SHERP

Japan's Fiscal Policy: Sustainability of Government Deficits

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Authors
Ihori, Toshihiro
Issue Date
2004
Publisher
Seoul Journal of Economics
Citation
Seoul Journal of Economics 17 (No. 1 2004): 1-24
Keywords
Japans fiscal poliy; Sustainability; Deicits
Abstract
The purpose of this paper is to analysis the Japanese fiscal policy particularly from the viewpoint of the sustainability problem of government bond policy and the fiscal reconstruction movement in Japan. This paper first summarizes Japan's fiscal policies in the 1990s. Then, we investigate the macroeconomic impact of government debt and fiscal difficulties of heavy dependency of debt finance in the public sector. We find that fiscal sustainability may become a serious issue. We also explore political constraints to the fiscal reconstruction movements. In order to realize successful fiscal reconstruction, the central government needs to restrain lobbying activities of local political groups.
ISSN
1225-0279
Language
English
URI
http://hdl.handle.net/10371/1307
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College of Social Sciences (사회과학대학)Institute of Economics Research (경제연구소)Seoul Journal of EconomicsSeoul Journal of Economics vol.17(1) (Spring 2004)
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