”In the last few years, policy makers in Japan have embarked on an ambitious effort to decisively get the economy out of deflation and revive growth. This policy approach, which has been dubbed “Abenomics” after Prime Minister Shinzo Abe, comprises three so-called “arrows”, namely monetary policy, fiscal policy, and growth enhancing structural reforms. In this article, we seek to evaluate the effects of Abenomics’ reforms in terms of inclusiveness. Inclusive growth is a multidimensional concept and the notion has varying definitions, interpretations and connotations. To study the degree of inclusiveness of the Japanese economy, we will first review trends in equity, and then refer to econometric studies attempting to assess how implementation of Abenomics is expected to affect inclusive growth…..”.
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Source: Research Institute of Economy, Trade and Industry
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