| Budget Amount *help |
¥4,940,000 (Direct Cost: ¥3,800,000、Indirect Cost: ¥1,140,000)
Fiscal Year 2016: ¥1,560,000 (Direct Cost: ¥1,200,000、Indirect Cost: ¥360,000)
Fiscal Year 2015: ¥1,040,000 (Direct Cost: ¥800,000、Indirect Cost: ¥240,000)
Fiscal Year 2014: ¥1,170,000 (Direct Cost: ¥900,000、Indirect Cost: ¥270,000)
Fiscal Year 2013: ¥1,170,000 (Direct Cost: ¥900,000、Indirect Cost: ¥270,000)
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| Outline of Final Research Achievements |
First, this research project examines the economic controversies during the 1990s Japan, showing that there were serious divisions and clashes of economic policy ideas, especially between the one which attributes the cause of Japan's Great Stagnation to structural factors and the other which attributes the cause to macroeconomic policy failure. Second, compared with other economic crises such as the 1930s Great Depression and the 1970s Great Inflation, Japan's Great Stagnation has a lot of affinities with the 1930s Great Depression: this has been recognized and used as an inspiration for some participants of the controversies. Third, from this research's perspective, Abenomics, the new economic policy initiative under the Second Shinzo Abe administration since December 2012, is to be interpreted as providing a correction to the macroeconomic policy failures of the 1990s. However, the divisions and clashes of economic ideas have still remained today, which would influence the future.
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