{"id":536,"date":"2014-09-17T15:00:02","date_gmt":"2014-09-17T06:00:02","guid":{"rendered":"https:\/\/www.nomurafoundation.or.jp\/en\/?p=536"},"modified":"2026-01-28T15:56:32","modified_gmt":"2026-01-28T06:56:32","slug":"macro_issue09","status":"publish","type":"post","link":"https:\/\/www.nomurafoundation.or.jp\/en\/macro\/macro_issue09.html","title":{"rendered":"Can Abenomics Restore Japan&#8217;s Growth?"},"content":{"rendered":"\t\t\t<section class=\"content\">\r\n\t\t\t\t<div class=\"section_content_wrap\">\r\n\t\t\t\t\t<div class=\"link_fuchi\">\r\n\t\t\t\t\t\t<a href=\"https:\/\/www.nomurafoundation.or.jp\/include\/img\/2014\/09\/MEP_No9.pdf\" target=\"_blank\">\r\n\t\t\t\t\t\t\tMacro Economy Proceedings, Issue No. 9, January, 2014 (PDF: 908 KB)\r\n\t\t\t\t\t\t<\/a>\r\n\t\t\t\t\t<\/div>\r\n\t\t\t\t<\/div>\r\n\t\t\t\t<div class=\"section_content_wrap\">\r\n\t\t\t\t\t<h4 class=\"h4_title\">\r\n\t\t\t\t\t\tCan Abenomics Restore Japan's Growth?\r\n\t\t\t\t\t<\/h4>\r\n\t\t\t\t\t<dl class=\"midashi_bold_list\">\r\n\t\t\t\t\t\t<dt>\r\n\t\t\t\t\t\t\tTakeo Hoshi\r\n\t\t\t\t\t\t<\/dt>\r\n\t\t\t\t\t\t<dd>\r\n\t\t\t\t\t\t\tSenior Fellow and Director, Japan Studies Program, Shorenstein Asia-Pacific Research Center, Stanford University<br>Professor of Finance, Stanford Graduate School of Business\r\n\t\t\t\t\t\t<\/dd>\r\n\t\t\t\t\t<\/dl>\r\n\t\t\t\t\t<dl class=\"midashi_bold_list\">\r\n\t\t\t\t\t\t<dt>\r\n\t\t\t\t\t\t\tABSTRACT:\r\n\t\t\t\t\t\t<\/dt>\r\n\t\t\t\t\t\t<dd>\r\n\t\t\t\t\t\t\t<p class=\"page_text\">\u2018Abenomics,\u2019 the economic policy pursued by Japan since the Abe government took office at the end of 2012, has been discussed frequently inside and outside the country. Many observers of the Japanese economy apparently hope that Abenomics may finally end Japan\u2019s economic stagnation. Can Abenomics restore Japan\u2019s growth?<\/p>\r\n\t\t\t\t\t\t\t<p class=\"page_text\">After describing the policy\u2019s three \u2018arrows,\u2019 this paper addresses the question by reviewing why Japan fell into a prolonged stagnation and then examining how--and whether--each of the three elements will hit their targets and restore dynamism to the economy. The conclusion is that while it is promising, Abenomics cannot succeed unless the government refocuses the growth strategy \u2018arrow\u2019 on the programs that are indeed likely to raise the long-term growth rate.<\/p>\r\n\t\t\t\t\t\t<\/dd>\r\n\t\t\t\t\t<\/dl>\r\n\t\t\t\t<\/div>\r\n\t\t\t<\/section>","protected":false},"excerpt":{"rendered":"Macro Economy Proceedings, Issue No. 9, January, 2014 (PDF: 908 KB) Can Abenomics Restore Japan's Growth? Take [&hellip;]","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6,13,14],"tags":[],"class_list":["post-536","post","type-post","status-publish","format-standard","hentry","category-macro","category-macro_highlight","category-macro_publication"],"_links":{"self":[{"href":"https:\/\/www.nomurafoundation.or.jp\/en\/wp-json\/wp\/v2\/posts\/536","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nomurafoundation.or.jp\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nomurafoundation.or.jp\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nomurafoundation.or.jp\/en\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nomurafoundation.or.jp\/en\/wp-json\/wp\/v2\/comments?post=536"}],"version-history":[{"count":4,"href":"https:\/\/www.nomurafoundation.or.jp\/en\/wp-json\/wp\/v2\/posts\/536\/revisions"}],"predecessor-version":[{"id":11649,"href":"https:\/\/www.nomurafoundation.or.jp\/en\/wp-json\/wp\/v2\/posts\/536\/revisions\/11649"}],"wp:attachment":[{"href":"https:\/\/www.nomurafoundation.or.jp\/en\/wp-json\/wp\/v2\/media?parent=536"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nomurafoundation.or.jp\/en\/wp-json\/wp\/v2\/categories?post=536"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nomurafoundation.or.jp\/en\/wp-json\/wp\/v2\/tags?post=536"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}