Welcome to Scribd, the world's digital library. Read, publish, and share books and documents. See more
Download
Standard view
Full view
of .
Look up keyword
Like this
37Activity
0 of .
Results for:
No results containing your search query
P. 1
Japan Economy History

Japan Economy History

Ratings:

4.64

(11)
|Views: 8,549 |Likes:
Published by Ankur Sharda
Study Notes
Study Notes

More info:

Published by: Ankur Sharda on Aug 19, 2008
Copyright:Attribution Non-commercial

Availability:

Read on Scribd mobile: iPhone, iPad and Android.
download as PDF or read online from Scribd
See more
See less

08/01/2013

 
1
In 1990, Japan was on track to become the #1 economy
n
 Average Real Growth was exceptionally highin postwar period
n
1950-1970: 8.4% annual per-capita
n
1970-1990: 3.4% annual per-capita (4.1% unadjusted)
n
Large Trade Surpluses, especially with U.S.
n
Offset by high rates of investment in U.S. and Asia.
n
 Value of Yen rising
n
360 Yen per Dollar before 1971, 300 in 1973, 130 in 1990 –an average appreciation rate of 4% per year.
n
Per-capita GDP higher than U.S.
n
 Adjusting for Purchasing Power Parity, 81% of U.S. level(30% of U.S. level in 1870, 20% in 1929 and 1950)
Then the Bubble Burst
n
Prices of Stocks fell dramatically:
n
 After rising from 12,000 in 1985 to 39,000in 1989, stocks fell to 16,000 by 1992.
n
Real Estate and other Assets similarlyaffected.
n
Bubbles happen, and bubbles burst, butin Japan the decline never ended.
n
Currently, the Nikkei is around 12,000.
 
2
Nikkei 225 Index02,0004,0006,0008,00010,00012,00014,000
1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005
Monthly Data
    U .    S .    I   n    d    i   c   e   s
05,00010,00015,00020,00025,00030,00035,00040,00045,000
    N    i    k    k   e    i    2    2    5     I   n    d   e   x
Dow Jones Industrial AverageNasdaq IndexNikkei 225
 After 1991, Japan alsostopped growing
n
Between 1990 and 2004, average realper-capita growth averaged around1.0%.
n
Four identifiable recessions.
n
 After a year or so of hope, another onemay be beginning.
 
3
Real Japanese GDP
020,00040,00060,00080,000100,000120,000140,000160,0001969 1972 1975 1978 1981 1984 1987 1990 1993 1996 1999 2002
Quarterly Data
   R   e   a   l   Q   u   a   r   t   e   r   l   y   G   D   P   (   1   0   0   m   i   l   l   i   o   n   Y   e   n   )
-4.0%-2.0%0.0%2.0%4.0%6.0%8.0%10.0%12.0%
   A   n   n   u   a   l   G   r   o   w   t   h   R   a   t   e
What happened to Japan?
Why the world’s second largesteconomy slowed down
Professor Elliott ParkerDepartment of EconomicsUniversity of Nevada, Reno April 14, 2005

Activity (37)

You've already reviewed this. Edit your review.
1 hundred reads
1 thousand reads
Michael Tsoi liked this
Maheshwar Giri added this note
Very nice presentation slides. Can you please suggest some reading materials and some references of the data presented.
Veada Cvrk liked this
Sheri Myers liked this
NJProject liked this
Cristian Mejía liked this
anuyajoy liked this
Fajrin Hanggoro liked this

You're Reading a Free Preview

Download
scribd
/*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code)//-->