Takeo Hoshi on Fiscal Policies to Spur Growth in Japan
A Plan to Revive Japan
09/10/2012
Takeo Hoshi and Anil Kashyap,
Wall Street Journal
Japan's leaders want to break out of the malaise of the last 20 years, but they're held back because they often don't understand what went wrong. The National Institute of Research Advancement commissioned us to diagnose the historical problems, which we did in a report released last year, and then come up with future solutions. Our second report called "Policy Options for Japan's Revival" was published in June and offers a plan to confront the malaise.
This plan is organized around three broad themes: regulatory reform at home, opening up the Japanese economy, and improving macroeconomic policies.
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Takeo Hoshi is the Pacific Economic Cooperation Professor in international economic relations at IR/PS, and a research associate at the National Bureau of Economic Research (NBER) and at the Tokyo Center for Economic Research (TCER). His major research area is the study of the financial aspects of the Japanese economy, especially corporate finance and governance.
