아베노믹스의 정치경제: 정책적 차별성의 정치적 기원

초록

Abenomics is the signature policy of the second Abe government launched in 2012, creating a series of controversy about the theoretical basis. This study attempts to address the following questions. Why is Abenomics continued without serious interruption despite mounting criticism? What are the similarities and differences of Abenomics, compared to the policies of the LDP and the Democratic Party in the past? What caused the differentiation of Abenomics? This study posits that Abenomics is distinctive from the policies of the past governments in terms of policy consistency and inclusiveness. It demonstrates that such differences stemmed from institutional strengthening of the prime minister’s authority and different style of policy execution. Consisting of three arrows such as monetary policy, fiscal policy, and structural reform, Abenomics has consistently pursued both quantitative and qualitative monetary easing and fiscal policy since 2012 before making transition to structural reform. Furthermore, Abenomics has effectively combined growth strategies and social system reforms in the process of evolving to the second stage. This characteristic of Abenomics seems to be attributed to the fact that Prime Minister Abe secured a variety of institutional means such as the recruitment of key personnel, personnel rights to bureaucrats, and utilization of committee system.

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