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Japan's Economic Dilemma

Author: Bai Gao

Publisher: Cambridge University Press

Published: 2001-08-27

Total Pages: 320

ISBN-13: 9780521793735

The Japanese economy, after decades of seemingly unsurpassable competitiveness, experienced a major crisis in the 1990s. Observers of Japan are faced with a challenging question: How can one explain Japan's reversal from stunning prosperity to dismal stagnation? Bai Gao, in this illuminating, comprehensive analysis of Japan's economic story goes beyond other analyses to demonstrate how the same economic institutions could produce both stunning economic success and the slump of the 1990s. By comparing the factors that sustained miracle growth in Japan in the 1960s and 1970s with the factors that led to the bubble economy of the late 1980s, Gao sheds new light on internal tensions in the Japanese economic system and how, finally, they 'burst the bubble' in the 1990s. Those who have been following the lively debate over 'What Became of the Japanese Miracle?' will be rewarded by Gao's richly detailed, historically informed, and multilayered contribution.

Japan's Economic Dilemma

Author: Bai Gao

Publisher:

Published: 2001

Total Pages: 300

ISBN-13: 9780511118906

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Bai Gao's analysis of Japan's economic story goes beyond other analyses to demonstrate how the same economic institutions could produce stunning economic success and the slump of the 1990s. Those who have been following the lively debate over 'What became of the Japanese miracle?' will be rewarded by Gao's contribution.

Dilemmas of a Trading Nation

Author: Mireya Solis

Publisher: Brookings Institution Press

Published: 2017-08-01

Total Pages: 234

ISBN-13: 0815729200

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The balancing of competing interests and goals will have momentous consequences for Japan—and the United States—in their quest for economic growth, social harmony, and international clout. Japan and the United States face difficult choices in charting their paths ahead as trading nations. Tokyo has long aimed for greater decisiveness, which would allow it to move away from a fragmented policymaking system favoring the status quo in order to enable meaningful internal reforms and acquire a larger voice in trade negotiations. And Washington confronts an uphill battle in rebuilding a fraying domestic consensus in favor of internationalism essential to sustain its leadership role as a champion of free trade. In Dilemmas of a Trading Nation, Mireya Solís describes how accomplishing these tasks will require the skillful navigation of vexing tradeoffs that emerge from pursuing desirable, but to some extent contradictory goals: economic competitiveness, social legitimacy, and political viability. Trade policy has catapulted front and center to the national conversations taking place in each country about their desired future direction—economic renewal, a relaunched social compact, and projected international influence. Dilemmas of a Trading Nation underscores the global consequences of these defining trade dilemmas for Japan and the United States: decisiveness, reform, internationalism. At stake is the ability of these leading economies to upgrade international economic rules and create incentives for emerging economies to converge toward these higher standards. At play is the reaffirmation of a rules-based international order that has been a source of postwar stability, the deepening of a bilateral alliance at the core of America's diplomacy in Asia, and the ability to reassure friends and rivals of the staying power of the United States. In the execution of trade policy today, we are witnessing an international leadership test dominated by domestic governance dilemmas.

Postwar Japanese Economy

Author: Mitsuhiko Iyoda

Publisher: Springer Science & Business Media

Published: 2010-08-05

Total Pages: 167

ISBN-13: 1441963324

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Since the end of World War II, the Japanese economy has seen rapid changes and remarkable progress. It has also experienced a bubble economy and period of prolonged stagnation. The book seeks to address three major questions: What kind of changes have taken place in the postwar years? In what sense has there been progress? What lessons can be drawn from the experiences? The book is organized as follows: It begins with an overview of the postwar Japanese economy, using data to highlight historical changes. The four major economic issues in the postwar Japanese economy (economic restoration, rapid economic growth, the bubble economy and current topics) are addressed, with particular focus on the meaning of economic growth and the bubble economy. The next chapters examine the important economic issues for Japan related to a welfare-oriented society, including income distribution, asset distribution, and the relative share of income. Another chapter deals with the household structure of Japan, the pension issue, and the importance of the effect of demographic change on income distribution. The final chapter gives a brief summary, examines quality of life as a lesson of this research, and briefly outlines a proposal for a basic design towards achieving a high satisfaction level society. This book will be of interest to economists, economic historians and political scientists and would be useful as a text for any course on the Japanese economy.

Japan's Economic Dilemma

Author: Bai Gao

Publisher:

Published: 2001

Total Pages: 300

ISBN-13: 9780511328510

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The Japanese Economy and Economic Issues Since 1945

Author: Edward R. Beauchamp

Publisher: Taylor & Francis

Published: 1998

Total Pages: 360

ISBN-13: 9780815327325

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First Published in 1999. Routledge is an imprint of Taylor & Francis, an informa company.

The Dilemmas of Growth in Prewar Japan

Author: James William Morley

Publisher: Princeton University Press

Published: 2015-03-08

Total Pages: 538

ISBN-13: 1400872901

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The sixth and final volume in the series published for the Conference on Modern Japan reviews the political, economic and foreign policy problems faced by Japan during the 1930's and '40's. James Morley's introductory chapter, "Choice and Consequence," and Edwin O. Reisehauer's conclusion. "What Went Wrong?" define the context of the discussion. Contents: "Foreword," John Whitney Hall. 1. "Introduction: Choice and Consequence," James William Morley. PART ONE: Political and Military. II. "The Bureaucracy as a Political Force, 1920-45," Robert M. Spaulding, Jr. III. "Retrogression in Japan's Foreign Policy Decision-Making Process," Chihiro Hosoya. IV. "The Failure of Military Expansionism," Akira Iriye. V. "The Radical Left and the Failure of Communism," George M. Beekmann. PART TWO: Economic and Social. VI. "Rural Origins of Japanese Fascism," R. P. Dore and Tsutomu Ouchi. VII. "The Economic Muddle of the 192O's," Hugh I. Patrick. VIII. "Big Business and Politics in Prewar Japan," Arthur E. Tiedemann. PAKT THREE: Intellectual. IX. "Intellectuals as Visionaries of the New Asian Order," James B. Crowley. X. "Nakano Seigo and the Spirit of the Meiji Restoration in Twentieth- Century Japan," Tetsuo Najita. XI. "Oyama Ikuo and the Search for Democracy," Peter Duus. PART FOUR: Comparisons and Conclusions. XII. "Japan and Germany in the Interwar Period," Kentaro Hayashi. XIII. "What Went Wrong?" Edwin O. Reischauer. Index. Originally published in 1972. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.

Restoring Japan's Economic Growth

Author: Adam Simon Posen

Publisher: Peterson Institute

Published: 1998

Total Pages: 216

ISBN-13: 9780881322620

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Criticism of current Japanese macroeconomic and financial policies is so wide spread that the reasons for it are assumed to be self-evident. In this volume, Adam Posen explains in depth why a shift in Japanese fiscal and monetary policies, as well as financial reform, would be in Japan's self-interest. He demonstrates that Japanese economic stagnation in the 1990s is the result of mistaken fiscal austerity and financial laissez-faire rather than a structural decline of the "Japan Model." The author outlines a program for putting the country back on the path to solid economic growth - primarily through permanent tax cuts and monetary stabilization - and draws broader lessons from the recent Japanese policy actions that led to the country's continuing stagnation.

Japan’s Lost Decade

Author: Naoyuki Yoshino

Publisher: Springer

Published: 2017-09-20

Total Pages: 176

ISBN-13: 981105021X

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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.

Japan's Economic Recovery

Author: Robert Mitchell Stern

Publisher: Edward Elgar Publishing

Published: 2003-05-28

Total Pages: 484

ISBN-13: 9781781957295

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The contributors to this book, from the US and Japan, explore the main issues involved in the international trade, foreign direct investment, and macro/financial relations of the United States and Japan and provide guidance to policy makers for measures to help overcome Japan's economic stagnation since the early 1990s. The book is divided into three parts. Part I contains an empirical analysis of trade diversion under the North American Free Trade Agreement (NAFTA), a theoretical analysis of time in determining the structure and effects of trade with an application to Japan, and an empirical analysis of Japan's changing import behavior. Part II is focused on foreign direct investment (FDI), trade, and the behavior and structure of Japanese firms. Part III deals with macro/financial issues of current interest and importance in Japan. The analytical focus of the chapters is intended to enhance the understanding of the issues addressed and to provide some guidance to policymakers in the design of measures that will improve economic efficiency and welfare and help to overcome the economic stagnation that Japan has experienced in the past decade or more.