Semantic Scholar Open Access 2002 916 sitasi

The 1990s in Japan: A Lost Decade

Fumio Hayashi Edward C. Prescott

Lihat Sumber DOI

Abstrak

This paper examines the Japanese economy in the 1990s, a decade of economic stagnation. We find that the problem is not a breakdown of the financial system, as corporations large and small were able to find financing for investments. There is no evidence of profitabkle investment opportunities not being exploited due to lack of access to capital markets. The problem then and still today is a low productivity growth rate. Growth theory, treating TFP as exogenous, accounts well for the Japanese lost decade of growth. We think that research effort should be focused on what policy change will allow productivity to again grow rapidly. (Copyright: Elsevier)

Topik & Kata Kunci

Economics

Penulis (2)

Fumio Hayashi

Edward C. Prescott

Format Sitasi

APA MLA BibTeX

Hayashi, F., Prescott, E.C. (2002). The 1990s in Japan: A Lost Decade. https://doi.org/10.1006/REDY.2001.0149

Akses Cepat

Lihat di Sumber doi.org/10.1006/REDY.2001.0149

Informasi Jurnal

Tahun Terbit: 2002
Bahasa: en
Total Sitasi: 916×
Sumber Database: Semantic Scholar
DOI: 10.1006/REDY.2001.0149
Akses: Open Access ✓