In this paper, the basic economic factors underlying government decisions on regional allocation of public investment will be examined in relation to the stages of economic development of Japan. We will show that the improvement of dualism in regional income inequality has been the most significant factor for decisions made since the 1950s, while the growth-oriented economic policy explains the regional allocation of public investment for the period from the late 1950s to the mid-1960s.

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This paper investigates income transfers between dynastic families caused by a public pension system. Using Japanese data, we present simulation results based on a model in which intergenerational altruism works, and income distribution exists between and within generations. The growth rates of income and population, as well as the formulation for the determination of the contribution rate and the payment rate, are crucial to determine both the qualitative and quantitative effects. Especially, under negative income growth over generations, pay-as-you-go public pensions can cause negative income redistribution.