Japon : de la décennie perdue à un improbable New Deal
Abstract
Le contraste entre le succès des années quatre-vingt et la stagnation et l'incertitude des années quatre-vingt-dix au Japon a suscité nombre d'interprétations. L'article procède à une revue de littérature selon le caractère réel ou au contraire monétaire et financier des facteurs de crise d'une part, la prépondérance des aspects de court (erreurs de politique économique) ou épuisement de l'innovation et des sources de croissance de l'autre. L'hypothèse centrale est qu'il faut combiner ces divers facteurs, ce qui livre une caractérisation du caractère structurel et systémique de la crise japonaise: non-redressement de la rentabilité, absence de réduction des mauvaises dettes, multiplicité des recompositions institutionnelles. On oppose ainsi la trappe à liquidité keynésienne à la vision d'Irwin Fisher d'une crise déflationniste liée à la correction de l'excès d'endettement. Le point central de tout programme est, en effet, une récapitalisation et restructuration complète du système bancaire et financier, mais il importe de les compléter par une réforme de la dépense publique, de la couverture sociale, entre autre pour favoriser l'émergence d'un modèle anthropogénétique.Download Info
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.Bibliographic Info
Paper provided by CEPREMAP in its series CEPREMAP Working Papers (Couverture Orange) with number 0404.Length: 32 pages
Date of creation: 2004
Date of revision:
Handle: RePEc:cpm:cepmap:0404
Contact details of provider:
Postal: 142, rue du Chevaleret - 75013 PARIS
Phone: (331) 40 77 84 00
Fax: (331) 44 24 38 57
Web page: http://www.cepremap.ens.fr/
More information through EDIRC
Related research
Keywords:Find related papers by JEL classification:
- E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
- E63 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization; Treasury Policy
- E65 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Studies of Particular Policy Episodes
- O53 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East
References
References listed on IDEASPlease report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Reinhart, Carmen & Goldstein, Morris & Kaminsky, Graciela, 2000. "Assessing financial vulnerability, an early warning system for emerging markets: Introduction," MPRA Paper 13629, University Library of Munich, Germany.
- Larry Neal & Marc Weidenmier, 2002.
"Crises in the Global Economy from Tulips to Today: Contagion and Consequences,"
NBER Working Papers
9147, National Bureau of Economic Research, Inc.
- Larry Neal & Marc D. Weidenmier, 2001. "Crises in The Global Economy from Tulips to Today: Contagion and Consequences," Claremont Colleges Working Papers 2001-32, Claremont Colleges.
- Genda, Yuji & Rebick, Marcus E, 2000. "Japanese Labour in the 1990s: Stability and Stagnation," Oxford Review of Economic Policy, Oxford University Press, vol. 16(2), pages 85-102, Summer.
- Ramana Ramaswamy & Hossein Samiei, 2000. "The Yen-Dollar Rate - Have Interventions Mattered?," IMF Working Papers 00/95, International Monetary Fund.
- Keiichiro Kobayashi, 2003. "Debt Deflation and Bank Recapitalization," Discussion papers 03007, Research Institute of Economy, Trade and Industry (RIETI).
- Dekle, Robert, 2000. "Demographic Destiny, Per-Capita Consumption, and the Japanese Saving-Investment Balance," Oxford Review of Economic Policy, Oxford University Press, vol. 16(2), pages 46-60, Summer.
- Stephanie Guichard, 2000. "A la recherche des canaux perdus : trappe a liquidite et crise bancaire," Economie Internationale, CEPII research center, issue 84, pages 35-56.
- Park, Se-Hark, 2003. "Bad Loans and Their Impacts on the Japanese Economy: Conceptual And Practical Issues, and Policy Options," Discussion Paper Series a439, Institute of Economic Research, Hitotsubashi University.
Citations
Lists
This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.Statistics
Access and download statisticsCorrections
When requesting a correction, please mention this item's handle: RePEc:cpm:cepmap:0404For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Sébastien Villemot).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.