Japan's Great Stagnation and Abenomics

Japan has experienced and valiantly overcome the burst of their Bubble economy, financial crisis, lukewarm recovery, and more than a decade-long deflation and stagnation to become one of the most stable economies today. In this book, economist Masazumi Wakatabe explains how Japan's economic revitalization can be used to help us understand the goings on amid the Great Recession.

Japan's Great Stagnation and Abenomics reveals the striking similarities of economic events and policies between the Great Stagnation and the current Great Recession. It also suggests possible dangers ahead and way-outs in the future. This exciting new volume is based on Wakatabe's expertise in economic history and the history of economic ideas and argues that any policy decision is related to cultural ideology. An investigation into the relationship between cultural ideology and policy, this book helps us better understand the policy-making process in context.

Highlights the economic revitalization in Japan for poilcymakers, economists, and the public Reveals the similarities between the Great Stagnation and the Great Recession

Autorentext

Masazumi Wakatabe is Professor of Economics at Waseda University, Japan. Trained as a historian of economics, he has extensively written on economic thought during the past economic crises, and the Japanese economy and economic policy. He has published six books in Japanese, and has published numerous book chapters and academic articles throughout his career in both English and Japanese.

Klappentext

As the global Great Recession continues, policymakers, economists, and the public are turning to Japenses economic revitalization for answers. Paul Krugman, Nobel laureate in Economics, once said that Japan was a "full-dress rehearsal for the current crisis." Japan has experienced and valiantly overcome the burst of their Bubble economy, financial crisis, lukewarm recovery, and more than a decade-long deflation and stagnation to become one of the most stable economies today. Japan's Great Stagnation and Abenomics reveals the striking similarities of economic events and policies between the Great Stagnation and the current Great Recession. It also suggests possible dangers ahead and way-outs in the future. This exciting new volume is based on Wakatabe's expertise in economic history and the history of economic ideas and argues that any policy decision is related to cultural ideology. An investigation into the relationship between cultural ideology and policy helps us better understand the policy-making process.

Zusammenfassung
In this book, economist Masazumi Wakatabe explains how Japan's economic revitalization can be used to help us understand the goings on amid the Great Recession. Japan's Great Stagnation and Abenomics reveals the striking similarities of economic events and policies between the Great Stagnation and the current Great Recession.

Inhalt

1. Introduction: Once It happened in Japan 2. Thirty Years' Economic Crisis 3. Thirty Years' Intellectual Crisis 4. Shadow of History: What We Could Still Learn From the Great Depression of the 1930s 5. The Future Again? The Assessment of Abenomics 6. Concluding Remarks: Beware of Japanization