일본 장기침체의 정치경제
The political economy of 'the lost decade' in Japan
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Abstract
Japanese long stagnation in 1990s has been resulted from the non-performing loans problem, its policy failures, the East Asian Financial Crises, and the deepening of deflation. Delays in the disposal of non-performing loans prolonged deflation and deflation has still been persistent. To build a more robust financial system to support economic activity, measures must be taken to accelerate disposal of non-performing loans. The first step toward economic revitalization is the definite and final disposal of non-performing loans. And more rigorous measures must be taken to deal with deflation. The Koizumi government has tried to accelerate structural reform("no growth without reform") to revitalize the economy. Therefore the Japanese economy will recover from the long tunnel of slow down if these tasks can be solved simultaneously and that it will be able to play a positive and significant role in the international economy.
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