As Japan's decade-long economic stagnation continues, there has been much analysis of the immediate macroeconomic problems that confront the Japanese economy. This book looks past the short-run challenges to the future of Japan and highlights the intermediate and longer-term issues that country faces.

In this, the first book-length academic treatment of this important issue, a team of notable contributors present nine papers, offering a comprehensive assessment of those economic difficulties and addressing a range of specific issues, from financial restructuring and the impact of the aging Japanese population to corporate behavior, public lending, employment practices, and innovative capacity. In each paper, contributors clearly identify and outline problems and concerns, carefully pose provocative questions, and in many instances present concrete suggestions for improvement.

The resulting volume is a timely and important examination of critical issues for Japan's stalling economy, packed with both telling data and expert analysis and offering valuable perspectives on Japan's current obstacles.

Magnus Blomström is a professor at the European Institute of Japanese Studies and the Stockholm School of Economics.

Jennifer Corbett is a reader at the University of Oxford and professor at Australian National University.

Fumio Hayashi is a professor in the faculty of economics at the University of Tokyo.

Anil Kashyap is the Edward Eagle Brown Professor of Economics and Finance in the Graduate School of Business at the University of Chicago.