Recommended Readings from IMF Publications

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RECOMMENDED READINGS FROM IMF PUBLICATIONS

Frontier and Developing Asia: The Next Generation of Emerging Market s

Edited by Alfred Schipke

With a combined population of more than 350 million people, frontier and

developing Asia, which includes countries such as Vietnam, Cambodia, and

Bangladesh, is located in the world’s fastest-growing region and has favorable

demographics. Despite their heterogeneit y, the countries share a number

of common macroeconomic, financial, and structural challenges. The book

addresses issues related to economic growth and structural transformation, as

well as the risk of a poverty trap and rising income inequality. The book also

analyses a number of financial sector and monetary policy framework issues.

$25, Paperback I SBN 978-1-47559-551-2

For more informatio n on these titles and other IM F publications, please visit w ww.imfbookstore.org /rbj

Can Abenomics Succeed?: Overcoming the Legacy of Japan’s Lost Decades

Edited by Dennis Botman, Stephan Danninger, and Jerald Schiff

Since the bursting of the bubble in the early 1990s, Japan has been unable to

sustain economic recoveries. At the heart of Japan’s economic challenge lie

several, closely related issues: ending deflation, raising growth, securing fiscal

sustainability, and maintaining financial stability. This book looks at Japan’s

revitalization plan dubbed the “three arrows of Abenomics.” The authors provide

an assessment of Abenomics and its significance for the rest of the world.

$25, Paperback I SBN 978-1-49832-468-7

Can Abenomics Succeed?

Overcoming the Legacy of

Japan’s Lost Decades

Dennis Botman

Stephan Danninger

Jerald Schiff

Can Abenomics Succeed?

Overcoming the Legacy of Japan’s Lost Decades

Abenomics combined with Governor Kuroda’s aggressive monetary policy has

fundamentally changed Japanese economic policy, with an aim of ending deflation,

promoting growth, and reducing fiscal deficits. This book puts the multiple challenges

Japan faces into a longer-term context, drawing on IMF research from the last couple

of years.

—Professor Takatoshi Ito

Columbia University, School of International and Public Affairs

Associate Director for Research, Center on Japanese Economy and Business, Columb ia Business School

Having tried a series of unconventional monetary easing policies since the late 1990s,

we have arrived at a way to achieve the price stability target of 2 percent: changing the

public’s inflation expectations through the combination of a strong commitment and

an unprecedented scale of asset purchases that underpin that commitment. This is the

core mechanism of the quantitative and qualitative monetary easing, or QQE. We hope

that the ongoing developments in Japan will provide a clue as to how to successfully

navigate the current low-inflation environment of the global economy.

—Haruhiko Kuroda

Governor of the Bank of Japan

Japan’s historic Abenomics experiment is seeking to boost the performance of—and

the perceptions about—one of the world’s largest economies, based on a coherent

“three arrows” set of policy reforms. This volume distills the IMF staff’s expert analysis

of Abenomics’ origins, content, implementation, and remaining challenges—including

the implications for the rest of the world—in a clear, comprehensive, and concise

form. The result is a unique and valuable resource for understanding one of the most

notable economic policy initiatives of recent decades.

—John Lipsky

Senior Fellow, School of Advanced International Studies (SAIS)

Former First Deputy Managing Director, IMF

Can Abenomics Succeed? Overcoming the Legacy of Japan’s Lost Decades is a

meaningful contribution to our understanding of Japan’s push to return to sustainable

growth. The authors provide a depth of analysis that goes well beyond the generalities

of “three arrows” and glasses half-full which are usually on offer regarding Abenomics.

The practical implications drawn for Japan’s fiscal options, labor market restructuring,

and monetary policy operations are particularly relevant, as is their measured

consideration of the spillovers of Abenomics on the global economy.

—Adam S. Posen

President, Peterson Institute for International Economics

INTERNATIONAL MONETARY FUND

Can Abenomics Succeed?

Overcoming the legacy of Japan’s Lost Decades Dennis Botman / Stephan Danninger / Jerald Schiff

IMF

Cambodia: Entering a New Phase of Growth

Edited by Olaf Unteroberdoerster

“The array of papers explores a range of issues, including Cambodia’s highly

dollarized economy and unrealistically low tax collection. The contributors

also address Cambodia’s open and liberalized banking system, considered to

be ‘overbanked.’ This book, though highly technical, allows a good peek into

Cambodia’s economy at a crossroads, and the IMF recognizes that reforms in

Cambodia must be comprehensive, multi-pronged, and sensitive to ongoing

changes in the region… Recommended. Graduate students, researchers, and

facul ty.”

CHOICE, December 2014

$25, Paperback I SBN 978-1-47556-078-7

INTERNATIONAL MONETARY FUND

EDITORS

Charles Enoch, Luc Everaert, Thierry Tressel, and Jianping Zhou

From Fragmentation to

Financial Integration in Europe

INTERNATIONAL MONETARY FUND

EDITOR

Olaf Unteroberdoerster

Cambodia

Entering a New Phase of Growth

Cambodia: Entering a New Phase of Growth

Cambodia: Entering a New Phase of Growth Olaf Unteroberdoerster

IMF

The International Monetary Fund (IMF) is an organization of 188 countries

working to foster global monetary cooperation, secure financial stability,

facilitate international trade, promote high employment and sustainable

economic growth, and reduce poverty around the world.