Challenges for Japan fs Fiscal Consolidation

Sugimoto Kazuyuki and Ueda Junji
Additional contact information
Sugimoto Kazuyuki: Chairman, Japan Fair Trade Commission Former Professor, Graduate School of Public Policy, The University of Tokyo Former Administrative Vice-Minister, Ministry of Finance
Ueda Junji: Former Director for Econometric Analysis, Policy Research Institute, Ministry of Finance

Public Policy Review, 2013, vol. 9, issue 4, 717-734

Abstract: This paper describes Japan fs past and current fiscal situations and discusses necessary actions for future fiscal consolidation. Since 1990s, the government expenditure has steadily increased due to growing social security benefits along with aging society, but the level of government revenue has little changed. Despite the increase in government debt, actions for fiscal consolidation have been delayed due to lax monetary condition and lack of continuous commitment with public support. Since political support for fiscal policies are asymmetric between gausterity h and gexpansion f, it is vital for achieving fiscal consolidation to set up legislative fiscal rules with concrete targets and tractable measures, in addition to basic Public Finance Law.

Keywords: fiscal rule; fiscal consolidation (search for similar items in EconPapers)
JEL-codes: H6 N45 (search for similar items in EconPapers)
Date: 2013
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://warp.da.ndl.go.jp/info:ndljp/pid/11217434/w ... w/ppr023/ppr023f.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:mof:journl:ppr023f

Access Statistics for this article

More articles in Public Policy Review from Policy Research Institute, Ministry of Finance Japan Contact information at EDIRC.
Bibliographic data for series maintained by Policy Research Institute ().