Takeo Hoshi Comments On Japan's 20 Years of Economic Stagnation
Japan's 20 years of economic stagnation
10/12/2011
Annabelle Quince,
Australian Broadcasting Corporation
Professor Takeo Hoshi appeared on a radio show covering Japan's 20 years of economic stagnation, hosted by Annabelle Quince on the Australian Broadcast Corporation.
Annabelle Quince: The natural disasters that occurred in Japan earlier this year certainly didn't helped its economy, but they also weren't the cause of Japan's ongoing economic woes.
Hello, I'm Annabelle Quince and this is Rear Vision on ABC Radio National, streaming on the web and downloadable on your MP3 player. Today we're going to find out why Japan's economy, one of the most successful of the twentieth century, has became a stagnant swamp.
At the end of the 1980s, Japan's economy was booming and asset prices going through the roof. By 1995, small banks were failing, and by the end of the '90s, Japan was sliding into recession. Sound familiar? In many respects the current crisis engulfing Europe and the United States echoes what's happened in Japan.
So why has Japan spent 20 years in a state of economic stagnation? And are there any lessons we can learn from Japan's experience?
Click here to download the interview.
Click here to read the full transcript.
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Takeo Hoshi can provide commentary on Japan's financial system, bank regulation, macroeconomic conditions and macroeconomic policy.
