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Economic Perspectives, 26, 4th, No. 4, October 2002
Sorting out Japan’s financial crisis
This article reports on the size of the Japanese financial crisis (currently estimated to cost taxpayers 24 percent of GDP) and sketches the likely ingredients of a successful solution. The crux is that Japan’s banks, insurance companies, and government financial agencies all suffer different problems and require different solutions. But all three sectors are connected, and a failure to tackle concurrently the problems of all three promises to doom any reform plan.


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