Japan’s Post-Triple-Disaster Growth Strategy

34 Pages Posted: 23 Aug 2012 Last revised: 30 Aug 2012

Date Written: August 22, 2012

Abstract

The repercussions of the Great East Japan Earthquake on 11 March 2011 spread far beyond the geographical areas directly affected. The disaster also highlighted Japan’s many other structural challenges besides reconstruction needs, including persistently low growth, population aging and low fertility, burgeoning government debt, declining international competitiveness, and uncertain energy supplies. Moreover, the global financial crisis and the ongoing euro area financial crisis suggest that Japan needs to create its own growth momentum without relying excessively on markets in the United States (US) and Europe. This paper discusses the scope of these challenges and sets out a long-term strategy for overcoming them and putting the Japanese economy on a stable growth path.

Keywords: Japanese economy, Japan growth strategy, earthquake, triple disaster, global financial crisis

JEL Classification: F15, F55, F59

Suggested Citation

Kawai, Masahiro and Morgan, Peter J., Japan’s Post-Triple-Disaster Growth Strategy (August 22, 2012). ADBI Working Paper 376, Available at SSRN: https://ssrn.com/abstract=2134585 or http://dx.doi.org/10.2139/ssrn.2134585

Masahiro Kawai (Contact Author)

Asian Development Bank Institute ( email )

Kasumigaseki Building 8F 3-2-5
Kasumigaseki Chiyoda-ku
Tokyo, 100-6008
Japan

Peter J. Morgan

ADBI ( email )

Kasumigaseki Building 8F 3-2-5
Kasumigaseki, Chiyoda-ku
Tokyo, 100-6008
Japan

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