LEADER 03048nam 2200505Ia 450 001 9910465005903321 005 20170821160836.0 010 $a1-4623-7593-6 010 $a1-4527-5913-8 010 $a1-282-84469-5 010 $a9786612844690 010 $a1-4518-7427-8 035 $a(CKB)3390000000010772 035 $a(EBL)1606017 035 $a(OCoLC)671571347 035 $a(MiAaPQ)EBC1606017 035 $a(EXLCZ)993390000000010772 100 $a20100902d2009 uf 0 101 0 $aeng 135 $aur|n|---||||| 200 10$aLost decade in translation$b[electronic resource] $ewhat Japan's crisis could portend about recovery from the great recession /$fMurtaza Syed, Kenneth Kang, Kiichi Tokuoka 210 $a[Washington, D.C.] $cInternational Monetary Fund$d2009 215 $a1 online resource (42 p.) 225 1 $aIMF working paper ;$vWP/09/282 300 $aDescription based upon print version of record. 320 $aIncludes bibliographical references. 327 $aContents; 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 327 $aIII. 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 330 $aIs the recovery from the global financial crisis now secured? A strikingly similar crisis that stalled Japan's growth miracle two decades ago could provide some clues. This paper explores the parallels and draws potential implications for the current global outlook and policies. Japan's experiences suggest four broad lessons. First, green shoots do not guarantee a recovery, implying a need to be cautious about the outlook. Second, financial fragilities can leave an economy vulnerable to adverse shocks and should be resolved for a durable recovery. Third, well-calibrated macroeconomic stimulus 410 0$aIMF working paper ;$vWP/09/282. 606 $aFinancial crises$zJapan 607 $aJapan$xEconomic policy 608 $aElectronic books. 615 0$aFinancial crises 700 $aSyed$b Murtaza$f1975-$0907256 701 $aKang$b Kenneth$0967759 701 $aTokuoka$b Kiichi$0918417 712 02$aInternational Monetary Fund. 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910465005903321 996 $aLost decade in translation$92197739 997 $aUNINA