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ON MODERN JAPANESE ECONOMIC POLICIES (Contemporary Economy series)
  by Kazuhide Uekusa
September 2001, 188 x 129 mm, 320 pp., yen2,700-
In February 1990, when Japan was at the zenith of the bubble economy that no one imagined was about to end, this author predicted the burst of that bubble and advised financial institutions to drastically change their fund management strategies. In 1991, the author distanced himself from many optimistic economists by forecasting and cautioning that the recession would continue for an extended period and become increasingly serious. The course taken by the Japanese economy during the "lost decade" proved the correctness of Uekusa's predictions.
The 21st century is here, but the Japanese economy remains in a severe plight. If anything, the economy seems to be worsening, with no recovery in sight. What factors are keeping the Japanese economy so depressed? How can Japan recover from such prolonged economic recession?
This extensively researched book discusses the steps Japan must take in order to bring about economic recovery by basing them on careful data analysis. The author employs data related to such key issues as financial policies, fiscal structure, pension programs, taxation, the decentralization of power, the labor market, the development of new industries, deregulation, and the institutional reform in policy-making, for his detailed analysis. The book makes a coherent study and proposes comprehensive actions rather than prescriptions for individual problems. It represents a full-fledged discussion of the Japanese economy and suggests possible options for Japan.
The author is an economist who works for a think tank affiliated with the largest securities house in Japan. He makes regular appearances on a nationally televised news program as a commentator. The exciting analysis by this spirited economist makes this book an ideal introduction to the contemporary Japanese economy.

Contents
Chapter 1: Long-Term Stagnation of the Japanese Economy — Course of Development
Chapter 2: True Causes of the Japanese Economic Recession
Chapter 3: Fiscal Policies and Points in Dispute
Chapter 4: Financial Policies and Points in Dispute
Chapter 5: Finalization of Exchange Rates
Chapter 6: Stock-Price Fluctuations
Chapter 7: Fiscal Structure and Its Reform
Chapter 8: Pension System and Its Reform
Chapter 9: Tax Reform and Points in Dispute
Chapter 10: Financial Administration and Points in Dispute
Chapter 11: Central and Local Governments
Chapter 12: Labor-Market Reforms
Chapter 13: Development of New Industries
Chapter 14: Effective Land Use
Chapter 15: Policy-Making Mechanism and Its Reform

About the Author
Born in 1960, Kazuhide Uekusa graduated from the University of Tokyo with a bachelor's degree in economics. He has taught at Kyoto University's Institute of Economic Research as an assistant professor and is now a senior economist at Nomura Research Institute. Uekusa has also worked as a freelance business writer specializing in economic policies and asset-related theories. Other books by Uekusa include The Political Economy of Interest Rates, Exchange Rates, and Stock Prices and Japan's Final Account Settlement.


Copyright 2001 Iwanami Shoten, Publishers. All rights reserved. gX