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Japan's Crisis: Evolution and Implications

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  • Whittaker, D Hugh
  • Kurosawa, Yoshitaka

Abstract

Model-causes-crisis, crisis-ends-model arguments are misleading, both for Japan and East Asia. The sources of Japan's financial crisis are traced to the (partial) liberalization process and policy mistakes of the 1980s, although systemic characteristics may have impeded the cleanup of the resulting asset bubble. The 'Japanese model' is undergoing rapid change at the macro and micro levels, with significant implications for East Asia. Copyright 1998 by Oxford University Press.

Suggested Citation

  • Whittaker, D Hugh & Kurosawa, Yoshitaka, 1998. "Japan's Crisis: Evolution and Implications," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 22(6), pages 761-771, November.
  • Handle: RePEc:oup:cambje:v:22:y:1998:i:6:p:761-71
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    Cited by:

    1. Gedajlovic, E.R. & Yoshikawa, T. & Hashimoto, M., 2001. "Ownership Structure, Investment Behavior and Firm Performance in Japanese Manufacturing Industries," ERIM Report Series Research in Management ERS-2001-09-STR, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus University Rotterdam.
    2. Yudaeva, Ksenia & Godunova, Maria & Kozlov, Konstantin & Ivanova, Nadezhda, 2009. "Exit strategies from the banking crisis: international experience," Ekonomicheskaya Politika / Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 3, pages 98-149, June.
    3. Kitzmann, Robert, 2014. "Die japanische Land- und Immobilienspekulationsblase der 1980er Jahre und ihre Auswirkungen auf die Stadtentwicklung Tokios," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, pages 223-238.
    4. Wali Ullah, 2017. "Evolving corporate governance and firms performance: evidence from Japanese firms," Economics of Governance, Springer, vol. 18(1), pages 1-33, February.
    5. Chang-Gun Park, 2006. "Japan's Leadership Shifts: From the East Asian Crisis to the Establishment of an ASEAN + 3 Summit," International Area Studies Review, Center for International Area Studies, Hankuk University of Foreign Studies, vol. 9(1), pages 87-109, March.

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