Japan: An article on 20 years of anemic growth

nesf

http://www.economist.com/opinion/displaystory.cfm?story_id=15176489

I thought those who like to draw parallels between Ireland and Japan may like to read this article. It's about the effects of the 20 year slump on the Japanese economy. I'd warn against drawing simplistic parallels between their economy and ours but it's interesting reading nonetheless.

Also, this opinion piece on what today's policy makers have learned from Japan's bust should be interesting: http://www.economist.com/opinion/displayStory.cfm?story_id=15174533&source=hptextfeature (pay attention to the fiscal credibility point, it's very important when comparing Ireland to Japan)

johnnyskeleton

I don't think that Ireland will go Japanese (if you'll excuse the crude expression), but I think we are in for a similar type of lost generation.

I also don't expect you to take the above at face value, so will post more later.

ei.sdraob

The difference between Japan and US models
is the willingness to declare bankruptcy/start with a clean slate, i.e quick sharp correction versus prolonged correction
Ireland is somewhere in between on this spectrum, i would personally prefer a quick sharp correction but with NAMA and mounting debts this **** will go on for decades

@nesf & all checkout this great blogpost here on this subject
http://mpettis.com/2009/12/the-pace-of-change/
its focused on China, US and Japan but when reading one can see where ireland fits into this picture


oh and happy new year everyone, head is still sore to be reading heavy economics stuff