Japanese Structural Adjustment and the Balance of Payments
68 Pages Posted: 8 Jun 2004 Last revised: 25 Aug 2022
Date Written: June 1988
Abstract
Policy discussions in Japan have increasingly recognized the important role of land values and land-use patterns in Japanese macroeconomic adjustment. In Japan in recent years, land wealth constitutes more than half of financial wealth, a proportion that is much higher than in the United States and other industrialized economies. Consequently, shifts in land-use patterns can have important effects on Japanese savings and investment patterns, and thereby on the Japanese trade balance and current account. This papers studies the implications of land-use policies for the Japanese macroeconomy using both a theoretical model and a multi- sectoral dynamic simulation model.
Suggested Citation: Suggested Citation
Do you have a job opening that you would like to promote on SSRN?
Recommended Papers
-
By Andreas Humpe and Peter Macmillan
-
Keiretsu Membership, Firm Size, and Corporate Returns on Value and Cost
By Xueping Wu, Piet Sercu, ...
-
Relative Returns on Equities in Pacific Basin Countries
By Charles M. Engel and John H. Rogers
-
Macroeconomic Factors and Stock Market Movement: Evidence from Ghana
By Anokye M. Adam and George Tweneboah
-
The Japanese Tax Reform and the Effective Rate of Tax on Japanese Corporate Investments
-
Reassessing the Evidence of an Emerging Yen Block in North and Southeast Asia
By Colm Kearney and Cal B. Muckley
-
The Asian Financial Crisis and the Role of the IMF
By Elaine Hutson and Colm Kearney