Advances in Economics, Management and Political Sciences
- The Open Access Proceedings Series for Conferences
Proceedings of the 2023 International Conference on Management Research and Economic Development
Series Vol. 22 , 13 September 2023
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1990 Japan Economic Crisis
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Abstract
What can each country learn from this? How can economic crises be effectively avoided? When an economic crisis occurs, what can be done to avoid adopting the wrong policies? This paper is based on the economic crisis that occurred in Japan in the 1990s because of the rapid appreciation of the Japanese yen following the signing of the Plaza Agreement. The paper is divided into four sections to analyze the Japanese economic crisis of 1990. It describes the following questions: what led to the crisis in Japan; what impact the crisis had on Japan; what methods the Japanese government used during the crisis and what lessons the crisis brought; what each country can learn from it; and whether they can do better than the Japanese government did when it faced the economic crisis in 1990. Through the study, this paper finds that the Japanese government in 1990 did not immediately deal with and make adjustment plans when faced with the crisis. Secondly, it maintained an optimistic attitude. This is what led to the creation of the economic crisis. And this economic crisis pressed the pause button on Japan, which was growing at a fast pace, and stagnated the Japanese economy for 10 years. The effects of Japan's high ageing population and high divorce rate in that period continue to this day and seriously affect a country's economic development.
Keywords
Japanese economic crisis, Japan, Bank of Japan, 1990
References
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Data Availability
The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.
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- Volume Title
- Proceedings of the 2023 International Conference on Management Research and Economic Development
- ISBN (Print)
- 978-1-915371-87-4
- ISBN (Online)
- 978-1-915371-88-1
- Published Date
- 13 September 2023
- Series
- Advances in Economics, Management and Political Sciences
- ISSN (Print)
- 2754-1169
- ISSN (Online)
- 2754-1177
- DOI
- 10.54254/2754-1169/22/20230292
- Copyright
- 13 September 2023
- Open Access
- This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited