Slide 3: Japan Abenomics

Question 1

Abenomics

Answer 1

Japan’s Abenomics was introduced during Shinzo Abe’s role as Prime Minister, aimed to strengthen Japan’s economy by combining fiscal policy, and structural reforms. Here’s a brief link to Joseph Stiglitz’s views in the context of Abenomics:

Question 2

Fiscal Policy

Answer 2

Abenomics included fiscal policies such as increased government spending on public works, and measures stimulating economic activities.

This aligns with Stiglitz’s view that fiscal policy can be used for demand management, especially during periods of economic stagnation.

Question 3

Structural Reforms

Answer 3

Abenomics also emphasized structural reforms, such as deregulation and labor market changes, such as performance-based pay, and greater participation of women in the workforce, with the goal of enhancing long-term productivity and competitiveness. Aligning with Stiglitz’s view.