Chapter 8 Update. Anorexia

The Editors

Japanese Economy, 2001, vol. 29, issue 5-6, 48-121

Abstract: The late 1990s proved one thing: Japan can grow, as long as that growth is driven by the powerful tailwinds of massive macroeconomic stimulus—ever-larger fiscal deficits (now approaching 10 percent of gross domestic product [GDP]), interest rates at, or close to, zero, and an expanding trade surplus. What still remains in question is Japan's ability to grow at a decent rate for very long without such artificial life support. As of the beginning of 2001, Japan had yet to achieve the often promised but not-yet-realized "self-sustaining recovery." On the contrary, the economy looked to be slowing down rather than speeding up.

Date: 2001
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DOI: 10.2753/JES1097-203X29050648

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