 Three Arrows of “Abenomics” and the Further Remedy for the Japanese EconomyNaoyuki Yoshino () and Farhad Taghizadeh-Hesary () Chapter Chapter 7 in Japan’s Lost Decade, 2017, pp 135-145 from Springer Abstract: Abstract “Abenomics” refers to the economic policies advocated by Prime Minister Shinzo Abe, who became Prime Minister of Japan for a second time when his party, the Liberal Democratic Party, won an overwhelming majority at the general election in December 2012. Abenomics is distinguished by sets of policies that comprise “three arrows”: (i) an aggressive monetary policy, (ii) fiscal consolidation, and (iii) a growth strategy. The Japanese economy faces an aging population and expanding social welfare expenses. No other country has experienced Japan’s rapid growth of retired people. In this chapter we will explain these three aspects of Abenomics and the current state of the Japanese economy and examine what further remedies may be required if Japan is to recover from its long-term deflation. Among remedies we will highlight hometown investment trust (HIT) funds, as a new way of financing start-up businesses and SMEs. The sector that dominates the Japanese economic output and employment. Keywords: Abenomics; Monetary policy; Fiscal consolidation; Home town investment trust funds (HIT) (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:spr:adbchp:978-981-10-5021-3_7 Ordering information: This item can be ordered from DOI: 10.1007/978-981-10-5021-3_7 Access Statistics for this chapter More chapters in ADB Institute Series on Development Economics from Springer |
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