01952cas a2200265 a 4500 AALejournalIMF006190 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451874273 1018-5941 BD-DhAAL BD-DhAAL Tokuoka, Kiichi. 'Lost Decade' in Translation : What Japan's Crisis could Portend about Recovery from the Great Recession / Kiichi Tokuoka, Murtaza Syed, Kenneth Kang. Washington, D.C. : International Monetary Fund, 2009. 1 online resource (40 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students Is the recovery from the global financial crisis now secured? A strikingly similar crisis that stalled Japan's growth miracle two decades ago could provide some clues. This paper explores the parallels and draws potential implications for the current global outlook and policies. Japan's experiences suggest four broad lessons. First, green shoots do not guarantee a recovery, implying a need to be cautious about the outlook. Second, financial fragilities can leave an economy vulnerable to adverse shocks and should be resolved for a durable recovery. Third, well-calibrated macroeconomic stimulus can facilitate this adjustment, but carries increasing costs. And fourth, while judging the best time to exit from policy support is difficult, clear medium-term plans may help. Mode of access: Internet Kang, Kenneth. Syed, Murtaza. IMF Working Papers; Working Paper ; No. 2009/282 Full text available on IMF http://elibrary.imf.org/view/journals/001/2009/282/001.2009.issue-282-en.xml IMF e-Library