1990s Japanese Financial crisis
Shaun Balderson - Context.
Samiah Anderson - Diagnosis of the problem/cause.
Sarah Vowden - Solution/Policy
Richard Adomako - Solution/Policy
Trudy Akobeng - Solution/Policy
Katherine Whitaker- Recommendations/what can the rest of
world learn from the crash/policies.
The team has organised
two meetings as well as set up a facebook group and shared google docs folder
to share ideas, notes and readings.
Shaun Balderson: - I have attended all meetings for the
group project. My role is to research and provide the context section. It will
cover the period running up to the crash, a brief paragraph of why the crash happened
(something that will be covered in much greater detail by Samiah), before then
discussing the crashes size and scale, where Japan's economy is post crash
compared to pre-crash and the role of the Japanese financial crisis in the
wider Asian/global financial crisis.
-
I
have undertaken various readings surrounding the topic and am hoping to provide
a written draft of my section in the coming week.
-
Additionally,
I have purchased two books in order to aid our team. i) Japan's Financial Crisis and Its Parallels to U.S.
Experience (Special Report) and ii) Japan's Financial Crisis: Institutional
Rigidity and Reluctant Change (Princeton Paperbacks).
Richard Adomako
Unfortunately, I was unable to attend the group meeting
although I was able to gain information about
what was discussed. The group was broken up into specific focus sections with
which I have been tasked with solution/policy recommendations for the Japan
Crisis of 1990’s. From there my research topic will be looking at the
successful policies employed by the
Australian government during the same time period and over the same type of
financial crisis. Specifically, that is looking at how the ‘liquidity trap’
occurred in the Japanese/Australian economies and what
policies allowed the Australians to thrive whilst
Japanese continued to strive.
Samiah Anderson:
My role in this report project is to build upon the
context/background of the report to create a diagnosis of the significant
causes of Japan’s 1990s Financial Crisis. I have begun initial research and
reading around the role of interest rates for Japan’s Financial Crisis.
I have set up a Facebook group after the group’s initial
meeting to keep communications in the group as effective as possible.
In addition: I am proud to report that I have purchased 1) Keynote
for Mac software onto my laptop and 2) Inforgraphics for Keynote, which I plan
to use once Shaun, has completed the background/context section. Essentially, I
hope work with everyone to create infographics to present and visualize empirical data
presented in each main section of the report. I have no doubt that the
presentation of our report is going to look rather spiffy.
Katherine Whitaker:
Over the
last two weeks I have been doing broad research of the period of Japanese
financial crisis known as the ‘Lost Decade’. We are all doing research as a
group but also each of us have taken on different tasks in order to fully understand
the crisis, as a solid knowledge of the context, causes of and responses to the
Japanese financial crisis is necessary in order to come up with recommendations
as to how to avoid repeating the mistakes that were made. After Shaun has
provided the context, and Samiah has diagnosed the problems, Richard, Sarah and
Trudy will look at three solutions that were taken and their results. Once we
have this knowledge, I will then be able concentrate my research to come up
with policy recommendations for the future of banking, and to suggest what the
rest of the world can learn from the events surrounding the ‘Lost Decade’.
Sarah Vowden:
Over the first few weeks of the project, I have been
generally reading about the Japanese crisis in order to gain an understanding
of the context in which the crisis has happened and the Government responses
that were taken as an attempt at reinvigorating the Japanese Economy. This has
been through the use of various sources such as articles and documentaries.
Once Shaun and Samiah have structured the context and Diagnosis of the problem,
then we can have discussions around the policy recommendations that we would
like to make, to which will involve expanding my reading to look in detail at a
particular solution. In the next few weeks I will focus my research towards
these aims and also look through other policy reports to understand the most
appropriate ways to write policy recommendations.
Trudy Akobeng:
In our first
meeting the group decided to present a policy report on the 1990's Japanese
financial crisis. We agreed to familiarise ourselves with the crisis and think
about what section of the policy report we would most like to focus on. In our
second meeting we allocated a person per section: myself, along with Richard
and Sarah are going to research what policies were implemented at the time.
Before the next meeting I plan to have a specific policy that I want to focus
on in our policy report.
