Publication

This publication discusses the phenomenal economic growth of Japan in the 1990s and the devastating economic downturn that was caused by the institutional setup that was required for success. It further analyzes market forces driving Japan to carry out major reforms that are hoped to lift the country out of economic stagnation. The author states that Japan's traditionally protected, inner-dependent sector must be opened to competition in order to improve efficiency, and obstacles to direct foreign investment must be eliminated.