CURING JAPAN’S ECONOMIC MALAISE

For Japan to emerge from its severe and protracted economic doldrums nothing will help as much as abandoning its deep-seated commitment to an export-led economic strategy. Toward this end, Japan should remove the pervasively preferential treatment favoring its export firms and industries, and protec...

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Bibliographic Details
Published inStraddling Economics and Politics p. 165
Main Author Charles Wolf
Format Book Chapter
LanguageEnglish
Published RAND Corporation 11.09.2002
Edition1
Subjects
Ad valorem taxes
Behavioral sciences
Business
Business operations
Business structures
Cognitive psychology
Commerce
Development economics
Development studies
Economic conditions
Economic development
Economic fluctuations
Economic growth
Economic recessions
Economic recovery
Economic trends
Economics
Emotion
Emotional states
Exports
Governance
Government
Import competition
Imports
International economics
Macroeconomics
Malaise
Political science
Psychology
Sales taxes
Social sciences
Taxation
Taxes
Trade
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Summary:For Japan to emerge from its severe and protracted economic doldrums nothing will help as much as abandoning its deep-seated commitment to an export-led economic strategy. Toward this end, Japan should remove the pervasively preferential treatment favoring its export firms and industries, and protecting them, along with domestic industries, from potentially competitive imports. Japan’s export-led strategy should be replaced by an “import-accommodating” one, which would not only benefit Japan but would contribute significantly to the economic recovery of the entire Asian region, as well. This prescription is heretical. According to standard economic analysis, imports are deflationary while exports are expansionary.
ISBN:0833031813
9780833031815