Japan’s rosy short-term outlook masks the failure of Abenomics , Alicia Garcia Herrero & Kohei Iwahara (Elcano Institute)

The Prime Minister of Japan, Shinzō Abe, won a majority in the elections to the Lower House of parliament held on 22 October, supported by a cyclical economic uptrend. However, without meaningful structural reforms to lift productivity, Japan’s long-term outlook remains gloomy. Labour reform, at the heart of necessary productivity-enhancing structural reforms, remains elusive under Abe’s leadership as it would clash with the objectives of his most resilient electorate

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