"In the late 1980s,Japan experienced an asset price bubble...When the bust came it crippled the banking sector, the economy, the share market and even disfigured the almost perfect labour market.All very unpleasant, but far more disturbing has been the legacy of the boom and subsequent bust. Since 1990, Japanese economic growth has averaged about 0.7 per cent per annum...inflation over the past two decades...has oscillated around zero and interest rates have hovered just above zero for most of that time."
Source: Low growth and interest rates might stick
Andrew Gawith
Tuesday Jun 26, 2012
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