Medium Term Prospects for the Japanese Economy

The International perception of the Japanese economy has undergone a radical change over the last decade. Received wisdom has transformed Japan from the role model of the 1980s to the sluggard of the 1990s. In this article, Alistair Barr argues that Japan faces formidable challenges over the next twenty-five years, not least rapid ageing and population decline and the challenge of improving service sector productivity.