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The Japanese economy and industry face structural reform in the run up to the 21st century
Author(s) -
Saito Takeshi
Publication year - 1999
Publication title -
strategic change
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.527
H-Index - 16
eISSN - 1099-1697
pISSN - 1086-1718
DOI - 10.1002/(sici)1099-1697(199901/02)8:1<3::aid-jsc425>3.0.co;2-#
Subject(s) - face (sociological concept) , business , economics , market economy , economy , economic system , sociology , social science
This article deals firstly with the principal factors that have caused Japan's current severe economic slump and how to pull out of it. Secondly, it deals with the prospects for the Japanese economy at the turn of the 21 st century after it has recovered from the slump. In order for the Japanese economy to emerge from the current prolonged recession, continued fiscal pump‐priming and stabilization of the country's financial system are essential. At the same time, steps must be taken to transform Japan's economic and industrial structures to meet the demand of global markets. If these measures are successful, Japan can sustain steady albeit moderate growth and continue to be an affluent country into the future. Copyright © 1999 John Wiley & Sons, Ltd.