Japan 2001: Decisive Action or Financial Panic
AbstractJapan's economic tumult during March 2001 has prompted renewed fear of an impending crisis. Mixed macroeconomic data of the past months indicate that at least a brief recession is likely. To add to the panic, Japanese Finance Minister Kiichi Miyazawa announced on 8 March that Japanese government finances are "very close to collapsing." The Bush-Mori summit of 19 March, and the Bank of Japan (BOJ) rate cut earlier that day, raised both hopes and skepticism that Japanese officials were preparing to address their fragile banking system. Transpacific pundits have once again begun to chant, "Ah! At last true crisis will come to Japan and force change."
Download InfoIf 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 InfoPaper provided by Peterson Institute for International Economics in its series Policy Briefs with number PB01-04.
Date of creation: Apr 2001
Date of revision:
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Adam S. Posen, 2001. "Finance and Changing US-Japan Relations: Convergence Without Leverage--Until Now," Working Paper Series, Peterson Institute for International Economics WP01-8, Peterson Institute for International Economics.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Peterson Institute webmaster).
If references are entirely missing, you can add them using this form.