Acting to Head Off Stagflation  

Oleh:

Keiichiro, Kobayashi

Jenis: Article from Bulletin/Magazine - ilmiah internasional
Dalam koleksi: Japan Echo vol. 35 no. 6 (Dec. 2008), page 15-17.
Topik: Stagflation; Lehman Brothers; American Investment; World Economy; Japanese Economy

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Perpustakaan Pusat (Semanggi) Nomor Panggil: JJ46.5 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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With the collapse of Lehman Brothers, a major American investment bank, turbulence in the world economy has entered a new phase. Although Japan will find it even harder to pilot its economy forward, a distinguishing feature of the worsening situation is that the problems are due almost entirely to exogenous factors. It is global financial instability and soaring prices for imported resources and food, which amount to a negative shock from the supply side, that are putting downward pressure on the Japanese economy at present. In the Japanese slump form the 1990s until about 2002, by contrast, domestic consumption and investment continued to sag on account of structural factors of various sorts. That was purely an endogenous downturn originating in Japan. We need to bear in mind that the present difficulties are entirely different in this respect.

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