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Japan’s Abe Secures Landslide Election Win
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The LDP Party led by prime minister Abe wins 290 seats in the lower house of parliament in the Dec. 2014 elections. Its ally the Komeito Party gets 34 seats giving the government a two thirds majority in parliament. The LDP previously had 295 seats from the 2012 elections. Of the total 475 seats in parliament, 73 seats went to the opposition DPJ Party and 21 seats to the Communist Party. This gives Abe a 4 year mandate reducing the uncertainty from having a regular change in prime ministers in recent history, making Abe the 17th prime minister in 25 years. The stable government and clear economic policy will help the economy. Abe says he will focus on prodding companies to raise wages, as many people say they have not personally seen any benefit from Abenomics. As a result turnout hit a new low of 52% compared to 59% in 2012 parliamentary elections, with prospective voters showing their dissatisfaction by staying away. Severe winter weather and public confusion about why the snap election was being held may have added to low voter turnout. Other parts of the Abe agenda include restarting some of the 48 nuclear reactors offline since the Fukushima disaster. Abenomics faces hard work ahead as it grapples with two quarters of declining growth in 2014, consumers feeling the effects of the increase in the consumption tax from 5% to 8%, and small businesses feeling the effects of higher cost for imports with the weaker yen.
Japan's snap election in December 2014 on Abenomics and a strategy to fight deflation
11/18/2014
Prime minister Abe overrules the Finance Ministry by delaying an increase in the consumption tax fom 8 to 10% in 2015. He calls a snap election for 2015. This WSJ editorial says Japan has tried the Finance Ministry's ideas for fiscal spending increases coupled with tax increases without success in fighting deflation, prime minister Abe now needs to get the third arrow of structural reform right and take supply side actions.
Grouped Articles
Wall Street Journal 11/18/2014
Calling Early Elections in Japan, Abe Rolls the Dice on the Economy
New York Times 11/18/2014
A Sudden Schism Between Shinzo Abe and the Bank of Japan Governor
New York Times 11/19/2014
Japan’s No. 1 Reflationist Does a Victory Dance
Wall Street Journal 11/20/2014
Nevermind Japan’s Recession Talk. Abenomics Is Working
Wall Street Journal 11/20/2014
With Bad Economic News for Japan, Abe’s Magic Seems to Evaporate
New York Times 11/20/2014
Kozo Yamamoto and the decision by prime minister Abe to delay a second increase in the consumption tax to 2017
11/20/2014
Kozo Yamamoto is Cornell University graduate who joined Japan's Finance Ministry in 1971 and is serving his 6th term in Japan's parliament. He became close to Abe after 2011 and convinced Abe that Japan needed reflationist policies to return to growth. He passed on his study group's advice to delay the second consuption tax increase from 8 to 10% from 2015 to 2017, by which time said Yamamoto Japan will have reached the 2% inflation target.
Grouped Articles
Japan’s No. 1 Reflationist Does a Victory Dance
Wall Street Journal 11/20/2014
With Bad Economic News for Japan, Abe’s Magic Seems to Evaporate
New York Times 11/20/2014
There’s No Recession at Japan Inc.
Wall Street Journal 11/28/2014
Abe Backing Lukewarm, Even in Toyota’s Town
Wall Street Journal 12/11/2014
Japan’s Abe Secures Landslide Election Win
Wall Street Journal 12/16/2014
Japan’s Economy Expands, but Less Than Expected
New York Times 02/15/2015
Shinzo Abe, prime minister 2013- and the economy of Japan
12/19/2012
Grouped Articles
Pro-Inflation Policies Show Signs of Helping the Japanese Economy
New York Times 05/09/2013
Japan Posts Surge in Economic Growth
Wall Street Journal 05/15/2013
Japanâs Economy Growing at 3.5% Annualized Rate
New York Times 05/15/2013
New York Times 05/23/2013
Japanese Economic Data Give Abe a Lift
Wall Street Journal 06/10/2013
In Japan, a Growth Strategy With Echoes of the Past
New York Times 06/12/2013
The Shinzo Abe administration and efforts to come up with an effective growth strategy for Japan
02/11/2013
Grouped Articles
In Japan, a Growth Strategy With Echoes of the Past
New York Times 06/12/2013
In Quest for Japan's Revival, Abe Secures His Own Comeback
Wall Street Journal 07/22/2013
Now Comes the Hard Part for Abenomics
Wall Street Journal 07/22/2013
Japan's Economy Shows Renewed Strength
Wall Street Journal 01/31/2014
Japanese Prime Minister's Support Tops 70%
Wall Street Journal 02/11/2013
Abe Unveils Japan's New Growth Strategy
Wall Street Journal 06/25/2014
Polls showing popularity of the Abe administration in Japan- 2013-2015
02/11/2013
Grouped Articles
Japanese Prime Minister's Support Tops 70%
Wall Street Journal 02/11/2013
Shinzo Abe’s Bid to Shake Up Corporate Japan
New York Times 06/24/2014
Polls Slow Japan’s Plan to Revise Constitution
New York Times 07/09/2014
Japan’s Abe Secures Landslide Election Win
Wall Street Journal 12/16/2014
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