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Fiscal Consolidation in the Political Economy of Japan

In: The Political Economy of Fiscal Consolidation in Japan

Author

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  • Toshihiro Ihori

    (University of Tokyo)

Abstract

The present chapter highlights several important factors of fiscal consolidation in Japan by investigating incentives for governments and private agents to either implement or postpone consolidation and structural fiscal reforms in a political economy. This chapter shows that the counter-cyclical fiscal measures, which result in the accumulation of public debt, are not always desirable from a long-run perspective. The long-run commitment to fiscal consolidation may enhance fiscal structural reforms even if these reforms might produce short-run costs and, hence, cause severe resistance from interest groups.

Suggested Citation

  • Toshihiro Ihori, 2015. "Fiscal Consolidation in the Political Economy of Japan," Advances in Japanese Business and Economics, in: Toshihiro Ihori & Kimiko Terai (ed.), The Political Economy of Fiscal Consolidation in Japan, edition 127, chapter 0, pages 3-33, Springer.
    • Handle: RePEc:spr:advchp:978-4-431-55127-0_1
    DOI: 10.1007/978-4-431-55127-0_1
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    Cited by:

    1. Kimiko Terai & Amihai Glazer, 2018. "Rivalry among agents seeking large budgets," Journal of Theoretical Politics, , vol. 30(4), pages 388-409, October.
    2. Miyazaki, Takeshi, 2020. "Intergovernmental fiscal transfers and tax efforts: Regression-discontinuity analysis for Japanese local governments," Regional Science and Urban Economics, Elsevier, vol. 84(C).
    3. Miyazaki, Takeshi, 2016. "Intergovernmental Fiscal Transfers and Tax Efforts: Evidence from Japan," MPRA Paper 74337, University Library of Munich, Germany.

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