This book investigates the reasons for persistent public deficits and delayed fiscal reform in Japan, placing a special … emphasis on political economy aspects. Japan is confronted with the need to pursue fiscal discipline for fiscal consolidation …

caught in a liquidity trap. This book argues that Japan’s economic stagnation stems from a vertical “investment-saving” (IS …This book discusses Japan’s long-term economic recession and provides remedies for that recession that are useful for … other Asian economies. The book addresses why Japan’s economy has stagnated since the bursting of its economic bubble in the …