Japan's Economy: Phoenix or Quagmire?

Research Paper (undergraduate) from the year 2008 in the subject Business economics - Economic Policy, grade: 1,3, University of Applied Sciences Hof, language: English, abstract: Over the past centuries, Japan's economy has witnessed not only one but several severe economic crises. The latest however -and probably the most ferocious one- was the one that occurred in the 1990s and lasted around ten successive years. This essay will shed some light on the background, the progression as well as the implications of Japan's lost decade. Thus, the essay will first provide a brief overview of the Japan's post-WW II economy before it dwells on the most severe crisis in the 1990s, followed by the watershed in 2003. Last but not least, the essay will draw on today's Japanese economic situation. It will thereby become apparent that Japanese economic history has led to the more than justified question as to whether Japan is a 'Phoenix or Quagmire' in respect of its economy. Thus, the conclusion will round off this essay by attempting to answer this question and hence, the title of this paper.