The Japanese Economy in Transition: Introduction and Overview
The performance of the Japanese economy, especially its strong international competitiveness in export markets resulting in a huge trade surplus, has led foreign observers to perceive that Japan’s economy works differently from those of Western industrial countries. If that perception is correct, in what way does the whole Japanese economic system differ from those of other industrial economies? Should the distinctive features of the system be regarded over recent years as changing because of various forces: for example, by experiencing in the early 1990s the deepest depression in post-war history and facing increased internationalization in transactions? These are the general themes that run through much of the book. In this overview chapter, Section 1.1 reviews major developments in the Japanese economy since 1980, providing a general background to the understanding of the structure of the economy; Section 1.2 explains the aims and methodology used in this book; and Section 1.3 provides summaries of the papers together with some general conclusions emerging from them.
KeywordsMonetary Policy Central Bank Japanese Firm Current Account Balance Financial Liberalization
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