Restoring Japans Economic Growth
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Restoring Japan's Economic Growth
Author | : Adam Simon Posen |
Publisher | : Peterson Institute |
Total Pages | : 216 |
Release | : 1998 |
Genre | : Business & Economics |
ISBN | : 9780881322620 |
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Criticism of current Japanese macroeconomic and financial policies is so wide spread that the reasons for it are assumed to be self-evident. In this volume, Adam Posen explains in depth why a shift in Japanese fiscal and monetary policies, as well as financial reform, would be in Japan's self-interest. He demonstrates that Japanese economic stagnation in the 1990s is the result of mistaken fiscal austerity and financial laissez-faire rather than a structural decline of the "Japan Model." The author outlines a program for putting the country back on the path to solid economic growth - primarily through permanent tax cuts and monetary stabilization - and draws broader lessons from the recent Japanese policy actions that led to the country's continuing stagnation.
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