 Thirty Years’ Economic CrisisMasazumi Wakatabe Chapter Chapter 2 in Japan’s Great Stagnation and Abenomics, 2015, pp 21-49 from Palgrave Macmillan Abstract: Abstract This chapter chronicles Japan’s Great Stagnation during 1985–2012, from the Plaza Accord to just before the launching of Abenomics, and analyzes the economic thought of the Japanese policymakers. As see in the following chapters, economists and policymakers are divided on the true causes of Japan’s Great Stagnation, and the debate continues in the present. Broadly speaking, there are two strands of thought, one emphasizing structural factors and the other emphasizing policy failures. The narrative in this chapter emphasizes Japan’s macroeconomic policy failures, since this perspective clarifies the fact that Japan experienced not only exogenous shocks but also a series of mistakes in macroeconomic policy, although other problems, such as the bad loans problem and policy failures in other spheres, are not neglected.1 This perspective could also help us point out more specific problems and draw more specific lessons from Japan’s experiences than another perspective would allow. Keywords: Gross Domestic Product; Monetary Policy; Structural Reform; Liberal Democratic Party; Macroeconomic Policy (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-43885-0_2 Ordering information: This item can be ordered from Access Statistics for this chapter More chapters in Palgrave Macmillan Books from Palgrave Macmillan |
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.