Lost decade

The term "the lost decade" is used in several historical contexts:

* The post-war period in Britain from 1945-1955. [ [http://www.bbc.co.uk/bbcfour/lostdecade/timeline_html.shtml BBC - BBC Four - The Lost Decade Timeline ] ]

* The 1980s Latin American debt crisis: the region experienced a significant economic depression due to the two oil crises of 1973 and 1979. In addition, floating interest rates (e.g. the Libor rate) on loan agreements went up following these oil price shocks. The supply of U.S. dollars in the international financial markets, broadly available after World War II, was channeled into OPEC countries when the oil prices went up in the 1970s. The reduced supply of dollars in the international debt markets has pushed interest rates up on debt agreements. This chain of events has contributed to a major increase in the international debt in Latin American countries in the 1970s and 1980s. ["The U.S. and Latin America: A Lost Decade?" by Margaret Daly Hayes, in Foreign Affairs, "America and the World, 1988/89", Vol. 68, N.1).]

* The 1990s in Japan (失われた10年 "Ushinawareta jūnen"), following the collapse of the Japanese asset price bubble. [ [http://www.japan-101.com/history/history_lost_decade.htm The Lost Decade - Japan's History ] ] [ [http://www.imf.org/external/pubs/nft/2003/japan/index.htm Japan's Lost Decade - Policies for Economic Revival ] ] [http://www.stanford.edu/~johntayl/JapanCabinetOfficePresentation.pdf] [http://www.fordschool.umich.edu/rsie/workingpapers/Papers476-500/r484.pdf] [ [http://www.aei.org/publications/pubID.27568/pub_detail.asp AEI - Short Publications - Japan's Lost Decade ] ]

References