ECONOMICS
ECONOMIC GROWTH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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growth boosting policies under Shinzo Abe since 2012
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an unconventional monetary policy in which a central bank purchases government securities or other securities from the market in order to increase the money supply and encourage lending and investment
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the means by which a government adjusts its spending levels and tax rates to monitor and influence a nation’s economy.
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None of the above
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Detailed explanation-1: -The economic policies put in place for Japan by Abe when he came to power for the second time in 2012, became popularly known as Abenomics. His economic policies involved increasing the country’s supply of money, making Japan more competitive through widespread reforms, and increasing government spending.
Detailed explanation-2: -His plan was to jumpstart Japan’s economy out of two decades of stagnation using the so-called three “arrows” of Abenomics: Monetary policy: Japan’s hyper-easy monetary policy in the form of negative short term interest rates was put in place to make it cheaper for consumers and companies to borrow money and spend.
Detailed explanation-3: -Since coming to power in late 2012, Prime Minister ABE Shinzo and his government unveiled a comprehensive policy package to revive the Japanese economy from two decades of deflation, all while maintaining fiscal discipline. This program became known as Abenomics.
Detailed explanation-4: -In 2007, he initiated the Quadrilateral Security Dialogue during his first tenure as prime minister, aimed at resisting China’s rise as a superpower. He advocated reforming the Japan Self-Defense Forces (JSDF) by revising Article 9 of the Japanese constitution that outlawed declarations of war.
Detailed explanation-5: -Abenomics refers to the economic policies of a particular politician, in the same way, that Reaganomics or Clintonomics does. Abenomics was promoted as a way to shake Japan’s economy out of a period of minimal growth and overall deflation. Japan’s economic troubles dated back to the 90s, also known as the Lost Decade.