Title: Rethinking financial and economic models for a post crisis era: lessons from the Japanese economic crisis

Authors: Marius Ioan Mihut

Addresses: Department of Economics, Faculty of Economics and Business Administration, Babeş-Bolyai University, 58-60 Theodor Mihali Street, Cluj-Napoca, Romania; Department of Economics, Faculty of Economics and Business Administration, West University of Timisoara, 4 Vasile Parvan Street, Timisoara, Romania

Abstract: In this period humankind traverses several types of crises: financial, economic, sovereign, systemic one, etc., topics such crises, especially as they could be avoided are in great demand. But how could we better avoid these potential crises as using expertise of previous crises? Especially, in such a context marked by crisis, we believe that the analysis of essential elements that represented sources of economic instability over time is an important one. Thus, the goal of this article is to highlight the elements that gave rise to the Japanese Great Depression, explaining them so that they can be avoided in future similar conditions. In this paper, we review and analyse aspects of Japanese crisis within the literature from the '80s through nowadays and we try to bring added value basis through analytical approach to interpenetrate three visions: the financial one, the wider economy vision, namely the sociological one.

Keywords: economic crisis; speculative bubbles; financial deregulation; monetary easing; economic framework; Japanese economic crisis; economic stagnation; Japan; financial models; economic models; financial crisis; literature review; sociological perspective.

DOI: 10.1504/IJEA.2015.074576

International Journal of Economics and Accounting, 2015 Vol.6 No.4, pp.352 - 364

Received: 05 May 2015
Accepted: 05 May 2015

Published online: 05 Feb 2016 *

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