Japanese Miracle

Japanese Miracle

A term for the remarkable economic growth Japan experienced after its devastation in World War II. The growth is credited to a combination of American investment immediately after the war and government regulation of the economy. The Japanese government restricted imports and promoted exports. Meanwhile, the Bank of Japan lent vast amounts to companies to stimulate private investment. This combined with a close relationship between corporate executives and bureaucrats allowed the government to pick winners successfully. The Miracle lasted until the Japanese financial crisis, which started in 1991.
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In short, CPEC is the backbone of Pakistan's economy and Pakistanis are determined that the Indus River miracle will take place like the Yellow River miracle, Han River miracle, and Japanese miracle.
The Japanese miracle, based on economic development focused on knowledge and investment in ICT, led to an unprecedented advance of high technologies development.
Capital as will and imagination; Schumpeter's guide to the postwar Japanese miracle.
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With the Japanese miracle soaring, powerful prime minister Kakuei Tanaka determined to rebalance political power.
The great Japanese miracle subsided into a decade of stagnation.
From 1985 to 1990, the Japanese miracle went into a euphoric phase, with twin bubbles in the real estate and stock market, coupled with massive exchange rate appreciation (endaka).
Then the so called Japanese Miracle disappeared, and Sound fish began losing value.
Probably the first massively distributed controversial study appeared under the name The False Promise of the Japanese Miracle (Sethi et al.
The rapid urbanisation of the post-war years--the so-called Japanese miracle left these rural regions as backwaters of stagnation and decline.
No one expects a repeat of the Japanese miracle, and we probably don't want it," says Doane.

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