Japan's Lost Decade: Policies for Economic Revival

This book assesses the current economic situation in Japan and provides a detailed evaluation of the key issues facing Japanese policymakers. It argues that an integrated policy strategy--comprising decisive bank and corporate restructuring in the context of supportive macroeconomic policies--is needed to lift the economy from its prolonged period of lackluster performance and to set the stage for sustained growth without deflation in the future. While welcoming the progress that the government of Prime Minister Koizumi has made in addressing the weaknesses in the Japanese economy, the book stresses that the reform strategy is not sufficiently comprehensive, and that implementation has been slower and less complete than hoped for.