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Palgrave Macmillan Studies in Economics and Banking

Lost Decades in Growth Performance

Causes and Case Studies

Editors: Chu, Y. (Ed.)

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About this book

There have been many noticeable incidents of 'lost decades' in economic growth, occurring in countries across the world. It has been found that in many economies, the lost decade phenomenon persists, even after the conventional set of contributing factors such as per capita income, fertility rate, life expectancy, rule of law, educational attainment, ratio of investment to national income, and openness have been taken into account. This book explains where and how these lost decades in economic growth occur in the world. The authors identify that dominant macroeconomic factors contributing to their occurrence are an abnormal supply of credits relative to national income, and poor demand management. The study pays special attention to the cases of Japan, South Korea and Taiwan, exploring their specific cases and analyzing contributing factors. While Japan suffered from excessive credit prior to the bubble bursting, and from insufficient domestic demand subsequently, Korea's growth has been stunted through structural imbalances between and within industries, as well as through changes in the orientation of public policies from growth to equality. Adversely, reduced economic growth in Taiwan has led from its populism-ridden democracy and mass media, as well as from internal disputes over national identity. Lost Decades in Growth Performance provides a revealing insight into the factors affecting economic growth across the world, and will be an invaluable resource for anyone with an interest in global and Asian economics. It also offers a fundamental source of reference for students and academics in general equilibrium models, economic development and East Asian economies.

About the authors

Yun-Peng Chu, ex-Minister without Portfolio, is Professor of Economics at the National Central University, Taiwan. He has published articles in journals such as the American Economic Review and Journal of Development Economics, and co-edited many books including The Political Economy of Comparative Development into the 21st Century and The East Asia High-Tech Drive.

Table of contents (7 chapters)

  • Excessive Credits and the “Lost Decades” in Growth Performance

    Chu, Yun-Peng

    Pages 1-19

  • A Third Decade of Low Growth? Lessons from Japan on Financial Management and Economic Growth

    Werner, Richard A.

    Pages 20-52

  • It’s not Structural Change, but Domestic Demand: Japan’s Productivity Growth

    Kohsaka, Akira (et al.)

    Pages 53-74

  • Long Waves of Prosperity and Decline: What Makes Financial-Led Capitalism Different?

    Dejuán, Óscar

    Pages 75-96

  • The Korean Economy: Structural Changes and Challenges

    Woo, Cheonsik (et al.)

    Pages 97-112

Buy this book

eBook $89.00
price for USA (gross)
  • ISBN 978-1-137-47875-7
  • Digitally watermarked, DRM-free
  • Included format: EPUB, PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $115.00
price for USA
  • ISBN 978-1-137-47874-0
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
Softcover $115.00
price for USA
  • ISBN 978-1-349-50233-2
  • Free shipping for individuals worldwide
  • This title is currently reprinting. You can pre-order your copy now.

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Bibliographic Information

Bibliographic Information
Book Title
Lost Decades in Growth Performance
Book Subtitle
Causes and Case Studies
Editors
  • Y. Chu
Series Title
Palgrave Macmillan Studies in Economics and Banking
Copyright
2015
Publisher
Palgrave Macmillan UK
Copyright Holder
Palgrave Macmillan, a division of Macmillan Publishers Limited
eBook ISBN
978-1-137-47875-7
DOI
10.1057/9781137478757
Hardcover ISBN
978-1-137-47874-0
Softcover ISBN
978-1-349-50233-2
Edition Number
1
Number of Pages
XVIII, 249
Topics