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Fiscal Sustainability in Japan

Armstrong, Shiro; Okimoto, Tatsuyoshi

Description

Japanese government debt is at unprecedented levels with a gross debt to gross domestic product ratio of over 230per cent and a net debt to gross domestic product ratio of 150per cent. There are three big challenges to fiscal sustainability: the huge amount of government bonds outstanding; continued budget deficits; and the growing age-related spending. The debt is sustainable as long as the market as a whole believes it is. The path to fiscal consolidation requires increasing the tax rate,...[Show more]

CollectionsANU Research Publications
Date published: 2016
Type: Journal article
URI: http://hdl.handle.net/1885/153715
Source: Asia & The Pacific Policy Studies
DOI: 10.1002/app5.133
Access Rights: Open Access

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