Books from the IMF

• Pages: 3

Page 3

Japan's Lost Decade: Policies for Economic Revival

Edited by Tim Callen and Jonathan D. Ostry

It has been 13 years since the bursting of the asset price bubble in Japan, yet the economy remains weighed down by excess capacity and debt, anemic growth, and entrenched deflationary pressures. If Japan's weak growth continues, this would affect not only its own people but also the world economy generally, given Japan's importance as a trading partner and supplier of capital.

Japan's Lost Decade: Policies for Economic Revival evaluates the key issues facing the Japanese economy and policymakers. The book argues that an integrated policy strategy- combining decisive bank and corporate restructuring with supportive macroeconomic policies-is needed to lift the economy from its prolonged period of lackluster performance. While welcoming the progress that the Koizumi government has made in addressing the weaknesses in the Japanese economy, the book stresses that the reform...