A Study On Japanese Low Economic Growth And The Transition Of Management System

After a high economic growth for more than thirty years, China will enter a stable growth period. For China to transform the economic development pattern, economic growth of China is companied with enormous pressure to environment, resources and so on. Big changes in the social and economic structure and international situation force China to face big challenges to support further growth and development. It has strong theoretical and practical significance to study the endogenous and exogenous causes, economic countermeasures and transition of economic management, for each development stage of Japan, especially the latest stage of low growth since early1990s. The long-term tendency of the global financial crisis also makes Japanese experieces more meaningful.Based on historical, systemic and policy analyses, economic growth theory, economic development theory, public economic theory and system control theory, the study focuses on two aspects, one is policy analysis on formation, collapse and countermeasures of the bubble economy, and the other is institutional reasons of the low growth in the past two decades and Japanese economic management system reform, calculating related economic and social indexes, inducing and arranging institutional change and evolution and comparing to China.The thesis classifies development stages of the post-war Japan and study motilities, policies and of stages including highly-growth stage, stably growth stage and the low growth stage, especially the economic fluctuation and systemic causes of the low growth stage including and the start point of transition of economic management system of the low growth period after the beginning of the1990s.Complexity of economic management policy is studied and it is concluded that the low growth of Japan is not only the result of changes of domestic and international economic structures and environment, but also assets-debt deflation after the collapse of the bubble economy. During the countermeasures application, it is necessary to pay attention to policy model, timing, and smooth commutations of policy information, contradiction of long-term and short-term policies.China should draw lessons from Japan’s failure during the process of fighting against short-term imbalance. Moreover, it is very necessary to the changes of economic structure in order to avoid possible problems in population structure and management system. System construction should keep up with the times to realize sustainable development. Furthermore, it should be noted that the uneven development among various industries and different regions in China, should be targeted to learn from the lessons of Japan.