Japan's Great Stagnation and Abenomics Lessons for the World [Hardcover]

As the global Great Recession continues, policymakers, economists, and the public are turning to Japenses economic revitalization for answers. Paul Krugman, Nobel laureate in Economics, once said that Japan was a full-dress rehearsal for the current crisis. Japan has experienced and valiantly overcome the burst of their Bubble economy, financial crisis, lukewarm recovery, and more than a decade-long deflation and stagnation to become one of the most stable economies today.

Japan's Great Stagnation and Abenomics reveals the striking similarities of economic events and policies between the Great Stagnation and the current Great Recession. It also suggests possible dangers ahead and way-outs in the future. This exciting new volume is based on Wakatabe's expertise in economic history and the history of economic ideas and argues that any policy decision is related to cultural ideology. An investigation into the relationship between cultural ideology and policy helps us better understand the policy-making process.
1. Introduction: Once It happened in Japan 2. Thirty Years' Economic Crisis 3. Thirty Years' Intellectual Crisis 4. Shadow of History: What We Could Still Learn From the Great Depression of the 1930s 5. The Future Again? The Assessment of Abenomics 6. Concluding Remarks: Beware of Japanization

Masazumi Wakatabe have written the best book to date on the Japanese economic crisis and Shinjo Abes campaign to resolve it. & it deserves a wide audience among Japan specialists and general readers alike. & The global financial crisis, like Japans great stagnation, is a reminder that macroeconomic analysis needs to be informed by economic history and the history of economic thought. Japans Great Stagnation and Abenomics is a textbook example of how this should be done. (Barry Eichengreen, Japanese Journal of Political Science, Vol. 17, 2015)

The initiative of 'Abenomics' led by Prime Minister ShinlÓj