This book provides a systematic explanation of a remarkable policy innovation in an emerging economy in the modern world. In doing so, it highlights the nature of the Japanese economy during the interwar period. It offers a canonical case study for an international macroeconomic policy of a...

Introduction: Takahashi Korekiyo, the Man Who Brought Japan Out of the Great Depression -- Japan’s Plunge into and Emergence from the Great Depression -- Policy Innovation in the Great Depression -- Sustainability of Public Debt under Stress -- Origins of the Economic Ideas of Takahashi...