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Please use this identifier to cite or link to this item: http://hdl.handle.net/2344/116

タイトル: Crisis in Japan and the Way Out: A Counterargument to Pessimistic Views
著者: Kunimune, Kozo
国宗, 浩三
キーワード: Economic Crisis
East Asia
Issue Date: Dec-1999
出版者: Institute of Developing Economies, JETRO
引用: The Developing Economies 37.4 (1999.12): 514-539
抄録: 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.
URI: http://hdl.handle.net/2344/116
Appears in Collections:03.The Developing Economies
01.経済、産業(Economy and Industry)/その他(Developed Countries)

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