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2011 OECD Economic Surveys: Japan 2011

image of OECD Economic Surveys: Japan 2011

OECD's 2011 review of the Japanese economy.  This edition includes chapters covering the economic recovery, achieving fiscal stability, Japan's growth strategy to create demand and jobs, education reform in Japan, and labour market reforms to improve growth and equity.

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Assessment and recommendations

Great East Japan Earthquake on 11 March 2011, the strongest ever recorded in Japan, led to a tsunami and an enormous loss of human life, as well as massive economic damage. The impact has been exacerbated by the damage to thermal and nuclear power plants, which significantly reduced electricity generation. While it is still too early to assess the overall impact, it is likely to exceed the damage to the physical capital stock caused by the 1995 Hanshin-Awaji (Kobe) earthquake, which is estimated at 2% of annual GDP. A key priority has been to address the serious humanitarian needs resulting from the disaster.

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