International Journal For Multidisciplinary Research

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A Widely Indexed Open Access Peer Reviewed Multidisciplinary Bi-monthly Scholarly International Journal

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The Influence of the Abenomics Program’s Monetary Policy on the Revival of the Japanese Economy: Japanification Economic Phenomenon as a Case in Point

Author(s) Mayuka Tulla
Country India
Abstract Japan had entered a deflationary state during the ‘lost decade’. The Bank of Japan set a 2 percent inflation target and specified concrete actions to achieve this goal by 2015(HAUSMAN and WIELAND). The measures in Abenomics included an aggressive monetary policy, fiscal stimulus and structural reforms. The conception of" Japanification" surfaced from the challenges faced by the slow- growing Japanese economy due to its deflation. To combat this economic recession, Prime Minister Shinzo Abe presented a comprehensive set of economic programs known as Abenomics(“The Japanification of the World?”).

Also, it considers the challenges faced by financial policy, particularly in the environment of the COVID- 19 epidemic and its impact on the labour market. The review synthesises and analyses a range of scholarly articles, reports, and government publications to give a comprehensive overview of the content(Tsigaris et al.).
Keywords Economics, Abenomics, Japan, Monetary policy, Fiscal Policy, Inflation, Deflation, Recession.
Field Sociology > Economics
Published In Volume 6, Issue 1, January-February 2024
Published On 2024-01-11
Cite This The Influence of the Abenomics Program’s Monetary Policy on the Revival of the Japanese Economy: Japanification Economic Phenomenon as a Case in Point - Mayuka Tulla - IJFMR Volume 6, Issue 1, January-February 2024. DOI 10.36948/ijfmr.2024.v06i01.11731
DOI https://doi.org/10.36948/ijfmr.2024.v06i01.11731
Short DOI https://doi.org/gtdr6f

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