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浅析日本泡沫经济溯源与启示(Analysis of the origin and Enlightenment of Japans bubble economy)
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After the end of World War II, Japan fully exploited the advantage of backwardness and made use of the international background of the cold war, creating a miracle of high-speed economic growth for a long time, and rapidly becoming the worlds second largest economy after the United states. From the second half of 1980s to the beginning of the 90s, it was a turning point for Japans economic development. Asset prices, such as stocks and real estate, rose sharply and inflated sharply, and the Japanese bubble economy grew rapidly during this period and continued to expand. But the bubble suddenly burst, not only caused the rapid shrinking and the bad debts of financial institutions increased rapidly, and hit the Japanese economy, the economy stagnated, a large number of enterprises closed down, rising unemployment, a serious shortage of consumer and deflation and other vicious spiral all kinds of conflicts are intertwined. Japans economic weakness, the economic development from peak to trough, and into long-term depression or depressed, has been delayed.
More seriously, the collapse of the bubble economy of Japan government to stimulate economic recovery and long-term expansionary fiscal policies not only have little effect, but the cause of expanding the deficit, crocodile effect has become increasingly prominent, sovereign debt continues to expand, more difficult to change, now risk heavy Japanese sovereign
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