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This 2015 OECD Economic Survey of Japan examines recent economic developments, policies and prospects. Special chapters cover enhancing innovation and dynamism; and reducing government debt.
This 2017 OECD Economic Survey of Japan examines recent economic developments, policies and prospects. The special chapters cover productivity for inclusive growth and fiscal sustainability.
This OECD Economic Survey of China examines recent economic developments, policies and prospects. Special chapters cover skills and education as well as rural development.
Japan has navigated the dual shock of the pandemic and the energy crisis well. However, significant headwinds from weak global growth, geopolitical tensions and high inflation highlight the importance of enhancing the Japanese economy’s resilience to shocks. In a context of inflation, which has risen above target, and pressures from divergent monetary policy from peers, adjustments to monetary policy settings have commenced. Given high public debt, fiscal consolidation to rebuild fiscal buffers, underpinned by a credible medium-term fiscal framework to put the debt-to-GDP ratio on a clear downward path, is key. Longer-term sustainability also requires reducing greenhouse gas emissions in line with government targets, calling for green investment, innovation and carbon pricing. Reforms to improve the innovation framework and incentives for start-ups are key to boost productivity and address ageing pressures. Removing obstacles to the employment of women and older persons and making greater use of foreign workers are also essential to counter demographic headwinds. Strengthening the financial position of young people and policies to support families and children, such as improved parental leave, would help to reverse the downward trend in the fertility rate. SPECIAL FEATURE: ADDRESSING DEMOGRAPHIC HEADWINDS
Japan's current economic expansion is its longest of the post-war era, with per capita output growth nearly matching the OECD area since 2012. However, the expansion has peaked and global uncertainties weigh on the outlook. Growth is projected to continue at a moderate rate, supported by expansionary monetary policies and fiscal measures to offset the 2019 consumption tax rate hike. Notwithstanding rising female participation, labour shortages are intensifying, reflecting Japan's shrinking and ageing population, thus underlining the importance of labour market reform. Traditional labour practices, such as seniority-based wages and mandatory retirement, are poorly suited to the era of 100-year lives. Comprehensive reforms, including abolishing the right of firms to set mandatory retirement and removing obstacles to female employment, are essential. Population ageing also puts further upward pressure on public social spending and government debt, which relative to GDP is already the highest ever recorded in the OECD area. Japan needs a comprehensive fiscal consolidation plan covering specific spending cuts and revenue increases to ensure fiscal sustainability. It is essential to contain the rise in health and long-term care spending, while expanding the joint provision of local public services across jurisdictions and developing compact cities in the context of depopulation. SPECIAL FEATURES: LABOUR REFORM IN AN AGEING SOCIETY; ENSURING FISCAL SUSTAINABILITY
This 2002 edition of OECD's periodic economic survey of Japan examines recent economic developments, policies and prospects and includes special features covering structural reform and sources of growth.
This 2009 edition of OECD's periodic review of Japan's economy includes chapters on overcoming the global crisis, improving the efficiency of the banking sector, the fiscal response to the crisis and fiscal sustainability, health care reform, and ...
OECD's 1973 Economic Survey of Japan examines the business upswing and the price rise; the balance of payments; economic policy and prospects; and the basic economic and social plan for 1973-1977 before drawing a series of conclusions.
OECD's 2005 Economic Survey of Japan analyses whether Japan can sustain its economic expansion. The special report examines how Japan gets the most out of public sector decentralisation.
OECD's 2013 Economic Survey of Japan examines recent economic developments, policies and prospects. The special chapter is titled From tragedy to revitalisation.
OECD's 2011 review of the Japanese economy. This edition includes chapters covering the economic recovery, achieving fiscal stability, Japan's growth strategy to create demand and jobs, education reform in Japan, and labour market reforms to improve ...
Japan’s current economic expansion is its longest of the post-war era, with per capita output growth nearly matching the OECD area since 2012. However, the expansion has peaked and global uncertainties weigh on the outlook. Growth is projected to continue at a moderate rate, supported by expansionary monetary policies and fiscal measures to offset the 2019 consumption tax rate hike.