pProfessor Kazuo Sato has prepared a detailed critique of my paper, "From Growth Superstar to Economic Underachiever." His main points are:/pp1. Japan, far from being an underperformer in 1973-90, was still superior since its per capita GDP growth was higher than the growh of other leading...

Japan is a case of "success that soured."sup1/sup While Japan was a miracle economy during the high-growth era, the miracle ran out of juice more than twenty years ago. A twenty-three-country regression using a "conditional convergence" model shows that, in 1960-70, Japan achieved 8.4 percent...

A number of remarkable changes have occurred since the 1998 publication of >i>Japan: The System That Soured: The Rise and Fall of the Japanese Economic Miracle.>/i> Those changes are tracked in the updates presented in this special double issue of >i>The Japanese Economy>/i> (vol. 29, nos. 5â6).