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The Tradition of Change in Japan

  • Magnus Blomstrum
  • Byron Gangnes

    ()

    (Department of Economics, University of Hawaii at Manoa)

  • Sumner La Croix

    ()

    (Department of Economics, University of Hawaii at Manoa)

Japan's slow growth in the 1990s has raised concerns that Japanese political and economic institutions are not responding effectively to domestic problems and increased global competition. But Japan's stagnant macroeconomic performance masks structural changes and economic reforms now underway. These changes are gradually transforming Japanese institutions from their traditional role as supports for catch-up growth to the needs of a mature economy. This paper is the introduction to a forthcoming volume that takes a forward-looking view at important trends for the coming decade and their implications for Japan, its markets and its relationship with the world.

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File URL: http://www.economics.hawaii.edu/research/workingpapers/011.pdf
File Function: First version, 2000
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Paper provided by University of Hawaii at Manoa, Department of Economics in its series Working Papers with number 200011.

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Length: 26 pages
Date of creation: 2000
Date of revision:
Publication status: Published in Magnus Blomström, Byron Gangnes and Sumner La Croix, eds., Japan’s New Economy: Continuity and Change in the 21st Century, Oxford University Press, 2000.
Handle: RePEc:hai:wpaper:200011
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  1. Paul R. Krugman, 1998. "It's Baaack: Japan's Slump and the Return of the Liquidity Trap," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 29(2), pages 137-206.
  2. Howe, Christopher, 1996. "The Origins of Japanese Trade Supremacy," University of Chicago Press Economics Books, University of Chicago Press, edition 0, number 9780226354859.
  3. Takatotshi Ito, 1996. "Japan and the Asian Economies: A 'Miracle' in Transition," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 27(2), pages 205-272.
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