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Japan: Boosting Growth and Well-being in an Ageing Society

Author: Organisation for Economic Co-operation and Development.
Publisher: Paris : OECD Publishing, 2016.
Series: Better Policies
Edition/Format:   eBook : Document : International government publication : EnglishView all editions and formats
Summary:
With 25 years of sluggish economic growth, Japan's per capita income has fallen from a level matching the average of the top half of OECD countries in the early 1990s to 14% below that today. Weak growth, together with rapid population ageing, has driven public debt into uncharted territory. Revitalising growth is thus the top priority for the Japanese government. With the labour force shrinking more rapidly than  Read more...
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Genre/Form: e-book [online only]
Material Type: Document, Government publication, International government publication, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Organisation for Economic Co-operation and Development.
ISBN: 9789264256507 9264256504
OCLC Number: 949824813
Description: 1 online resource.
Series Title: Better Policies
Responsibility: Organisation for Economic Co-operation and Development.

Abstract:

With 25 years of sluggish economic growth, Japan's per capita income has fallen from a level matching the average of the top half of OECD countries in the early 1990s to 14% below that today. Weak growth, together with rapid population ageing, has driven public debt into uncharted territory. Revitalising growth is thus the top priority for the Japanese government. With the labour force shrinking more rapidly than the population, per capita output can only grow through improvements in labour productivity and labour force participation. Japan's highly-skilled labour force and its technological leadership can help close the gap with leading OECD countries in per capita income. But broad-based structural reforms, as envisaged in the third arrow of Abenomics, are needed to allow these strengths to fully achieve their potential. The initial impact of Abenomics in 2013 was impressive, and the reform process needs to continue.

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