Demystifying Japan's Economic Recovery
After having undergone protracted economic doldrums, Japan has begun to attract the world's attention. Prime Minister Shintaro Abe, taking office in September 2006, pledged to continue his predecessor's reforms while looking to closer economic ties with Japan's neighboring countries. This paper examines the challenges the Abe administration must address, the reforms the administration still needs to tackle, and the problems that lie ahead. It starts with an evaluation of Japan's economic condition from a long-term perspective, especially the drastic change in its labor market and its rapidly aging society. It then discusses the unfinished reforms the government is facing—restored fiscal balances, a less-regulated economy both at home and abroad, and a new innovation-driven growth path. In sharp contrast to his single-minded and charismatic predecessor, Prime Minister Abe has taken a less spectacular and more nuanced stance toward reforms. A more market-principled Japan will create increased competitive conditions for economic players in both the private and public sectors. Japan's economy will face a precarious state—swinging between an economy armed with marketbased principles (but suffering from a “growth pain”) and an “ugly Japan” that divides the haves and the have-nots.Business Economics (2007) 42, 29–35; doi:10.2145/20070304
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 42 (2007)
Issue (Month): 3 (July)
|Contact details of provider:|| Web page: http://www.palgrave-journals.com/|
|Order Information:|| Postal: Palgrave Macmillan Journals, Subscription Department, Houndmills, Basingstoke, Hampshire RG21 6XS, UK|
Web: http://www.palgrave-journals.com/pal/subscribe/index.html Email:
When requesting a correction, please mention this item's handle: RePEc:pal:buseco:v:42:y:2007:i:3:p:29-35. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Iulia Badea)
If references are entirely missing, you can add them using this form.