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What Went Right in Japan

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  • Adam S. Posen

    (Peterson Institute for International Economics)

Abstract

Japan is in a strong recovery. Real GDP growth will exceed 4 percent in 2004 and likely be 3 percent or higher in 2005 and perhaps even 2006. The economy also grew solidly between 2003Q1 and 2004Q2 at an average real annualized rate of 3.2 percent. The pace is sustainable, given Japan's underlying potential growth rate, which has risen to 2 to 2.5 percent per year, and the combination of catch-up growth closing the current output gap and reforms that will raise the growth rate for quarters to come (though not permanently).

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  • Adam S. Posen, 2004. "What Went Right in Japan," Policy Briefs PB04-06, Peterson Institute for International Economics.
    • Handle: RePEc:iie:pbrief:pb04-06
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    File URL: https://www.piie.com/publications/policy-briefs/what-went-right-japan
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    Cited by:

    1. Alan J. Auerbach & William G. Gale, 2009. "Activist fiscal policy to stabilize economic activity," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 327-374.
    2. Ms. Anita Tuladhar & Markus Bruckner, 2010. "Public Investment as a Fiscal Stimulus: Evidence from Japan’s Regional Spending During the 1990s," IMF Working Papers 2010/110, International Monetary Fund.
    3. Ralph Paprzycki, 2007. "The Determinants of and Prospects for Foreign Direct Investment in Japan," Hi-Stat Discussion Paper Series d07-211, Institute of Economic Research, Hitotsubashi University.

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