The Global Economic Effects of the Japanese Crisis

Marcus Noland, Sherman Robinson and Zhi Wang ()

No WP98-6, Working Paper Series from Peterson Institute for International Economics

Abstract: Economic performance in Japan--the world's second largest economy, the largest in Asia, and the world's largest creditor country--is going from bad to worse. Growth has essentially been flat since 1992, and the economy is now shrinking at an annualized rate of more than 3 percent. The OECD (1997) and Posen (1998) calculate that as a consequence of this prolonged period of subpar growth, Japan has accumulated a substantial "output gap" indicating that actual growth is well below potential. Given Japan's characteristics, one conservatively could expect national income to grow at approximately 2.5 percent--with a transitory period of faster growth to absorb accumulated slack.

Date: 1998
References: Add references at CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
https://www.piie.com/publications/working-papers/g ... ects-japanese-crisis (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:iie:wpaper:wp98-6

Access Statistics for this paper

More papers in Working Paper Series from Peterson Institute for International Economics Contact information at EDIRC.
Bibliographic data for series maintained by Peterson Institute webmaster ().