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How Japan is (not) dealing with the public finance crisis

Author

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  • Takeshi Fujitani

    (UTokyo - The University of Tokyo)

Abstract

This text analyzes the precarious situation of public finance in Japan, marked by a massive national debt that reaches record levels among developed countries. The author explains that this financial burden results from prolonged economic stagnation, the increase in social security costs linked to the aging population, and the failure of tax reforms. Despite these alarming indicators, the country avoids an immediate crisis thanks to massive monetary interventions by the Bank of Japan and strong support from domestic investors. However, the document highlights that this apparent stability relies on unconventional strategies whose long-term viability remains uncertain. Ultimately, the study questions the government's ability to maintain this balance without triggering major economic instability.

Suggested Citation

  • Takeshi Fujitani, 2019. "How Japan is (not) dealing with the public finance crisis," Post-Print hal-05615231, HAL.
    • Handle: RePEc:hal:journl:hal-05615231
    Note: View the original document on HAL open archive server: https://hal.science/hal-05615231v1
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    File URL: https://hal.science/hal-05615231v1/document
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