JAPAN’S GREAT STAGNATION: FORGING AHEAD, FALLING BEHIND

Book ID/图书代码： 04289512B56296

English Summary/英文概要： This timely book presents a critical examination of the developmental premises of Japan’s high-growth success and its subsequent drift into recession, stagnation and piecemeal reform. The country, which within a few decades of wartime defeat mounted a serious challenge to American hegemony, appeared incapable of fully adjusting to shifting economic circumstance once the impulses of catch-up growth and the good fortune of an accommodating international environment faded. The banking crises, spiralling government debt, and stagnant growth experienced by major industrialized nations in recent years have evoked renewed interest in Japan’s economic denouement since the 1990s. To many, Japan’s drift into recession and financial crisis during the early 1990s, and later into stagnation and prolonged deflation, demonstrated precisely what not to do when fashioning remedial policy. This book details the legacies of Japan’s high-growth success and how they affected Japan’s capacity to cope with shifting national and international circumstance from the 1980s. It reviews the contentious debates over the causes and consequences of the ’bubble economy’ and the ’lost decade’, and assesses the extent to which reforms since 1997 have been compromised by lingering attachments to Japan’s distinctive post-war political economy. Providing an analytical overview of both the high growth and recessionary periods and of subsequent reform agendas, this timely book will appeal to students, academics and researchers of economic history, development and politics, particularly those with an interest in Japan and Asian studies more generally.

Chinese Summary/中文概要： 这本顺应局势的作品非常详尽地阐述了日本起先经济高速发展，而在之后逐渐划入经济萧条，停滞和缓慢复苏的整个过程。这个国家在二战后的几十年作为战败国，处处受到美国霸权主义的打压，无法适应快速增长的经济环境，也无法融入到国际环境中。自20世纪90年代开始，日本经历了金融危机，不断上升的政府债务以及作为主要的工业国家，工业的经济效益增长也出现了停滞状况，这些消极的情况使得日本最终的经济发展结果引起了各方新一轮的关注。对大多数人来说，日本自20世纪90年代开始陷入经济衰退和金融危机，随后经济又出现停滞和持续通缩，这些都向他们阐述了在对金融危机作出补救措施时，什么是万万不能做的。这本书详细地描述了日本在经历经济高速增长后遗留下来的问题，以及这些问题对于日本在自80年代起应对快速变化的国内和国际环境问题时起到了怎么样的影响。本书也回顾了日本因“泡沫经济”和“战后十年”引发的颇具争议的债务问题，并评估了自1997年起，在何种程度上，日本的改革政策也不得不因它独特的战后政治经济而搁置下来。这本书全面介绍了日本的经济高速增长时期，经济衰退时期以及随后的改革议程，将会引起那些在经济历史，发展和政治，尤其是那些对日本和亚洲经济研究特别感兴趣的学生，学者和研究人员的密切关注。(XAT)

Awards/获奖情况：’Recent events have rendered Japan’s lost decades all the more relevant to the rest of us. Rick Garside, in this wide-ranging and accessible account, explores the political economy of Japan’s great stagnation with an eye toward describing how other advanced economies can avoid going down the same path.’ - Barry Eichengreen, University of California, Berkeley, US ’Professor Garside’s timely book transcends the national preoccupation suggested by its title. From one viewpoint this is a case study (admittedly on a grand scale) of the experience of one country in one historical period. But in analyzing the dynamic relationship between Japan’s post-war economic miracle and its chronic stagnation from the 1990’s he offers a penetrating insight into the links between profound and embedded institutional and ideological influences, global upheaval, and almost disastrous national economic performance. Hence, Japan’s Great Stagnation - the unfolding story of that country’s declining experience from masterful economic power to seeming economic paralysis - provides us with an all-too familiar scenario with which to approach the contemporaneous ills of the world’s developed economies. The interaction between banking crises, unwieldy institutions (especially, but not only, financial institutions), policy frailties, and stagnating demand - all conspired to create crisis and then handicap or prevent recovery. And the familiarity of the story is aggravated by the global financial crisis which now threatens to engulf us. History never fully repeats itself, but Professor Garside’s illuminating examination of Japan’s recent experiences must surely provide important points of relevance for the world’s current malaise. He is to be congratulated on the depth and scope of what he has achieved - and for its relevance to what we are experiencing.’ - Barry Supple, University of Cambridge, UK

About the Author/作者介绍： “近来的事件使得日本战后几十年的经济动向让人们意识到这一切其实与每一个人有关。Rick Garside的这部作品涉及的方面广，受众群大，深度探索了日本经济大停滞下的政治经济问题，并且也对其他经济强国提出告诫，如何才能不要重蹈覆辙。”——Barry Eichengreen教授，美国加州大学伯克利分校。

“Garside这本非常顺应时事的书引起了全民的关注。从某一点来看，他介绍了一个国家在一个特定历史时期的经历。但是他又分析了日本战后经济高速发展以及自90年代起长期停滞之间的动态联系，并精辟独到地解读了日本各类嵌入式机构机构和意识形态，全球动荡，以及可称得上是灾难性的全国经济危机之间的关系。因此，《日本经济大停滞》——一个国家从经济近乎神话般的发展到陷入全面瘫痪的故事，从中我们可以看出同时期内世界发达经济体所存在的共同弊病。银行危机，办事不利的机构（特别是金融机构），政策的弱点和停滞不前的需求之间的相互作用，都是最终导致危机并且使之很难复苏的原因。全球金融危机影响着我们每一个人，也使得我们能从日本的经济问题中看出自身的问题。历史从来都不会完全重演，但是Garside教授精辟全面的分析已经向我们展示了世界经济目前萎靡不振与日本经济问题的相似之处。这本作品的广度和深度，以及展现出的与我们的相关性都是引人深思的。”——Barry Supple，英国剑桥大学

Format:HARDCOVER

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