Japan's Policy Trap: Dollars, Deflation, and the Crisis of Japanese Finance - Softcover

Akio Mikuni; R. Taggart Murphy

Softcover

ISBN 10: 081570223X ISBN 13: 9780815702238

Publisher: Brookings Institution Press, 2003

Synopsis

Japan's Policy Trap This work offers a provocative analysis of Japan's protracted economic stagnation. Japanese insider Akio Mikuni and long-term Japan resident R. Taggart Murphy contend that the country has landed in a policy trap that defies easy solution.

About this title

Review:

"An important new book..." --Hugo Restall, "The Asian Wall Street Journal", 10/25/2002

"Winner, 2002 Association of American Publishers Professional and Scholarly Publishing Award for Economics" -- "Award"

.".. a provocative new book." --John Thornhill, "Financial Times", 11/18/2002

"[The book has] many astute... observations about the Japanese economic and political system." --Richard N. Cooper, "Foreign Affairs", 5/1/2003

"many astute and sometimes provocative observations about the Japanese economic and political system." -- "Foreign Affairs"

Synopsis:

Until the beginning of the 21st century, the Japanese inspired a kind of puzzled awe. They had pulled themselves together from the ruin of war, built at breakneck speed a formidable array of export champions and emerged as the world's number two economy and largest net creditor nation. And they did so by flouting every rule of economic orthodoxy. Now only the puzzlement remains - at Japan's inability to arrest its economic decline, its festering banking crisis, and the dithering of its policymakers. Why can't the Japanese government find the political will to fix the country's problems? This book offers a provocative analysis of the country's protracted economic stagnation. Japanese insider Akio Mikuni and long-term Japan resident R. Taggart Murphy contend that the country has landed in a policy trap that defies easy solution. The authors, who have together spent decades at the heart of Japanese finance, expose the deep-rooted political arrangements that have distorted Japan's monetary policy in a deflationary direction.

About this edition

• Publisher: Brookings Institution Press
• Publication date: 2003
• ISBN 10: 081570223X
• ISBN 13: 9780815702238
• Binding: Paperback
• Number of pages: 304