Is Resolving Japan's NPL Problem the Answer?

Other Factors that Need to Be Addressed to Restore Growth in Japan

Conventional wisdom regarding Japanese economy holds that it needs structural reform. That is correct, but news and opinion seem to focus too much on banking industry (e.g. writing off bad loans) and government sector reform (like postal savings). When we assess the current situation of Japan, we should focus more on what kind of reforms are needed for the corporate sector to become more efficient, and how much they have achieved in that context.

Actually, there have been a number of changes to promote healthy competition in corporate sector, and we will see much more in a few years. Such reforms will certainly be quite powerful to revitalize the economy, and realizing such reforms steadily is more important than just calling for inflation targeting policy or some other magic wands.

Location

The New America Foundation
1630 Connecticut Ave., NW 7th Floor
Washington, DC, 20009
See map: Google Maps

Participants

  • Osamu Takemoto
    Chief Representative, The Bank of Japan Respresentative Office

Event Time and Location

Monday, September 9, 2002 - 12:00pm - 2:00pm

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