Problem: After a spectacular 1980s boom, Japan's real estate and stock markets crashed, throwing the economy into a prolonged malaise.
Outcome: Early denial of the problem by the Japanese government taught policymakers elsewhere the value of responding quickly and decisively.
NEXT: Asian contagion of late 90s
Outcome: Early denial of the problem by the Japanese government taught policymakers elsewhere the value of responding quickly and decisively.
NEXT: Asian contagion of late 90s
Last updated October 14 2008: 10:02 AM ET