future and they have been concerned by Japan's long-term recession. This paper will address why Japan's economy has stagnated … Paul Krugman, that the Japanese economy is in a liquidity trap. We argue that Japan's economic stagnation stems from a … vertical IS curve rather than a liquidity trap. The impact of fiscal policy has declined drastically, and the Japanese economy …

"This comprehensive overview of the modern Chinese economy by a noted expert on China's economic development offers a … quality and breadth of coverage not found in any other English-language text. In The Chinese Economy, Barry Naughton provides … both an engaging, broadly focused introduction to China's economy since 1949 and original insights based on his own …