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Macroeconomic Changes

  • Takafusa Nakamura
  • Gerd Hardach
Part of the St Antony’s/Macmillan Series book series

Abstract

In analysing the patterns of change in the postwar Japanese economy, it is convenient to divide the nearly forty years between 1945 and 1985 into three periods. The first began with Japan’s surrender in World War II and ended with its recovery of independence in May 1952. During this period, the Japanese government was subordinate to the Supreme Commander for Allied Powers (SCAP) under whose authority and direction drastic political, social and economic reforms were undertaken with a view to democratizing the country. From an economic point of view, this period can be characterized as one of postwar rehabilitation and recovery. Industrial production hit the bottom in 1946 at about 25 per cent of the prewar peak level — 1934–6 — but recovered that level in 1951. By the latter year, household consumption, too, had recovered to about 90 per cent of the prewar level.

Keywords

Gross Domestic Product Monetary Policy Economic Change Liberal Democratic Party Constant Prex 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Notes

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Copyright information

© Haruhiro Fukui and Peter H. Merkl 1993

Authors and Affiliations

  • Takafusa Nakamura
  • Gerd Hardach

There are no affiliations available

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