Average growth declined from the mid-three percent in the 1980s to the mid-one percent in the 1990s. The recoveries in the 1990s were not strong enough to lead to self-sustained growth. The recessions were deep and long enough to weaken the economic fundamentals.
BIS Review 41/2004  1  Now the Japanese economy is finally reaching the end of the long and painful path of the post-bubble adjustments. Our economy has achieved significant progress in overcoming structural impediments.