This case is aboutÂ POLICY, RECESSION
PUBLICATION DATE: May 01, 1998
Japan: “Free, Fair, and Global?”Â Case Solution
This event was inApril 1998, when the Prime Minister Hashimoto faced serious difficulties, both with his program of six systemic reforms and with his fiscal policy. Japan had been for six years, unable to retain the miracle-increase attained in earlier decades in successful downturn.
Hashimoto offered to reform fiscal policy, social security, management, regulation, education, and especially the monetary procedure. But institutional rigidities–the bureaucracy, corporate governance, labor policies, and the maturing population among others –has made change exceptionally hard.