Guest Editor's Introduction

Walter Hatch

Japanese Economy, 2002, vol. 30, issue 1, 3-7

Abstract: With the exception of a growth hiccup in 1996, the Japanese economy has been flatter than cola without carbonation for more than a decade. An export drive has fueled rising expectations, but still has not managed to stimulate domestic demand, restore business confidence, or put the unemployed back to work. If a recovery is underway, it remains weak, unimpressive. Here is just one indicator of how far Japan's economy has fallen: On the Tokyo stock exchange, the Nikkei index, which had soared to almost 39,000 at the peak of the financial bubble in December 1989, had dipped below 9,000 by December 2002. How did Japan fall into this swamp? And what must it do to get out?

Date: 2002
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DOI: 10.2753/JES1097-203X30013

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