Fiscal stimulus effectiveness in Japan: evidence from recent policies

Miyazaki, Tomomi

doi:10.1080/00036846.2015.1125428

Cited by 7 publications

(3 citation statements)

References 15 publications

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“…Similar results were obtained by Miyazaki, T. when analyzing stimulus programs carried out by the Japanese Government to tackle 2008 crisis [12]. Specifically, the work analyzed the impact of measures focused on environmental benefits.…”

Section: Japansupporting

confidence: 71%

Public Stimulus Plans Rarely Work: The Evidence since the Early 90’s

Lacalle¹,

Asensio²

2021

J Econ Managem Res

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Section: Japansupporting

confidence: 71%

Public Stimulus Plans Rarely Work: The Evidence since the Early 90’s

Lacalle¹,

Asensio²

2021

J Econ Managem Res

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“…2 Alhulail and Takeuchi (2014) estimate the impacts of the eco-friendly vehicle programmes on monthly sales of 10 eco-friendly vehicles. Further, Miyazaki (2016), using vector auto regression analysis, evaluates the economic effects of Japan's environment-related stimulus policies, such as the eco-friendly vehicle programmes and the eco-points programme for electrical household appliances, based on aggregated monthly data of electrical appliances and automobile production. 3 Second, our study relates to the empirical research on the indirect economic effects, known as spillover effects, of the policy.…”

Section: Introductionmentioning

confidence: 99%

Effects of environment-related stimulus policies: An event study approach

Tamechika

2020

Case Studies on Transport Policy

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As part of the environment-related stimulus package implemented in the aftermath of the 2008 global financial crisis, the Japanese government introduced tonnage and acquisition tax breaks as well as a subsidy programme for eco-friendly vehicles. However, there has been limited research on their economic effects. Therefore, this paper employs the event study methodology to examine not only the direct economic effects of the eco-friendly vehicle tax breaks and subsidy programme on automobile firms' performance but also their spillover economic effects on automobile parts firms' performance. Our results show that the eco-friendly vehicle tax breaks had lower positive economic direct effects and no positive spillover effects while the eco-friendly vehicle subsidy programme had more significant positive direct economic effects and positive spillover effects. The differences in economic effects between tax breaks and subsidy programme result from the differences in the implementation duration and from the differences in the preferential monetary benefits. In addition, a mixed policy that combines the eco-friendly vehicle tax breaks and the eco-friendly vehicle subsidy programme is preferable to implementing the former alone.

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“…However, the principal items in these packages were not public investment but subsidies or tax cuts such as lump sum transfers (teigaku-kyuhu kin), subsidies for consumer purchases of energy-conserving home appliances, and a program of tax breaks and subsidies for purchasing "eco-friendly" cars and financial support for small and medium-sized enterprises. For more details, seeIwaisako (2010) andMiyazaki (2016).…”

mentioning

confidence: 99%

Public capital and asset prices: Time-series evidence from Japan

Hiraga

Kozuka

Miyazaki

2018

Finance Research Letters

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This research examines the effects of public infrastructure capital on asset prices in Japan over the periods from 1983:Q1 to 2008:Q4. The empirical results show that while public infrastructure capital forecasts the stock price returns and total factor productivity by Granger's causality test after 1991, the contribution of public investment on stock returns is small by variance decomposition using Factor-Augmented VAR model. Our empirical evidence on the post high-growth era in Japan suggest that although public capital forecasts stock price returns and TFP, public infrastructure investment is not expected to play a key role of revitalizing capital markets.

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Fiscal stimulus effectiveness in Japan: evidence from recent policies

Cited by 7 publications

References 15 publications

Public Stimulus Plans Rarely Work: The Evidence since the Early 90’s

Public Stimulus Plans Rarely Work: The Evidence since the Early 90’s

Effects of environment-related stimulus policies: An event study approach

Public capital and asset prices: Time-series evidence from Japan

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