The Yen Appreciation and International Economy

by Dilip K. Das

Overview

Concurring with the decision of the G-5 countries to appreciate the yen during the Plaza accord was of momentous significance for Japan because this was the sharpest appreciation among the leading currencies in the recent past. Doubling the value of the currency in such a short time-span could have led to a stifling of the economy. Instead of being smothered, however, the Japanese economy—after the brief endaka recession—entered into the longest upswing of the business cycle of the postwar period. The primary focus of this book is the force of the post-appreciation Japanese economic expansion as it was felt by developing and industrialized countries. By 1989 the Japanese economy had emerged as the largest creditor nation, the largest giver of aid, and the largest economy making foreign investments. Becoming banker of the world, its banks and securities firms began to dominate international financial markets, and with 111 Japanese corporations in the Fortune 500 list for 1990, it also became an enormous corporate presence in the international economy.

Product Details

ISBN-13:	9780814718520
Publisher:	New York University Press
Publication date:	12/01/1992
Pages:	224
Product dimensions:	6.00(w) x 9.00(h) x (d)

About the Author

Dilip K. Das has been a consultant to the World Bank and the World Commission on Development and Environment in Geneva. He is Professor and area chairman of the Indian Institute of Management in Lucknow, National Centre for Development Studies, Australian National University.

Editorial Reviews

The decision by the Group of Five (G-5) countries to drive up the value of the Japanese yen led to the longest economic upswing since WWII. This text traces the impact of the quick appreciation of the yen upon Japan and the increasingly interdependent economies of the world. Annotation c. Book News, Inc., Portland, OR (booknews.com)

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