03048nam 2200505Ia 450 991046500590332120170821160836.01-4623-7593-61-4527-5913-81-282-84469-597866128446901-4518-7427-8(CKB)3390000000010772(EBL)1606017(OCoLC)671571347(MiAaPQ)EBC1606017(EXLCZ)99339000000001077220100902d2009 uf 0engur|n|---|||||Lost decade in translation[electronic resource] what Japan's crisis could portend about recovery from the great recession /Murtaza Syed, Kenneth Kang, Kiichi Tokuoka[Washington, D.C.] International Monetary Fund20091 online resource (42 p.)IMF working paper ;WP/09/282Description based upon print version of record.Includes bibliographical references.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 ImpactsIII. 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; ReferencesIs 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 IMF working paper ;WP/09/282.Financial crisesJapanJapanEconomic policyElectronic books.Financial crisesSyed Murtaza1975-907256Kang Kenneth967759Tokuoka Kiichi918417International Monetary Fund.MiAaPQMiAaPQMiAaPQBOOK9910465005903321Lost decade in translation2197739UNINA