1. Economic Survey of Japan, 2005
- Publication Date:
- 01-2005
- Content Type:
- Policy Brief
- Institution:
- The Organisation for Economic Co-operation and Development
- Abstract:
- The strengthening of the economy has raised hopes that Japan is emerging from a decade of stagnation. Output has been increasing at a more than 2 per cent annual rate since 2002, reflecting strong external demand and the progress made in corporate restructuring and economic reform. However, Japan still faces a number of serious headwinds to sustained growth, notably entrenched deflation and continued declines in bank lending and land prices. Meanwhile, the government's financial position continues to deteriorate, raising concerns about fiscal sustainability at the same time that population ageing is increasing demands for public spending. Addressing these challenges requires a combination of well-designed macroeconomic policies and structural measures to boost the growth potential and ensure rising living standards in the face of rapid population ageing.
- Topic:
- Economics, Government, and International Trade and Finance
- Political Geography:
- Japan and Israel