Suchergebnisse

Frontmatter -- Contents -- Figures and tables -- Acknowledgments -- One. Introduction -- Two. Understanding the filp system -- Three. The common origins of budget restraint and filp, 1945-1953 -- Four. Balancing fiscal policy, industrialization, and distributive politics, 1953-1970 -- Five. The electoral logic of filp allocations, 1960-1993 -- Six. Pushing the limits of the filp compromise, 1970-1990 -- Seven. The politics of filp reform, 1990-2001 -- Eight. The Koizumi reforms and the legacy of filp, 2001 and after -- Nine. Conclusion -- Notes -- Bibliography -- Index

Japan suffered from mild but persistent deflation from the 1990s through 2012 that eroded its economic vitality. The Bank of Japan (BOJ) took a cautious approach to confronting deflation until Shinzo Abe came to power in 2012. Abe appointed new leadership to the BOJ that implemented bold "unconventional" measures to pull Japan out of deflation. These policies may be ineffective in a future downturn, thus requiring consideration of other options.

In the past decade, the Japanese government has revamped its budget institutions twice. This paper examines how these changes have changed the configuration of power among the actors in the budget process. It also explores the implications of these changes for the management of the nation's finances.

This article examines how pensions are interwoven with the public and private financial system in Japan and the consequences for pension reform. A growing literature focuses on the multifaceted ways in which pensions are interwoven with the larger political economy. This study builds on this literature and finds that (a) public and private pensions have been integrated deeply into Japan's system of developmental finance, (b) this integration has created new economic and political problems as governments have attempted to shift away from its developmental model through deregulation, liberalization, and administrative reform, and (c) because pension reform is intimately linked with these reforms, it involves addressing fundamental issues regarding the role of the state, finance, and firms. These findings collectively illustrate that pension reform is not only driven by issues of fiscal viability and benefit levels, but also by the nature of the way in which pensions are integrated into a country's system of finance.

This article examines how pensions are interwoven with the public & private financial system in Japan & the consequences for pension reform. A growing literature focuses on the multifaceted ways in which pensions are interwoven with the larger political economy. This study builds on this literature & finds that (a) public & private pensions have been integrated deeply into Japan's system of developmental finance, (b) this integration has created new economic & political problems as governments have attempted to shift away from its developmental model through deregulation, liberalization, & administrative reform, & (c) because pension reform is intimately linked with these reforms, it involves addressing fundamental issues regarding the role of the state, finance, & firms. These findings collectively illustrate that pension reform is not only driven by issues of fiscal viability & benefit levels, but also by the nature of the way in which pensions are integrated into a country's system of finance. 5 Tables, 1 Figure, 34 References. Adapted from the source document.

1. Introduction / Gene Park and Eisaku Ide -- 2. The difficulty of fiscal consolidation in France / Anna Konishi and Frederic Tristram -- 3. Fiscal performance in Germany : the role of electoral competition / Achim Kemmerling and Zbigniew Truchlewski -- 4. Fiscal performance in Italy : a historical institutionalist approach / Benedicta Marzinotto -- 5. Explaining Japan's fiscal performance : why has it become an Outlier? / Masayuki Takahashi and Takaharu Shimada -- 6. Fiscal performance in South Korea (1970-2012) : budgetary reforms with growing non-budgetary indiscipline / Myung-Koo Kang -- 7. Fiscal performance in Sweden / Jonas Edlund and Morinao Iju -- 8. Long-run fiscal consolidations in the United States : the history at the federal level / W. Elliot Brownlee -- 9. Politics, fiscal performance, and external sources of budget discipline in the United States, 1970-2013 -- 10. Weaving the basket : elusive fiscal convergence in the European Union / Edward A. Fogarty -- 11. Conclusion / Eisaku Ide and Gene Park.

Featuring the work of an international interdisciplinary team of scholars, this volume explains patterns of fiscal performance (persistent patterns of budget deficits and government debt) from the 1970s to the present across seven countries - France, Italy, Germany, Japan, South Korea, Sweden, and the United States. Employing a comparative case study approach, seldom employed in studies of fiscal performance, contributions illuminate the complex causal factors often overlooked by quantitative studies and advances our theoretical understanding of fiscal performance.

The last bastions of multilateralism and rules-based cooperation in an era of great-power nationalism are joining forces to preserve the architecture of global interdependence.

[D]o the EU and Japan have the capabilities and resolve to save the global multilateral order—and save themselves?