Dos experiencias económicas: Japón y Estados Unidos desde 1990

After Japan''''s strong economic growth as from the end of World War II and the deceleration of American economy on account of the oil crisis, the nineteen-nineties have witnessed a reversal of prevailing economic expectations around the end of nineteen-eighties for the USA Japan. In this work we intend to point out certain underlying factors to the tremendously differentiated economic growth standards in these two countries as from 1990. In general terms, on one hand, the prolonged American economic expansion and its ulterior soft recession phase are explained by an intensive increase in productivity, above all due to the production and dissemination of information and communication technologies. On the other hand, in Japan, macroeconomic effects of the bursting of the real-estate and stock exchange bubbles in the nineteen-nineties combined with the inherent fragility of the Japanese economic model, with its strongly idiosyncratic characteristics, bringing about a situation of economic stagnation and deflation.