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1 – 10 of 78This paper examines policies of Abenomics and explains their ineffectiveness through historical comparisons. In conclusion, Abenomics raises serious concerns about Japanese…
Abstract
This paper examines policies of Abenomics and explains their ineffectiveness through historical comparisons. In conclusion, Abenomics raises serious concerns about Japanese economy. It offsets the effects of its aggressive monetary expansion by increasing consumption taxes. It has tilted the distribution of income in favor of financial speculation, but the returns have not benefitted the nonfinancial economy. It has enriched investors, corporate profits, and exporters but not Japan’s workers, households, and general economy. It ignores the structural problems. Specifically, its deregulation of labor markets reduced household income by raising the number of nonregular workers. Higher wages in general and providing more workers with stable, well-paid employment are among necessary reforms. It will be difficult to achieve a sustainable economic recovery in Japan without proceeding with these types of policy changes.
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Keywords
JAPAN: Abenomics diverts from Constitution plans
JAPAN: Tourism arrow on course for Abenomics target
JAPAN: TPP gives 'third arrow' substance at last
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DOI: 10.1108/OXAN-ES205800
ISSN: 2633-304X
Keywords
Geographic
Topical
The Abe government's economic policies.
Once one of the most prominent economies in the world, Japan is currently suffering from economic stagnancy. To revitalize the economy effectively, the core problems of Japan and…
Abstract
Purpose
Once one of the most prominent economies in the world, Japan is currently suffering from economic stagnancy. To revitalize the economy effectively, the core problems of Japan and its economy need to be first identified. This paper aims to understand accurately what the fundamental reasons are for Japan’s current economic stagnancy.
Design/methodology/approach
The generalized double diamond model, which is an extension of Porter’s original diamond model is used to incorporate internationalization which is very important for Asian countries, notably Japan. Furthermore, its competitiveness is compared with neighboring countries that are in competition in the global market.
Findings
Japan’s current economic problems and its slow recovery are because of a lack of globalization vis-à-vis its counterparts in the region, rather than specific macro-economic factors. Hence, further globalization is crucial toward ensuring a further take-off for the economy.
Practical implications
Macro-economic policies may be important but cannot directly improve a nation’s competitiveness. This paper highlights the importance of globalization and concludes that multinational activities are crucial to enhance a nation’s competitiveness in both domestic and international scope.
Originality/value
This paper adopts the concept of national competitiveness to examine the fundamental economic problems of Japan’s slow recovery and stagnancy more comprehensively. In particular, it compares the competitiveness of Japan with its neighbors which are its economic competitors.
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Prospects for Japan in 2016.
Details
DOI: 10.1108/OXAN-DB206761
ISSN: 2633-304X
Keywords
Geographic
Topical
Not all former prime ministers have sought to influence political affairs after retirement. However, since taking control of the largest faction within the party late last year…
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DOI: 10.1108/OXAN-DB271389
ISSN: 2633-304X
Keywords
Geographic
Topical
The Abe government's economic policy.
Upward revisions to the previous two quarters brought Japan’s growth rate to more than 2% year-on-year and meant that Japan's economy has now reported six consecutive quarters of…