RT Generic
A1 Jones, Randall S.
A1 Yoo, Byungseo
T1 Japan's New Growth Strategy to Create Demand and Jobs
JF OECD Economics Department Working Papers
YR 2011
FD sept. 06
K1 New Growth Strategy
K2 free trade agreements
K3 Asian economic integration
K4 economic partnership agreements
K5 regional development
K6 green growth
K7 health care reforms
K8 Japan
K9 foreign direct investment
K10 financial sector
K11 climate change
K12 regulatory reforms
K13 immigration
K14 Japanese economy
AB The New Growth Strategy aims to create demand and jobs through regulatory reform and fiscal measures. The Strategy focuses on key challenges, notably climate change and population ageing, which can be turned into sources of growth. Given Japan’s precarious fiscal position, it is essential to co-ordinate spending related to the Strategy with the medium-term fiscal plan, in part by increasing the emphasis on regulatory reform. Such measures should cover the entire economy, rather than being limited to the seven areas identified in the Strategy. Among those areas, effectively promoting green innovation will require market-based instruments to place a price on carbon, preferably through a mandatory and comprehensive emissions trading system, to promote private investment, accompanied by a range of other policies. Achieving deeper economic integration with Asia depends on reducing support for agriculture to facilitate more bilateral and regional trade agreements, while bringing down barriers to foreign direct investment and foreign workers. Policies to expand venture capital would help launch innovative firms. This Working Paper relates to the 2011 OECD Economic Survey of Japan (www.oecd.org/eco/surveys/Japan).
PB Organisation for Economic Co-operation and Development
DO 10.1787/5kg58z5z007b-en
UL http://www.oecd-ilibrary.org/;jsessionid=dlet05llf84b8.x-oecd-live-01content/workingpaper/5kg58z5z007b-en