Abstract
Each in its own way, France, Germany and Japan have had to make substantial adjustments in economic policy and political orientation in the years since 1980. France shifted away from Mitterrand’s socialist electoral programme of 1981 towards the policies of Thatcher and Reagan. Germany had to adjust to the economic shock of unification and absorption of the former East Germany. Japan became a major capital exporter but in the late 1980s went on a speculative spree at home that gave way to its most severe recession since before World War II while also undergoing a political upheaval.
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Notes
D. Singer, Is Socialism Doomed?: The Meaning of Mitterrand ( New York: Oxford University Press, 1988 ) pp. 78–92.
P. Favier and M. Martin-Roland, La Décennie Mitterrand (Paris: Editions Du Seuil, 1991 ) vol. 2, p. 389.
C. Imbert, ‘The End of French Exceptionalism’, Foreign Affairs 68 (Fall 1989), pp. 48–60.
M. Kreile, ‘The Political Economy of the New Germany’, in P.B. Stares, (ed.), The New Germany and the New Europe ( Washington: The Brookings Institution, 1992 ) p. 55.
C. Wood, The Bubble Economy ( New York: The Atlantic Monthly Press, 1992 ) p. 50.
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© 1994 Robert Solomon
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Solomon, R. (1994). Adjusting to Shocks in France, Germany and Japan. In: The Transformation of the World Economy, 1980–93. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-23675-6_5
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DOI: https://doi.org/10.1007/978-1-349-23675-6_5
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-23677-0
Online ISBN: 978-1-349-23675-6
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