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Japan’s reform policies in the “lost decade”

Japan’s reform policies in the “lost decade” Asia Eur J (2010) 8:113–118 DOI 10.1007/s10308-010-0251-1 BOOK REVIEW Albrecht Rothacher Published online: 30 May 2010 Springer-Verlag 2010 In Japan, infamously, a burst asset speculation boom was followed by a lost decade of 13 reflation programmes undertaken during 1992–2002. Much as Japan had been able to do right as a global role model during her high growth era, including her mastery of the two oil crises in the 1970s, during this fateful decade, seemingly, Japan managed to get everything wrong. Yet the lost decade was also one of intense policy reform and debate with more profound results than imaginable during the era of complacency and self-congratulation of the prior period of success. Although Japan has attracted much less academic and public interest since, the world being more fascinated by the new success stories of China and latterly India, the thrust of Japan’s reform policies, the trials and errors of her economic policies and their political consequences—the near dismantling of the iron triangle which held and controlled political, economic, and administrative power for so long—holds interesting lessons about the political dos and don’ts in saturated mature democracies, worthwhile to study and to read—provided that there is readable literature on the http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Asia Europe Journal Springer Journals

Japan’s reform policies in the “lost decade”

Rothacher, Albrecht
Asia Europe Journal , Volume 8 (1) – May 30, 2010
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Publisher
Springer Journals
Copyright
Copyright © 2010 by Springer-Verlag
Subject
Social Sciences; Social Sciences, general; International Economics
ISSN
1610-2932
eISSN
1612-1031
DOI
10.1007/s10308-010-0251-1
Publisher site
See Article on Publisher Site

Abstract

Asia Eur J (2010) 8:113–118 DOI 10.1007/s10308-010-0251-1 BOOK REVIEW Albrecht Rothacher Published online: 30 May 2010 Springer-Verlag 2010 In Japan, infamously, a burst asset speculation boom was followed by a lost decade of 13 reflation programmes undertaken during 1992–2002. Much as Japan had been able to do right as a global role model during her high growth era, including her mastery of the two oil crises in the 1970s, during this fateful decade, seemingly, Japan managed to get everything wrong. Yet the lost decade was also one of intense policy reform and debate with more profound results than imaginable during the era of complacency and self-congratulation of the prior period of success. Although Japan has attracted much less academic and public interest since, the world being more fascinated by the new success stories of China and latterly India, the thrust of Japan’s reform policies, the trials and errors of her economic policies and their political consequences—the near dismantling of the iron triangle which held and controlled political, economic, and administrative power for so long—holds interesting lessons about the political dos and don’ts in saturated mature democracies, worthwhile to study and to read—provided that there is readable literature on the

Journal

Asia Europe Journal – Springer Journals

Published: May 30, 2010

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