Includes bibliographical references (pages 230-245) and index.

"In the last fifteen years, Japan's economy has gone from being a model of success to being an object lesson in failure. Here, William W. Grimes offers a detailed, insider's view of the key macroeconomic policies and events in contemporary Japan." "Based on scores of interviews with Japanese policy makers, this is the first political explanation of why these catastrophic policies were carried out by the Ministry of Finance, the Bank of Japan, and the Diet. Various economic shocks were met, Grimes says, with a consistent and often inappropriate pattern of responses. This pattern has been fundamentally altered because of changes within the three policy-making institutions since 1998"--Jacket.

SACFinal081324