Dilemma abenomics with proper practice
Date Issued
2016
Date
2016
Author(s)
Hsu, Chieh-Chih
Abstract
December 29, 1989, a record high on Nikkei station 38957 points, hot money into real estate, Japanese prices were way fried earthshaking. 1990 Japan''s total land value of $ 15 trillion, more than the total value of US land assets more than four times the total amount of real estate in Tokyo 23 light district, known as 25 times the land area can be bought in Japan Homeland, which is the bubble . Japanese government in order to suppress exaggerated prices, tightening policy in 1990, did not expect the revised prices, but Japan was also burst the bubble economy without substantial support. In 2000 the Japanese themselves wrote a book called ""lost decade."" 2010 Americans for Japan to write another book, called ""lost two decades."" 2012.12 Japanese Prime Minister Shinzo Abe took office after the second, put forward economic reform policies known as Abe economics. Abenomics economic policy objectives contained, from the long-term goals and short-term objectives of deflation continued economic growth, policy implementation includes three arrows bold monetary easing 1. 2. 3. flexible fiscal policy evoke private investment growth strategy, what economists call ""Abe three arrows."" Implementation expired three years Abe 3 arrows, ""loose monetary policy"", ""flexible fiscal policy,"" ""growth strategy"" if Japan led economic recovery? Yen a year and a half before the devaluation, the stock market rebounded from deflation can indeed positive evaluation, but the key to economic growth, such as inadequate weak personal consumption reply & forward cyclical strength, still unable to gain recognition from all sectors. Regression abenomics unfinished successful argument, I believe that the key lies in the enforcement of the first three arrows growth strategy structural reforms. Ballot considerations, Zhi Zhou opposition, economists critique, geopolitical territorial disputes, amassing affect the degree of reform and open-door relationship structure. Whether abenomics stimulate growth? Feinted? Success or failure of a non-conclusive yet, but at least it stirred the national consciousness of the Japanese whole country, Abe''s economic miracle will not burst, let us wait and see.
Subjects
Abenomics
monetary policy
fiscal policy
structural reforms
the trickle-down effect
Type
thesis
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