Japanification

Dimitris N. Chorafas

Chapter 4 in Sovereign Debt Crisis, 2011, pp 61-78 from Palgrave Macmillan

Abstract: Abstract As a term of economic plight which is neither outright bankruptcy nor much better than a hall of mirrors, ‘Japanification’ is derived from the events which led to, as well as resulted from, the two lost decades of Japan’s economy. This unraveling process has involved a terrible destruction of wealth. It defied a horde of stimuli, which cost more than 150 per cent of the country’s GDP but delivered no results; led to a deflationary environment and a moribund stock market; and crystallized business activity, leaving it unable to lift itself from the hecatomb into which it was thrown by the crisis.

Keywords: Central Bank; Fiscal Policy; Public Debt; Credit Default Swap; Liberal Democratic Party (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pmschp:978-0-230-30712-4_4

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DOI: 10.1057/9780230307124_4

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