Format:
19 Seiten
ISBN:
978-3-86205-488-6
Content:
Just a Matter of Time: The Collapse of Abenomics When elected in 2012 as prime minister of Japan, Shinzō Abe promised to overcome the persisting deflationary mindset of the public, and to bring the Japanese economy back on track through an array of coordinated economic policies known as »Abenomics«. This paper summarizes the development of the Japanese economy in the last three years and then analyzes the achievements of Abenomics in each area: monetary and fiscal policy as well as structural reforms. In sum, the analysis shows that, until now, Abenomics did not fulfill its expectations. Economic growth is still sluggish, and deflationary tendencies have not disappeared, despite an unprecedented expansion of the monetary base. Fiscal policy is torn between stimulating the economy and achieving fiscal targets to bring down government debt – none of which seems to work. Structural reforms would be able to provide the growth needed to reduce public debt, while covering the ever-increasing expenses of an aging society, but such reforms require a determined political leader who is able to act against established interest groups. Abe, however, is caught up in his agenda to change the Japanese constitution – an agenda which does not leave much leeway for economic reforms.
In:
Japan 2015, 2015, (2015), Seite 203-221, 978-3-86205-488-6
In:
year:2015
In:
pages:203-221
Language:
German
Keywords:
Japan
;
Abe, Shinzō 1954-2022
;
Wirtschaftspolitik
;
Fiskalpolitik
;
Geldpolitik
;
Strukturreform
DOI:
10.48796/20230707-046
URN:
urn:nbn:de:0308-20230707-046-1
Author information:
Tiefenbach, Tim 1981-
