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2015 | OriginalPaper | Buchkapitel

1. Fiscal Consolidation in the Political Economy of Japan

verfasst von : Toshihiro Ihori

Erschienen in: The Political Economy of Fiscal Consolidation in Japan

Verlag: Springer Japan

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Abstract

The present chapter highlights several important factors of fiscal consolidation in Japan by investigating incentives for governments and private agents to either implement or postpone consolidation and structural fiscal reforms in a political economy. This chapter shows that the counter-cyclical fiscal measures, which result in the accumulation of public debt, are not always desirable from a long-run perspective. The long-run commitment to fiscal consolidation may enhance fiscal structural reforms even if these reforms might produce short-run costs and, hence, cause severe resistance from interest groups.

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0.935 in Hokuriku and −0.200 in Shikoku. The income data source is Statistical Survey on Farm Management and Economy. The source of the governmental data and the price deflator are the same as in footnote 1.

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Titel: Fiscal Consolidation in the Political Economy of Japan
verfasst von: Toshihiro Ihori
Verlag: Springer Japan
Buch: The Political Economy of Fiscal Consolidation in Japan
Print ISBN: 978-4-431-55126-3

Electronic ISBN: 978-4-431-55127-0

Copyright-Jahr: 2015
DOI: https://doi.org/10.1007/978-4-431-55127-0_1