Abenomics and Japanese State Transformation

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Ekasit Nunbhakdi


“Abenomics,” the Abe administration’s economic policy announced in 2013, aims to revive Japan’s long stagnant economy. The policy consists of three “policy arrows” targeted at monetary policy reform, fiscal policy reform, and economic structural reform focused on deregulation. Scholars and policy makers have assessed the policy after implementation for sometime, and a number of assessments have focused on the success or failure of the policy impacts on economic stimulation, while the impacts went beyond economic growth. This article proposes that Abenomics has played apart in Japanese state transformation from a nation-state to a “market-state.” Its (Abenomics) overall impact is that the economic policies seem to prioritize the allocation of resources to the business sector rather than to labor.


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