Book chapter contributed by 2000 Abe Fellow David Flath in Magnus Blomstrom, Jennifer Corbett, Fumio Hayashi, and Anil Kashyap’s edited volume, Structural Impediments to Growth in Japan. This chapter is based on Flath’s project, “The Japanese Marketing System and U.S.-Japan Trade and Investment.”
As Japan’s decade-long economic stagnation continues, there has been much analysis of the immediate macroeconomic problems that confront the Japanese economy. This book looks past the short-run challenges to the future of Japan and highlights the intermediate and longer-term issues that country faces.
In this, the first book-length academic treatment of this important issue, a team of notable contributors present nine papers, offering a comprehensive assessment of those economic difficulties and addressing a range of specific issues, from financial restructuring and the impact of the aging Japanese population to corporate behavior, public lending, employment practices, and innovative capacity. In each paper, contributors clearly identify and outline problems and concerns, carefully pose provocative questions, and in many instances present concrete suggestions for improvement.
The resulting volume is a timely and important examination of critical issues for Japan’s stalling economy, packed with both telling data and expert analysis and offering valuable perspectives on Japan’s current obstacles.