Japan: Economic and Policy Developments

International Monetary Fund

No 1997/091, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper reviews economic and policy developments in Japan during the 1990s. It suggests that, while growth is likely to be adversely affected in the near term owing to the fiscal consolidation measures adopted as part of the FY1997 budget, the prospects are favorable for continued economic recovery, supported by improved labor market developments and external demand. A declining working-age population, however, will constrain underlying growth over the longer term. The paper also suggests that a deeper and more accelerated fiscal adjustment would help ensure a declining debt ratio over the medium term.

Keywords: ISCR; CR; financial market; real GDP; unemployment rate; first quarter; government bond; market share; price index; holding company; fiscal policy; General government; potential GDP; Loans; Securities; Insurance; Southeast Asia (search for similar items in EconPapers)
Pages: 108
Date: 1997-10-31
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Persistent link: https://EconPapers.repec.org/RePEc:imf:imfscr:1997/091

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