IDEAS home Printed from
   My bibliography  Save this paper

Policy Uncertainty and Business (Japanese)


  • MORIKAWA Masayuki


This paper, using data from an original survey of Japanese listed companies, presents empirical findings on subjective uncertainties over major economic variables and economic policies and the effects of these uncertainties on business operation. A large number of Japanese companies now expect positive growth in sales and a moderate increase in the inflation rate in the medium term, but perceive uncertainty over these expectations. The companies feel uncertainty over the future course of several economic policies, such as the international trade policy and the social security system. Uncertainty over the tax system, trade policy, and environmental policy has serious effects on the managerial decision of the companies, especially on equipment investment and overseas operation. Among non-manufacturing companies, uncertainty over the social security system and labor market regulations affects employee hiring and organizational restructuring. In order to achieve economic growth by promoting forward-looking investments, it is essential to enhance the predictability of the fundamental economic policies and institutions.

Suggested Citation

  • MORIKAWA Masayuki, 2013. "Policy Uncertainty and Business (Japanese)," Discussion Papers (Japanese) 13043, Research Institute of Economy, Trade and Industry (RIETI).
  • Handle: RePEc:eti:rdpsjp:13043

    Download full text from publisher

    File URL:
    Download Restriction: no

    More about this item

    NEP fields

    This paper has been announced in the following NEP Reports:


    Access and download statistics


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eti:rdpsjp:13043. 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: (MATSUKURA, Taeko). General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.