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Japan's Economic Slowdown and its Global Implications: A Review of the Economic Modelling

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  • Rod Tyers

    (Business School, University of Western Australia)

  • Jenny Corbett

    (Crawford School of Economics and Government Australian National University and St Antony's College Oxford)

Abstract

Despite its role as a driver of global economic growth through the 1970s, in recent decades the rise of China has seen the international importance of Japan’s economic performance recede from the public discourse. This is notwithstanding its continuing key role as economic partner to both industrial and developing countries and changes in its economic performance that would otherwise be a matter for global concern. In particular, the tendency for the Japanese economy and its external trade to stagnate not only has immediate consequences for global performance but it also foreshadows a path to industrial transition for other key Asian economies. This paper reviews quantitative studies of Japan’s performance. It identifies a paucity of results addressing global implications and suggests new research in this direction.

Suggested Citation

  • Rod Tyers & Jenny Corbett, 2011. "Japan's Economic Slowdown and its Global Implications: A Review of the Economic Modelling," Economics Discussion / Working Papers 11-19, The University of Western Australia, Department of Economics.
    • Handle: RePEc:uwa:wpaper:11-19
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    2. Mark Gertler & Jordi Gali & Richard Clarida, 1999. "The Science of Monetary Policy: A New Keynesian Perspective," Journal of Economic Literature, American Economic Association, vol. 37(4), pages 1661-1707, December.
    3. Asano, Akihito & Tyers, Rod, 2019. "Japan's oligopolies: Potential economy wide gains from structural reforms," Economic Modelling, Elsevier, vol. 82(C), pages 361-375.

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