THE ECONOMIC CRISIS AS A PREREQUISITE FOR REGIONAL SHIFTS IN THE ECONOMY OF JAPAN

Makarenko P.

National Academy of Sciences of Ukraine, Kyiv, Ukraine

Abstract:

 

In article analyzed the signs and consequences of the economic crisis in Japan, revealed a system of anti-crisis government measures to stimulate economic growth, the stock market and real estate market, public policy and social programs. Successful anti-crisis measures and the negative effects of regulatory policy in the fall of domestic and foreign markets were considered.

We were analyzed three major economic crises: the post-war crisis, the crisis of the 90s, the 2008 financial crisis. The economic crisis of the early 90s had a very specific background; analysis and reflection of them are allowed to reduce the crisis of 2008. The first crisis was caused mainly by internal economic factors, and the second – the global financial crisis.

Pre-crisis economic had certain market conditions. During export economy Japan generated industrial growth, increase a foreign production, results of direct investment. Japanese companies had pursued a policy of active promotion in Asian markets.

Over the years 2002-2007 decline the consumer demand, and in 2008 there were the first signs of recession. Textile and chemical industry, general engineering, ferrous metallurgy, information and communication electronic equipment had reduced production and profits. After analyzing the current situation in the world markets, the Japanese government approved the “Complex strategic measures to overcome the crisis.” The government executed the following major steps:

1. Increase local and regional regulation;
2. Reduction of taxes;
3. Exchange and stock markets regulation;
4. Reduce military spending;
5. The increase in exports, business building in regional market centers;
6. Promote small and medium enterprises (SMEs);
7. Formation of innovative markets;
8. Development of logistics infrastructure;
9. Reduce energy dependence, changing sources of energy;
10. The reform of social policy;
11. The reform of regional policy and investment;
12. The development of tourism projects.

The experience of Japan can be adapted a series of reforms: decentralization, solving demographic problems, increasing regional and international business, scientific and technological development, investment in infrastructure and trade logistics, tourism development. Successfully reforms and strategic location was allowed Japan to survive the economic crisis and achieve economic growth.

Keywords:

economic crisis, anti-crisis measures, regional policy, regional partnership

Language:

ukrainian

DOI: http://doi.org/10.17721/1728-2721.2017.66.21

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Suggested citation:

Makarenko P. (2017) The economic crisis as a prerequisite for regional shifts in the economy of Japan. Visnyk Kyivskogo natsionalnogo universytetu, Geografiya [Bulletin of Taras Shevchenko National University of Kyiv, Geography], 1-2 (66-67), 127-133 (in Ukrainian, abstr. in English).