Japan's Lost Decade: Policies for Economic Revival

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International Monetary Fund, 2003 - Business & Economics - 271 pages
For thirteen years excess capacity and debt have weighed down the Japanese economy. This weak economic performance has implications for the world economy as a whole and so the IMF has been involved in a dialogue with the Japanese authorities to identify the policies needed to bring it out of its slump. The papers in this book are part of the process of identifying the causes and proposing solutions. They examine the weakness of the financial sector; corporate restructuring and structural reforms; fiscal policy; monetary and exchange rate policy and the impact of Japanese economic policies on the rest of Asia. The overall conclusion is that although a start has been made on necessary reforms, much still needs to be done
 

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Contents

ADDRESSING FINANCIAL SECTOR WEAKNESSES
8
Current Issues Facing the Financial Sector
17
Banks and Credit in Japan
43
The Resolution and Collection Corporation and the Market
65
Structural Reforms Information Technology
80
Its Fiscal
113
Fiscal Policies During the Demographic Transition
136
An Evaluation of Its Effectiveness
164
The ZeroInterestRate Floor and Its Implications
179
Monetary Policy in a Deflationary Environment
206
Ramana Ramaswamy and Hossein Samiei
224
The Impact of Japanese Economic Policies
251
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