Japan out of the Lost Decade: Divine Wind or Firms' Effort?

Working Paper No. 12/171

A surge of exports in the 2000s helped Japan exit the severe decade-long stagnation known as the lost decade. Using panel data of Japanese exporting firms, we examine the sources of the export surge during this period. One view argues that the so-called "divine wind" or exogenous external demand boosted Japanese exports. The other view... READ MORE...

Publication date: July 2012
ISBN 9781475505191

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Publication date: July 2012