LEADER 04713nam 22005895 450 001 9910255038303321 005 20250926133414.0 010 $a981-10-5021-X 024 7 $a10.1007/978-981-10-5021-3 035 $a(CKB)4100000000586962 035 $a(DE-He213)978-981-10-5021-3 035 $a(MiAaPQ)EBC5050548 035 $a(PPN)290438551 035 $a(EXLCZ)994100000000586962 100 $a20170920d2017 u| 0 101 0 $aeng 135 $aurnn#008mamaa 181 $ctxt$2rdacontent 182 $cc$2rdamedia 183 $acr$2rdacarrier 200 10$aJapan?s Lost Decade $eLessons for Asian Economies /$fedited by Naoyuki Yoshino, Farhad Taghizadeh-Hesary 205 $a1st ed. 2017. 210 1$aSingapore :$cSpringer Singapore :$cImprint: Springer,$d2017. 215 $a1 online resource (XIX, 176 p. 71 illus., 46 illus. in color.) 225 1 $aADB Institute Series on Development Economics,$x2363-9032 311 08$a981-10-5019-8 320 $aIncludes bibliographical references and index. 327 $a1 Japan?s Lost Decade: Causes and Remedies (Naoyuki Yoshino and Farhad Taghizadeh-Hesary) -- 2 Changes in Economic Effect of Infrastructure and Financing Methods: The Japanese Case (Masaki Nakahigashi and Naoyuki Yoshino) -- 3 Optimal Fiscal Policy Rule for Achieving Fiscal Sustainability: A Japanese Case Study (Naoyuki Yoshino, Tetsuro Mizoguchi, and Farhad Taghizadeh-Hesary) -- 4 Macroeconomic Volatility under High Accumulation of Government Debt: Lessons from Japan (Paul D. McNelis and Naoyuki Yoshino) -- 5 Japan?s Postwar Monetary Policies: Taylor Rules or Something Else? (James R. Rhodes and Naoyuki Yoshino) -- 6 Oil Price Fluctuations and Oil Consuming Sectors: An Empirical Analysis of Japan (Farhad Taghizadeh-Hesary, Naoyuki Yoshino, and Ehsan Rasolinezhad) -- 7 Three Arrows of ?Abenomics? and the Structural Reform of Japan (Naoyuki Yoshino and Farhad Taghizadeh-Hesary) -- 8 The Effectiveness of Japan?s Negative Interest Rate Policy (Naoyuki Yoshino, Farhad Taghizadeh?Hesary, and Hiroaki Miyamoto). Index. 330 $aThis book discusses Japan?s long-term economic recession and provides remedies for that recession that are useful for other Asian economies. The book addresses why Japan?s economy has stagnated since the bursting of its economic bubble in the 1990s. Its empirical analysis challenges the beliefs of some economists, such as Paul Krugman, that the Japanese economy is caught in a liquidity trap. This book argues that Japan?s economic stagnation stems from a vertical ?investment?saving? (IS) curve rather than a liquidity trap. The impact of fiscal policy has declined drastically, and the Japanese economy faces structural problems rather than a temporary downturn. These structural problems have many causes: an aging demographic (a problem that is frequently overlooked), an over-reliance by local governments on transfers from the central government, and Basel capital requirements that have made Japanese banks reluctant to lend money to start-up businesses and small and medium-sized enterprises. This latter issue has discouraged Japanese innovation and technological progress. All these issues are addressed empirically and theoretically, and several remedies for Japan?s long-lasting recession are provided. This volume will be of interest to researchers and policy makers not only in Japan but also the People?s Republic of China, many countries in the eurozone, and the United States, which may face similar challenges in the future. 410 0$aADB Institute Series on Development Economics,$x2363-9032 606 $aEconomic development 606 $aMacroeconomics 606 $aPopulation 606 $aEconomic Growth$3https://scigraph.springernature.com/ontologies/product-market-codes/W44000 606 $aMacroeconomics/Monetary Economics//Financial Economics$3https://scigraph.springernature.com/ontologies/product-market-codes/W32000 606 $aPopulation Economics$3https://scigraph.springernature.com/ontologies/product-market-codes/W38000 615 0$aEconomic development. 615 0$aMacroeconomics. 615 0$aPopulation. 615 14$aEconomic Growth. 615 24$aMacroeconomics/Monetary Economics//Financial Economics. 615 24$aPopulation Economics. 676 $a330.952 702 $aYoshino$b Naoyuki$4edt$4http://id.loc.gov/vocabulary/relators/edt 702 $aTaghizadeh-Hesary$b Farhad$4edt$4http://id.loc.gov/vocabulary/relators/edt 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910255038303321 996 $aJapan?s Lost Decade$92124947 997 $aUNINA