Book chapter contributed by 2010 Abe Fellow Etsuro Shioji in Randall Parker and Robert Whaples’ edited volume, Routledge Handbook of Major Events in Economic History. This chapter is based on Shioji’s project, “The Global Trade and Output Collapse of the 2008-2009 Period: Cross Country Comparison Based on Japanese Experiences.”
The Handbook of Major Events in Economic History aims to introduce readers to the important macroeconomic events of the past two hundred years. The chapters endeavour to explain what went on and why during the most significant economic epochs of the nineteenth, twentieth and early twenty-first centuries and how where we are today fits in this historical timeline. Its short chapters reflect the most up-to-date research and are written by well-known economists who are authorities on their subjects.