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The economic policies advocated by Japanese Prime Minister Shinzo Abe, associated with monetary and fiscal stimulus and economic reforms.
Abenomics refers to the economic policies advocated by Shinzō Abe since the December 2012 general election, which elected Abe to his second term as Prime Minister of Japan.
Abenomics is based upon “three arrows” of monetary easing, fiscal stimulus and structural reforms.
”The Economist” characterized the program as a “mix of reflation, government spending and a growth strategy designed to jolt the economy out of suspended animation that has gripped it for more than two decades”.
Abenomics is the name given to a suite of measures introduced by Japanese prime minister Shinzo Abe after his December 2012 re-election to the post he last held in 2007. His aim was to revive the sluggish economy with “three arrows”: a massive fiscal stimulus, more aggressive monetary easing from the Bank of Japan, and structural reforms to boost Japan’s competitiveness.
By the end of February, the measures had resulted in a dramatic weakening of the yen and a 22 per cent rise in the Topix stock market index since his election win. Japan’s central bank had also yielded to pressure from Mr Abe’s administration to set an inflation target of 2 per cent.
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This glossary post was last updated: 16th February, 2020 | 5 Views.