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Japan's Economic Revival
Policy Challenges in a Globalized World
 
 
Publisher: Palgrave Macmillan
Co-publisher: IMF
 
 
 
 
 
09 Oct 2008
|
£80.00
|Hardback Print on Demand
  
9780230219328
||
 
 
eBooks ebook available via library subscriptions ebook on ebooks.com 
 
 


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DescriptionContentsAuthors

How should Japan cope with the challenges posed by a shrinking and ageing population and the quickening pace of globalization? Japan has largely overcome the legacies of the post-bubble economy of the 1990s, but ongoing demographic changes and greater financial and trade integration with the global economy call for policies that foster competitiveness, increase resilience to shocks, and safeguard growth prospects. Japan's policymakers face many challenges going into the future, and a debate continues as to what form the necessary policies should take.
This book brings together a range of contributions from IMF economists to further the ongoing policy debate. Offering a comprehensive analysis of Japan's recent recovery from a decade-long period of economic stagnation, this volume also provides an overview of the unfinished policy issues and the unfinished agenda, as well as the international spillovers of Japan's policies. With opinions and research from top IMF experts in the area, this book is essential reading for all interested in the resurgence of Japan's economy and the policy debates which will determine its future.


Description

How should Japan cope with the challenges posed by a shrinking and ageing population and the quickening pace of globalization? Japan has largely overcome the legacies of the post-bubble economy of the 1990s, but ongoing demographic changes and greater financial and trade integration with the global economy call for policies that foster competitiveness, increase resilience to shocks, and safeguard growth prospects. Japan's policymakers face many challenges going into the future, and a debate continues as to what form the necessary policies should take.
This book brings together a range of contributions from IMF economists to further the ongoing policy debate. Offering a comprehensive analysis of Japan's recent recovery from a decade-long period of economic stagnation, this volume also provides an overview of the unfinished policy issues and the unfinished agenda, as well as the international spillovers of Japan's policies. With opinions and research from top IMF experts in the area, this book is essential reading for all interested in the resurgence of Japan's economy and the policy debates which will determine its future.


Contents

Foreword; J.Lipsky
Acknowledgements
Overview; D.A.Citrin and A.Zanello
PART I: GROWTH AND DEMOGRAPHICS
Japan's Potential Output and Productivity Growth; P.N'Diaye
Household Savings in Japan; H.Edison
PART II: FISCAL POLICY CHALLENGES
Strategies for Fiscal Consolidation; D.Botman, H.Edison and P.N'Diaye
Tax Policy Challenges from Globalization and Aging: Issues and Options; M.Keen
Pension Reform Issues; D.Iakova
PART III: MONETARY POLICY AFTER DEFLATION
A Post-Deflation Monetary Framework; C.Kramer and M.Stone
Practical Issues Surrounding the New Understanding of Price Stability; C.Faulkner-MacDonagh
PART IV: THE RISE IN CROSS-BORDER CAPITAL FLOWS
Home Bias in Japan; W.C.Walker
Recent Developments and Outlook for Japan's Capital Flows; S.Nakagawa and C.Faulkner-MacDonagh
PART V: CHALLENGES FOR THE BANKING SECTOR
Why is Japanese Banking Sector Profitability so Low?; A.Wolfson
The Reemergence of Japanese Banks in Asia; S.Nakagawa
PART VI: STRUCTURAL REFORMS
Priorities for Structural Reform; Y.Khatri
Agricultural Policies in Japan: Domestic and International Repercussions; B.McDonald
PART VII: INTERNATIONAL SPILLOVERS
The Domestic and Global Impact of Japan's Policies for Growth; N.Batini, P.N'Diaye and A.Rebucci
Capital Flows and the Yen-U.S. Dollar Exchange Rate; P.N'Diaye


Authors

DANIEL ALAN CITRIN is Deputy Director of the IMF's Asia and Pacific Department. Since 2004 he has had primary responsibility for IMF work on Japan. He holds an undergraduate degree from the University of California at Berkeley and graduate degrees from the University of Michigan.

ALESSANDRO ZANELLO is Assistant Director at the IMF, where he led the team of economists working on Japan from 2005 to 2007. He holds a Masters degree from the University of Oxford and a doctorate from the Massachusetts Institute of Technology.