Economics

Economics

Tachibanaki, Japan's leading expert on income distribution, draws on new statistical data covering wealth, inheritance, farm and business holdings, salary, and other relevant factors. The Japanese economic is one of the third larges in the world. Until recently the Japanese economy was growing very quickly. Much of this growth was the result of increases in worker productivity. The change to a more service economy also shows changing tastes of Japanese consumers. As a result, Japan imports most of its food from other countries. Japan has spent more money on oil than any other imported product. Japan's agriculture is characterized by small farms, intensive technologies, great use of fertilizers, and the dominance of rice. Yet, the Japanese demand for wood and wood products greatly exceed supply and forest products rank high on the list of imports. Japan's economic successes depended on imported raw materials. Most of Japan's supplies are imported due to the lack of natural resources on the island. [] []

Japan's Trade Policy Bureau is actively executing integrated domestic and external economic policies aiming at maintaining the established world free trade system and to create a business environment in which Japan's economic growth is sustainable and creating high value added. Most goods do not require an import licence and can be imported freely. Japanese import licences are required for certain goods, including hazardous materials, animals, plants, perishables, and in some cases articles of high value. Japan's methods of promoting exports has taken two paths. The first was to develop world-class industries that can initially substitute for imports and then compete in international markets. The second was to provide incentives for firms to export. A tiny agricultural sector is highly subsidized and protected, with crop yields among the highest in the world. Usually self sufficient in rice, Japan imports about 60% of its food on a caloric basis. [] []

The income and wealth distribution in Japan has grown in the past two decades. The movement toward more income inequality in Japan and offers policy recommendations to ercent middle-class society." The causes of Tachibanaki's Japan's increasing income inequality and analyzes the effect on wealth distribution of intergenerational transfer. Tachibanaki argues against the belief of some economists that greater inequality is unavoidable if Japan is to achieve a strong economic recovery. []