Review of Masazumi Wakatabe, Japan’s Great Stagnation and Abenomics. Lessons for the World

apan’ s Great Stagnation and Abenomics. Lessons for the World represents a very impor- tant contribution to the current debate in the field of political economy and an in- formative reading for economists, practitioners as well as for specialists of the Asia Pacific region. The relevance of this book resides in several factors. Firstly it presents a detailed and informed, yet accessible, exploration of the policy responses to the Japanese Great Stagnation. Secondly it helps locating the Abenomics, prime minister Abe’s economic blueprint, both within the Japanese political and economic debate and in the global marketplace of ideas. Thirdly, it presents a coherent argument in favour of the Abenomics and its economic rationale. This is particularly significant because it entails also arguing against the current international academic and political con- sensus. Finally, it contributes to the field of ideational approaches to political econo- my. This is another important way in which the book aims at differentiating itself from the mainstream in its field