Lost decade in translation [[electronic resource] ] : what Japan's crisis could portend about recovery from the great recession / / Murtaza Syed, Kenneth Kang, Kiichi Tokuoka

• Record Nr.: UNINA9910465005903321
• Autore: Syed Murtaza <1975->
• Pubbl/distr/stampa: [Washington, D.C.], : International Monetary Fund, 2009
• ISBN: 1-4623-7593-6; 1-4527-5913-8; 1-282-84469-5; 9786612844690; 1-4518-7427-8
• Descrizione fisica: 1 online resource (42 p.)
• Collana: IMF working paper ; ; WP/09/282
• Altri autori (Persone): KangKenneth; TokuokaKiichi
• Soggetti: Financial crises - Japan; Electronic books.; Japan Economic policy
• Lingua di pubblicazione: Inglese
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Note generali: Description based upon print version of record.
• Nota di bibliografia: Includes bibliographical references.
• Nota di contenuto: Contents; I. Introduction; II. Japan's Lost Decade: From Green Shoots to Enduring Recovery; A. Background: The Three Phases of Japan's Crisis; Phase 1: 1990-97-Crisis Outbreak and Fragile Recovery; Phase 2: 1997-2000-Systemic Stress and Second Recovery Attempt; Phase 3: 2001-03-Renewed Systemic Stress Followed by Sustained Recovery; B. Revisiting Japan's Policy Responses; The Primacy of Financial and Corporate Interventions; Re-assessing the Effectiveness of Fiscal Stimulus; The Supportive Role of Credit Easing; The Art of Disengagement: Exit Strategies and Long-Term Impacts; III. Potential Implications for Today: Recovery from the Great RecessionA. The Outlook for the Global Recovery: Views from the Lost Decade; B. The Role for Global Policies: From Stimulus to Exit; IV. Conclusion; Appendix. A Chronology of Japan's Key Policy Actions; References
• Sommario/riassunto: Is the recovery from the global financial crisis now secured? A strikingly ; similar crisis that stalled Japan's growth miracle two decades ago could provide some clues. This paper explores the parallels and draws potential implications for the current global outlook and policies. Japan's experiences suggest four broad lessons. First, green shoots do not guarantee a recovery, implying a need to be cautious about the outlook. Second, financial fragilities can leave an economy vulnerable to adverse shocks and should be resolved for a durable recovery. Third, well-calibrated macroeconomic stimulus