The Transformation of the World Economy pp 51-75 | Cite as
Adjusting to Shocks in France, Germany and Japan
Chapter
Abstract
Each in its own way, France, Germany and Japan have had to make substantial adjustments in economic policy and political orientation in the years since 1980. France shifted away from Mitterrand’s socialist electoral programme of 1981 towards the policies of Thatcher and Reagan. Germany had to adjust to the economic shock of unification and absorption of the former East Germany. Japan became a major capital exporter but in the late 1980s went on a speculative spree at home that gave way in the 1990s to its most severe recession since before the Second World War.
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Interest Rate Real Estate Monetary Policy Prime Minister World Economy
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Notes
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Copyright information
© Robert Solomon 1999