy