The violent fluctuations of the Japanese yen through the 1980s and
1990s have played a critical role in Japan's economic decline.
Brendan Brown highlights the causes of the yen's bizzare behaviour,
and analyses the consequences for the Japanese and global
economies. Through this analysis he presents an original
hypothesis, linking the periodic sharp upswings of the Yen to poor
economic performance and offers a new view as to where the
responsibility for failure of the Japanese currency market to
function normally lies.
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