Experience Stern | News & Events

Excerpt from Marketplace -- "The Japanese central bank is so desperate to spur growth that they’ve gone over to negative interest rates, and Japan has suggested it would like to devalue its currency to promote growth — which doesn’t sit well with the U.S. The aspect of Abenomics that calls for structural reforms and economic liberalization has been very slow to materialize, which NYU Stern Business School professor Gian Luca Clementi said is key to growing the country’s economy. 'There are lots of small banks that give loans on very dubious criteria, and lots of companies that are definitely not the most productive, but they are entrenched politically. [They] receive continuous financing for projects of dubious productivity,' he said. 'On the other hand, smaller entrepreneurs, younger entrepreneurs have a harder time getting financing.'"

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