<abstract xmlns="http://www.w3.org/1999/xhtml"><p>This article addresses Japan’s economy, its new economic policy package, which is known as Abenomics. The centerpiece of Abenomics has been the three “economic arrows” targeted at aggressive monetary policy, flexible fiscal policy, and growth strategy. This article focuses on Abenomics and shows the measures undertaken by the administration. The research question is: to what extent the policy package contributes to stimulating the economy? This question relates to the main problem of the effectiveness of Abenomics. The main purpose of this article is an attempt to evaluate Abenomics from the perspective of 5 years since the time of its announcement.</p></abstract>

This article addresses Japan’s economy, its new economic policy package, which is known as Abenomics. The centerpiece of Abenomics has been the three “economic arrows” targeted at aggressive monetary policy, flexible fiscal policy, and growth strategy. This article focuses on Abenomics and shows the measures undertaken by the administration. The research question is: to what extent the policy package contributes to stimulating the economy? This question relates to the main problem of the effectiveness of Abenomics. The main purpose of this article is an attempt to evaluate Abenomics from the perspective of 5 years since the time of its announcement.

Abenomics: from the “Great Stagnation” to the “Three-Arrows Strategy”

International Journal of Management and Economics

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

This article addresses Japan’s economy, its new economic policy package, which is known as Abenomics. The centerpiece of Abenomics has been the three “economic...

Year	Real GDP (in % change)	Output gap (in % change)	Business investment (in % change)	CPI deflator (in annual average)	Unemployment rate (in annual average)
2012	1.5	−3.7	4.1	−0.1	4.3
2013	2.0	−2.2	3.7	0.3	4.0
2014	0.4	−2.6	5.4	2.8	3.6
2015	1.4	−2.0	3.4	0.8	3.4
2016	1.0	−1.8	0.6	−0.1	3.1
2017	1.7	−0.7	2.9	0.5	2.9

Abenomics: from the “Great Stagnation” to the “Three-Arrows Strategy”

Article Category: Conceptual Paper

Published Online: Sep 30, 2019

Page range: 201 - 211

Received: May 12, 2019

Accepted: Jul 12, 2019

DOI: https://doi.org/10.2478/ijme-2019-0018

Keywords
Abenomics, deflation, stagnation, monetary policy, fiscal policy, economic growth

© 2019 Jerzy Grabowiecki, published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

Figure 1

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Japan: selected indicators, 2012–2017

Abenomics: from the “Great Stagnation” to the “Three-Arrows Strategy”

Article Category: Conceptual Paper

Published Online: Sep 30, 2019

Page range: 201 - 211

Received: May 12, 2019

Accepted: Jul 12, 2019

DOI: https://doi.org/10.2478/ijme-2019-0018

KeywordsAbenomics, deflation, stagnation, monetary policy, fiscal policy, economic growth

© 2019 Jerzy Grabowiecki, published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

Figure 1

Figure 2

Figure 3

Figure 4

Figure 5

Figure 6

Figure 7

Figure 8

Japan: selected indicators, 2012–2017

Keywords
Abenomics, deflation, stagnation, monetary policy, fiscal policy, economic growth