Japan’s Lost Decade: Lessons for Other Economies
Published By: Asian Development Bank Institute | Published Date: April, 01 , 2015Japan 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.
Author(s): Naoyuki Yoshino, Farhad Taghizadeh-Hesary | Posted on: Jan 06, 2016 | Views() | Download (509)