Japan's Economic Recovery Stalled

Patrick, Hugh T.

While Japan's economy performed reasonably well in 2007 and through the first quarter of 2008, as of mid-2008 it had, dismayingly, slowed so much and so rapidly that it very likely is now in a recession. The extended recovery and expansion since 2002 has come to an end, and recovery may well not resume until late 2009. Given Japan's increased interdependence with the global economy, as well as domestic factors, uncertainty is greater than usual. At issue are the severity of the downturn and its length before satisfactory growth resumes. Inadequate domestic demand is the major constraint on growth.

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Academic Units
Center on Japanese Economy and Business
Center on Japanese Economy and Business, Graduate School of Business, Columbia University
Center on Japanese Economy and Business Working Papers, 266
Published Here
February 14, 2011