Structural Impediments to Growth in Japan.

• Position: Bureau Books - Book Review

Structural Impediments to Growth in Japan, edited by Magnus Blomstrom, Jennifer Corbett, Fumio Hayashi, and Anil K Kashyap, is available this fall from the University of Chicago Press for $70.00.

As the much-lauded "miracle" of Japan's stunning economic growth has given way to economic stagnation, analysts have focused their attention on the underlying systems that present obstacles to continued success. In a first book-length academic treatment of this important issue, a team of notable editors and contributors gathers to present nine papers offering a comprehensive assessment of those economic difficulties. The topics covered range from financial problems to corporate issues to issues in government policy. The result is an invaluable collection of information on the key challenges facing continued economic growth.

All of the volume's editors are members of the NBER's Japan Project. Blomstrom is a...