Problem
From the early 1950s through 1973, the Japanese economy grew at an average annual rate of almost 10%. It then slowed down to 5% per year from 1973 through 1991, and 1% per year from 1992 through 1998.
(A) What were the major factors causing growth to slow down after 1973?
(B) To what extent were the same factors present in the post-1991 slowdown? What other factors caused the most recent slowdown?
(C) After Japan emerges from its recession, what you would expect its long-term growth rate to be in the future?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.