In the Shadow of the Miracle: The Japanese Economy Since the End of High-speed Growth

Front Cover
Lexington Books, May 28, 2003 - Business & Economics - 347 pages
Japan is living in the shadow of its economic miracle. Its stagnation and decline relative to other advanced economies since the early 1990s is a consequence of business and government difficulty in breaking away from once-successful practices. The Japanese postwar economic miracle created the world's second largest capitalist economy. This remarkable performance, in the face of such enormous obstacles, helped solidify, even sanctify, the institutions, methods, and political arrangements associated with the economic miracle. Based upon a decade of research articles distributed in the Japan Economic Institute's weekly report on Japan, In the Shadow of the Miracle analyzes the sources of Japanese growth and the nature and scale of its current economic problems. Chapters examine the steps being taken by Japan's government and business leaders to address the mounting national economic problems and the impact on Japan of the wider Asian financial crisis (1997-99). A final section addresses the question of whether Japan is fundamentally different from other advanced economies.
 

What people are saying - Write a review

We haven't found any reviews in the usual places.

Contents

An Economy in Transition
10
The Economy in the Twentieth Century
19
Japan as Number Three LongTerm Productivity Problems
39
Investment
57
Basic Research and Science
75
International Capital Flows
93
The LongRun Behavior of the Yen
115
Japans Foreign Direct Investment in the United States
139
Structural Change and Adaptation
217
Deregulation in Aviation
229
Is Japan an Outlier?
255
Americas Images of Japan
273
Revisionism Revisited
297
LongTerm Prospects
319
Bibliography
331
Index
343

Foreign Direct Investment in Japan
163
USJapan Relations Viewed through Events Data
189
About the Author
Copyright

Other editions - View all

Common terms and phrases

References to this book

About the author (2003)

Arthur J. Alexander was President of the Washington, D.C. based Japan Economic Institute of America from 1990 to the Institute's closing in 2000. He is currently a visiting professor at Georgetown University and has taught at George Mason University, John Hopkins University's School of Advanced International Studies, the University of California, Los Angeles, and the Rand Graduate School.

Bibliographic information