Research On Japan's Fiscal Imbalance In The New Century

Japan is the third largest economy in the world today.Since the 1990s,Japan has experienced major events such as the collapse of the bubble economy,the Asian financial crisis in 1997,the global financial crisis in 2008,and the 2011 earthquake.The Japanese economy has fallen into recession and is Japan.Lost twenty years.Since the 21st century,the issue of fiscal deficits has gradually become an economic problem that important economies in the world cannot ignore.Japan's public finances are in crisis and it is increasingly important to study Japan' s fiscal imbalances.The aging of the population has brought upward pressure on expenditures and it has become one of the biggest challenges for Japan' s economy.The deficit has increased and debt has inflated,leading to excessive debt.Japan needs to reorganize its fiscal order in order to restore fiscal health.Through studying the status quo and causes of Japan's fiscal imbalance in the new century,we will find effective ways to improve Japan' s fiscal imbalance.The idea of improving Japan's fiscal imbalance is to increase revenues and reduce expenditures,and fundamentally measures need to be taken to promote steady economic growth.To improve the fiscal imbalance in Japan,we need to start with four effective ways:fiscal structure reform,social security reform,taxation reform,and coordination between monetary policy and fiscal policy.The reform of fiscal structure should optimize the structure of expenditures and ensure the need for major expenditures.Reducing the expenditure pressure brought about by aging and carrying out social security reforms.Under the pressure of a substantial increase in social security costs,it is appropriate to issue government bonds in a modest manner to avoid excessive expenditure on government bonds.The tax reduction measures of the tax reform are conducive to the economic prosperity and increase the tax source.The modest increase of the consumption tax can increase the fiscal revenue and set a higher tax file on income tax.Fiscal policy must be coordinated with monetary policy to ensure the operating space of fiscal policy and monetary policy.Fiscal policy is expanding moderately,stabilizing prices,moderate inflation,raising household consumption levels and expanding demand.Monetary policy is moderately loose,it is not possible to maintain low interest rates for a long period of time, guide the depreciation of the yen exchange rate,and promote exports.This article studies the basic situation of Japan's fiscal imbalance,causes of imbalances,economic impact,ways of improvement,and inspiration to China.The structure of this paper is organized into six chapters:The first chapter is the introduction part,which explains the background of the topic,the purpose and significance of the research,literature review at home and abroad,the research methods and innovations and deficiencies.The second chapter is the financial related theory part,which explains the related concepts of finance,the fiscal theories of each school,and the tax reform theory.The third chapter analyzes the status quo of Japan's fiscal imbalance,starts with Japan's financial revenue and expenditure,and does some analysis of the indicators.The growth of fiscal revenue can only rely on the increase of consumption tax.In terms of fiscal expenditure,the cost of government bonds and social security are the two largest spending items.The fourth chapter analyzes the causes of Japan's fiscal imbalances.It analyzes the issues left over from the last century,the effects of the change of regimes and frequent fiscal policies,the cost of population aging,the increase in social security costs,the economic downturn and tax changes,and external environmental factors.Chapter 5 analyzes the impact of Japan' s fiscal imbalance on Japan' s economy,pushes up prices to curb consumer spending,maintains low interest rates,and affects exchange rates and foreign trade.The sixth chapter focuses on the effective ways to improve Japan's fiscal imbalance and its implications for China.Finally,The last part is the conclusion.