LEADER 05596oam 22012014 450 001 9910788712903321 005 20230721033707.0 010 $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(IMF)WPIEE2009282 035 $a(EXLCZ)993390000000010772 100 $a20020129d2009 uf 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt$2rdacontent 182 $cc$2rdamedia 183 $acr$2rdacarrier 200 10$a?Lost Decade? in Translation - What Japan?s Crisis could Portend about Recovery from the Great Recession /$fKiichi Tokuoka, Murtaza Syed, Kenneth Kang 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2009. 215 $a1 online resource (42 p.) 225 1 $aIMF Working Papers 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 3 $aIs the recovery from the global financial crisis now secured? A strikingly similar crisis that stalled Japan's growth miracle two decades ago could provide some clues. This paper explores the parallels and draws potential implications for the current global outlook and policies. Japan's experiences suggest four broad lessons. First, green shoots do not guarantee a recovery, implying a need to be cautious about the outlook. Second, financial fragilities can leave an economy vulnerable to adverse shocks and should be resolved for a durable recovery. Third, well-calibrated macroeconomic stimulus can facilitate this adjustment, but carries increasing costs. And fourth, while judging the best time to exit from policy support is difficult, clear medium-term plans may help. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2009/282 606 $aFinancial crises$zJapan 606 $aAccounting$2imf 606 $aBanks and Banking$2imf 606 $aFinance: General$2imf 606 $aMoney and Monetary Policy$2imf 606 $aPublic Finance$2imf 606 $aBanks$2imf 606 $aDepository Institutions$2imf 606 $aMicro Finance Institutions$2imf 606 $aMortgages$2imf 606 $aPublic Administration$2imf 606 $aPublic Sector Accounting and Audits$2imf 606 $aMonetary Policy, Central Banking, and the Supply of Money and Credit: General$2imf 606 $aGeneral Financial Markets: Government Policy and Regulation$2imf 606 $aDebt$2imf 606 $aDebt Management$2imf 606 $aSovereign Debt$2imf 606 $aBanking$2imf 606 $aFinancial reporting, financial statements$2imf 606 $aMonetary economics$2imf 606 $aFinance$2imf 606 $aPublic finance & taxation$2imf 606 $aFinancial statements$2imf 606 $aCredit$2imf 606 $aDistressed assets$2imf 606 $aPublic debt$2imf 606 $aBanks and banking$2imf 606 $aFinance, Public$2imf 606 $aDebts, Public$2imf 607 $aJapan$xEconomic policy 607 $aJapan$2imf 615 0$aFinancial crises 615 7$aAccounting 615 7$aBanks and Banking 615 7$aFinance: General 615 7$aMoney and Monetary Policy 615 7$aPublic Finance 615 7$aBanks 615 7$aDepository Institutions 615 7$aMicro Finance Institutions 615 7$aMortgages 615 7$aPublic Administration 615 7$aPublic Sector Accounting and Audits 615 7$aMonetary Policy, Central Banking, and the Supply of Money and Credit: General 615 7$aGeneral Financial Markets: Government Policy and Regulation 615 7$aDebt 615 7$aDebt Management 615 7$aSovereign Debt 615 7$aBanking 615 7$aFinancial reporting, financial statements 615 7$aMonetary economics 615 7$aFinance 615 7$aPublic finance & taxation 615 7$aFinancial statements 615 7$aCredit 615 7$aDistressed assets 615 7$aPublic debt 615 7$aBanks and banking 615 7$aFinance, Public 615 7$aDebts, Public 700 $aTokuoka$b Kiichi$01476613 701 $aSyed$b Murtaza$01462061 701 $aKang$b Kenneth$01563284 712 02$aInternational Monetary Fund. 801 0$bDcWaIMF 906 $aBOOK 912 $a9910788712903321 996 $a?Lost Decade? in Translation - What Japan?s Crisis could Portend about Recovery from the Great Recession$93831553 997 $aUNINA