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Academic Research Repository at the Institute of Developing Economies,Japan(ARRIDE) >
11.その他地域の研究(Developed Countries) >
01.経済、産業(Economy and Industry)/その他(Developed Countries) >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/2344/116
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| Title: | Crisis in Japan and the Way Out: A Counterargument to Pessimistic Views |
| Authors: | Kunimune, Kozo
国宗, 浩三 |
| Citation: | The Developing Economies 37.4 (1999.12): 514-539 |
| Issue Date: | Dec-1999 |
| Publisher: | Institute of Developing Economies, JETRO |
| Abstract: | This paper focuses on a review of the present state of, and outlook for the Japanese economy. The paper is composed of three parts. The first describes the interrelation between the crisis-ridden East Asian economies and Japan. I argue that Japan did not cause the Asian currency crisis. The second part describes the current state of the Japanese economy after the bubble burst. I also discuss the medium- and long-term challenges that face the Japanese economy. The third part concentrates on the issue of the "liquidity trap" Japan is experiencing. I argue that the yen's exchange rate is more likely to appreciate than depreciate by pumping liquidity into the economy while interest rates cannot be lowered any further, and therefore a "helicopter money" policy is the only way to induce a positive inflation rate and escape from the liquidity trap. |
| Keywords: | Economic Crisis
Japan
East Asia
経済危機
日本
東アジア |
| URI: | http://hdl.handle.net/2344/116 |
| Appears in Collections: | 01.経済、産業(Economy and Industry)/その他(Developed Countries)
03.The Developing Economies
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