Japans economic dilemma the institutional origins of prosperity and stagnation bai gao on amazoncom free shipping on qualifying offers after decades of seemingly unsurpassable growth and prosperity japans economy declined in the 1990s. Bai gaos illuminating analysis of japans economic story demonstrates how the same economic institutions could produce both remarkable successes and a prolonged slump in japans economic dilemma gao describes tensions within the japanese economic system that created a bubble in the 1980s yet became unsustainable and led to a stagnant . Japans economic dilemma the institutional origins of prosperity and stagnationby bai gao cambridge university press cambridge 2001 xi 300 pages 5495 reviewed by michael j smitka washington and lee university this book is a wide ranging attempt to interpret the last 40years of japans history with an eye to the genesis of japan . Japans economic dilemma the institutional origins of prosperity and stagnation by bai gao and a great selection of similar used new and collectible books available now at abebookscom. Drawing heavily on japanese sources sociologist gao provides an admirable interpretation of japans economic boom and subsequent stagnation both resulted from postwar strategic decisions regarding the choice of national objectives above all economic growth and social stability and the distinctively japanese means to achieve each goal
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