MIT was still heavily involved in developing growth theory at the time I was a Ph.D. student there, from 1966 to 1969. We students were made aware of Kaldor’s stylized facts about the process of growth, presented in his 1957 article “A Model of Economic Growth.” They were: 1.
Current conditions  To set the stage, I will briefly explain the current condition of the Japanese economy and financial system, and then touch upon the global landscape. Japanese banks had relatively limited exposures to complex securitized products and thus the Japanese financial system  1  Financial Services Authority (2009), “The Turner Review”.