This research examines the so called Bubble Economy of Japan that developed in the decade of the 1980s and expired in the early 1990s (Wood, 1992, pp. 1 21). The findings of this examination are presented discussions related to background information on Japan, an introduction to the Bubble Economy, a review of the Japanese economy, speculation during the period of the Bubble Economy (banking, land, and securities), financial scandals related to the Bubble Economy (banking and securities), and an epilogue.
>BACKGROUND ON JAPAN>Japan is an Asian island nation whose 122 million inhabitants occupy four major islands and a number of smaller islands (Hunter, 1994, p. 804). As a political entity, the country dates back to about 500 B.C. ,>The Japanese population is remarkably homogeneous in an ethnic context (Hunter, 1994, p. 806). Ethnic Japanese account for 99.5 percent of the country's citizens, while most of the remaining one half of one percent are ethnic Koreans. Approximately 885 thousand foreigners reside in Japan, while approximately 498 thousand Japanese citizens reside outside of the country. Adjusting for these residence patterns still leaves the resident population of Japan 98.4 percent ethnically Japanese. Japan is also highly unified in a religious context (Hunter, 1994, p. 810). Although the country has no official state religion, approximately 108 million Japanese are adherents of Shintoism. Thus, approximately 88 percent of the Japanese population share the same religious orientation. Buddhism is not incompatible with Shintoism, and approximately 93 million Japanese practice Buddhism. Obviously, a significant overlap exists between the country's Shinto and Buddhist adherents. Rather than divide the country's population, however, the Shinto/Buddhist overlap further unifies the country. While a variety of folkways and accents are found in Japan, these differences are not causes of divisions within the populati...