In terms of a countrys impact on the international

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Unformatted text preview: my, with Japan being third. In terms of a country’s impact on the international economy, however, it is the dollar figures that are, by far, the more relevant. © 2000 OXFORD UNIVERSITY PRESS AND THE OXFORD REVIEW OF ECONOMIC POLICY LIMITED 1 OXFORD REVIEW OF ECONOMIC POLICY, VOL. 16, NO. 2 of most primary products, and it holds the largest stock of foreign assets of any country. In addition, its business and labour-market practices have long been widely admired by outsiders, its technological advances have contributed to revolutionizing production methods in many areas, and its past successes have had significant effects on the manufacturing sectors of North America and Western Europe. This list could be extended. The country’s future prosperity (or lack thereof), in other words, will strongly impinge on the prosperity of the world economy. This issue of the Oxford Review of Economic Policy considers Japan’s economic performance. The various articles that follow cover the recent stagnation and look at possible future scenarios, but also examine a number of underlying cha...
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