Bubble economy

The Economy of Japan had experience a tremendous growth since the end of the Korean war. The growth of GNP in 1967 and 1968 was above 10 % (double digit growth period) which exceed countries such as Britain, France and Germany. The economy experienced a boost is due to many reasons, such as: enlargement of industrial facilities, massive adaptation of western technology and education, lower the military expense to 1% of GNP, relation with power nation, human resources and their …

…August 1993 wholesale prices were declining at an annualized rate of 4.2 percent.' Once again you can see that many Japanese are not very optimistic about the future economy. (17) Wood, 'The Bubble Economy', Sidgwick & Jackson, London 1992 pg. 205 (18) Wood, 'The Bubble Economy', Sidgwick & Jackson, London 1992 pg. 206 Therefore you can see that the land speculation had create many negative impacts to the Japan economy not only during the bubble period but also after the bubble burst.