 Did Japan's high-growth success foster persistent stagnation?W.R. Garside
European Journal of Economics and Economic Policies: Intervention, 2016, vol. 13, issue 2, 189-202 Abstract: This paper contends that there is a continuum in Japan's experience of growth and decline from the 1990s to the turn of the century and beyond. A lingering attachment to the bureaucratic, financial and political underpinnings of high-growth success affected Japan's response to critical shifts in national and international economic circumstance once economic catch-up had been achieved. The institutional and ideational matrix constructed to deliver catch-up growth subsequently affected the content and fate of economic policy in subsequent decades. In the tensions that emerged between shifting circumstance and established practice can be traced the origins and nature of the ‘boom and bust’ years of the 1990s, the lacklustre reform programme that ensued and the reasons for continued stagnation into the new millennium. Keywords: stagnation; banking crises; institutions; deflation; economic orthodoxy (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:elg:ejeepi:v:13:y:2016:i:2:p189-202 Access Statistics for this article European Journal of Economics and Economic Policies: Intervention is currently edited by Torsten Niechoj More articles in European Journal of Economics and Economic Policies: Intervention from Edward Elgar Publishing |
Is your work missing from RePEc? Here is how to contribute.
Questions or problems? Check the EconPapers FAQ or send mail to .
EconPapers is hosted by the
School of Business at Örebro University.