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Japan's New Economy: Continuity and Change in the Twenty-First Century - Couverture rigide

 
9780199241729: Japan's New Economy: Continuity and Change in the Twenty-First Century
Couverture rigide
ISBN 10 : 0199241724 ISBN 13 : 9780199241729
Editeur : Oxford University Press, 2001

Synopsis

Japan's economy stumbled in the 1990s. After four decades of rapid growth that transformed Japan into a wealthy country at the world's technological frontier, the last decade brought prolonged economic stagnation. The rapid run-up in asset prices in the late 1980s, followed by their collapse in the early 1990s, left a debt overhang that paralyzed the banking sector. Policy reforms were initially half-hearted, and businesses were slow to restructure as the global economy changed. The lagging economy has seemed impervious to aggressive fiscal stimulus measures and is still plagued by ongoing price deflation. Japan's struggle has called into question the ability of the country's economic institutions - originally designed to support factor accumulation and rapid development - to adapt to the new economic environment of the 21st century.

Yet Japan's economy is already changing. Driven by an aging population, rapid technological change, and increasing global competition, the country's public and private institutions are being slowly reshaped. This volume explores the forces that will drive structural and institutional change in three areas over the next decade: the macroeconomy, the organization of industry, and the global economic and political environment. Economists, demographers, and Japan specialists examine key aspects of the economy that will be transformed in coming years, including population and savings, the public pension system, labor markets, financial reforms, deregulation of service industries, productivity performance, foreign investment, trade, and the impact of an emerging China.

The volume fills an important gap in the existing economic literature. While much has been written about Japan's pre-1990s institutions and economic performance, this volume is unique in its forward-looking orientation - trying to understand not only the institutional and structural changes that have already reshaped Japan in the 1990s, but to identify the critical trends and institutional changes that will mould Japan's new economy over the next decade.

Les informations fournies dans la section « Synopsis » peuvent faire référence à une autre édition de ce titre.

Présentation de l'éditeur

Japan's economy stumbled in the 1990s. After four decades of rapid growth that transformed Japan into a wealthy country at the world's technological frontier, the last decade brought prolonged economic stagnation. The rapid run-up in asset prices in the late 1980s, followed by their collapse in the early 1990s, left a debt overhang that paralyzed the banking sector. Policy reforms were initially half-hearted, and businesses were slow to restructure as the global economy changed. The lagging economy has seemed impervious to aggressive fiscal stimulus measures and is still plagued by ongoing price deflation. Japan's struggle has called into question the ability of the country's economic institutions - originally designed to support factor accumulation and rapid development - to adapt to the new economic environment of the 21st century. Yet Japan's economy is already changing. Driven by an aging population, rapid technological change, and increasing global competition, the country's public and private institutions are being slowly reshaped. This volume explores the forces that will drive structural and institutional change in three areas over the next decade: the macroeconomy, the organization of industry, and the global economic and political environment. Economists, demographers, and Japan specialists examine key aspects of the economy that will be transformed in coming years, including population and savings, the public pension system, labor markets, financial reforms, deregulation of service industries, productivity performance, foreign investment, trade, and the impact of an emerging China. The volume fills an important gap in the existing economic literature. While much has been written about Japan's pre-1990s institutions and economic performance, this volume is unique in its forward-looking orientation - trying to understand not only the institutional and structural changes that have already reshaped Japan in the 1990s, but to identify the critical trends and institutional changes that will mould Japan's new economy over the next decade.

Revue de presse

This collection of essays has been very well planned and explores many of the key areas we should consider as we think about Japan's future economic development and the transformation of its society ... It is well rounded and the implications of the trends these essays sketch extends well beyond the confines of economists. (Financial History Review)

The strong point of the collection is the way in which the authors address a wide array of pressures that will force adjustments within the Japanese economy and the economic policies of the government. (Financial History Review)

Les informations fournies dans la section « A propos du livre » peuvent faire référence à une autre édition de ce titre.

Éditeur
Oxford University Press
Date d'édition
2001
Langue
anglais
ISBN 10 
0199241724
ISBN 13 
9780199241729
Reliure
Relié
Nombre de pages
338
Éditeur
Blomström Magnus, Gangnes Byron, La Croix Sumner
Coordonnées du fabricant
non disponible
Personne responsable
Ufficio Anagrafiche Messaggerie
ufficio.anagrafiche@meli.it

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