English, Article edition: Is the Japanese Crisis Over ? Stephanie Guichard

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Bookmark: http://trove.nla.gov.au/version/159923
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  • article
Language
  • English

Edition details

Title
  • Is the Japanese Crisis Over ?
Author
  • Stephanie Guichard
Physical Description
  • article
Notes
  • The good performance of the Japanese economy during the first half of 1999 was better than expected. But, it may only be tempo-rary. The present rebound is being led by an acceleration of household spending which appears to be very fragile. Furthermore, it has rapidly led to a rise in the yen that risks undermining continued growth. The room for manoeuvre of fiscal policy has been largely used up. At the same time, the Bank of Japan eschews any further relaxation of monetary policy. Yet the obstacles to growth are more fundamental. The Japanese model has not yet completed the transformation that would allow it to return to higher growth. The crisis and subsequent reforms of the banking system illustrate well Japan's present weakness, its problems of adaptation and the nature of the costs the transformation entails.
  • RePEc:cii:cepill:1999-183
Language
  • English
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