IDEAS home Printed from https://ideas.repec.org/h/pal/palchp/978-1-349-12812-9_1.html
   My bibliography  Save this book chapter

The Yen Appreciation and the Japanese Economy

In: The Yen Appreciation and the International Economy

Author

Listed:
  • Dilip K. Das

Abstract

Following the collapse of the Bretton Woods regime, the economic and financial turmoils of the 1970s and the recession that set in in 1979, the international economy, particularly that of the industrialised countries, entered a palmy period of economic expansion in 1982. This was not to be a mere short-term upswing but a new phase of dynamic growth driven by technological innovation and bearish oil prices that continued uninterrupted for the rest of the decade. The level of oil prices is a significant variable because according to an estimate a 20 per cent decline in the oil prices raised the growth rate by 0.2 per cent in the industrialised economies during this period.1 The flexible exchange rate regime, liberalised capital markets and freer capital movements had increased the interaction of economic policies — especially monetary policies — among the industrialised market economies as well as internationalised the capital markets. In such an economic milieu, which was becoming something approaching laissez faire and for a while Adam Smith seemed to be running the show, the exchange rates could well become dominated by capital flows and the natural operation of market forces could work to undermine the exchange rate and balance of payments adjustment mechanism which the neoclassical economists assume.

Suggested Citation

  • Dilip K. Das, 1993. "The Yen Appreciation and the Japanese Economy," Palgrave Macmillan Books, in: The Yen Appreciation and the International Economy, chapter 1, pages 1-36, Palgrave Macmillan.
  • Handle: RePEc:pal:palchp:978-1-349-12812-9_1
    DOI: 10.1007/978-1-349-12812-9_1
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Andrea Fracasso, 2015. "Economic Rebalancing and Growth: the Japanese experience and China’s prospects," DEM Discussion Papers 2015/07, Department of Economics and Management.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:palchp:978-1-349-12812-9_1. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.