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Japanese Society under Marketization and Globalization

In: Changing Japanese Business, Economy and Society

Author

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  • Takanobu Nakajima

Abstract

Who could have imagined the miserable performance the Japanese economy has displayed since the 1990s? The average real GDP growth rate during the 1990s was 1.4 per cent, and the unemployment rate reached 5 per cent in July 2001. The recession period after the bursting of the bubble in 1991 has been called the lost ten years. What was wrong during that time? Many hypotheses have been presented: demand shortage, policy failure, bad loans, and a pessimistic view of the future. The truth may not be known for another ten years.

Suggested Citation

  • Takanobu Nakajima, 2004. "Japanese Society under Marketization and Globalization," Palgrave Macmillan Books, in: Masao Nakamura (ed.), Changing Japanese Business, Economy and Society, chapter 10, pages 203-219, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-52404-0_10
    DOI: 10.1057/9780230524040_10
    as

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