The economic situation warrants no optimism on its future course. The ruling and major opposition parties, which have finished their presidential elections, are turning attention to the Diet dissolution and a snap election rather than policies. The political stalemate could facilitate an economic downturn, possibly unraveling the scenario to restore fiscal health, including a consumption tax increase. Japan Center for Economic Research (JCER) makes urgent policy proposals to contain the immediate risk of economic recession while aiming for strategic fiscal management over the medium term. Ahead of the 2012 Annual Meetings of the International Monetary Fund and the World Bank Group to be started in Tokyo on Oct. 9, we also propose frameworks which will help arrest the yen’s appreciation and stabilize the financial system.
- Maintain fiscal discipline by establishing an independent institution
- Implement drastic reform to accelerate growth
Roadmap for Financial Reform
- Currency reform to end the deflationary economy
Global Financial Framework to Ensure Growth
Policy Proposal To Ward Off Economic Recession And Stem Yen's Ascent
Policy Proposals for the response of the Great East Japan Earthquake