The Japanese Economy's Resiliency Since the Oil Crisis

Takao Komine

Japanese Economy, 1981, vol. 10, issue 2, 25-48

Abstract: To provide a point of departure for our discussion, let us review changes in the Japanese economy from the time of the Oil Shock until now and identify their characteristics. In the short period of time since 1970 the economy has experienced quite radical changes. These changes were so great that at each juncture many debates emerged as to how to understand the current situation and the future outlook of the Japanese economy. However, quite a few interpretations seem to have superficially regarded short-term fluctuations as long-term changes and, consequently, stressed structural changes of the economy. In what follows, we shall identify the forms of changes in the real economy and present and assess the arguments that were repeatedly made.

Date: 1981
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DOI: 10.2753/JES1097-203X100225

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