Jwa Sung-hee: Reorganization of Korea's macroeconomic management. - S. 1-64. Yoo Jungho: The nature of the national economy in the borderless world and the role of the government. - S. 65-96. Mihn Kyoung-hwie: Industrial structural changes and enhancing competitiveness. - S. 97-136. Encarnation,...

Contents: Preface -- 1. Introduction and overview / Dongchul Cho, Takatoshi Ito and Andrew Mason -- Part I Aging, industry maturation and Japanization -- 2. Japanization: is it spreading to the rest of the world? / Takatoshi Ito -- 3. GDP growth from the perspective of demographic change: will...

Japan's dramatic transformation from economic success to economic stagnation offers important policy lessons to advanced countries everywhere that are struggling with stagnation. The term 'Japanization' is often used by economists to describe long-term stagnation and deflation. Symptoms include...

This paper studies the effects of financial liberalization and banking crises on growth. It shows that financial liberalization spurs on average economic growth. Banking crises are harmful for growth, but to a lesser extent in countries with open financial systems and good institutions. The...