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After two decades of low growth and persistent deflation, Japan is showing signs of renewed economic dynamism. But to regain its primacy as a leading economic powerhouse and raise the well-being of its citizens, Japan needs a structural reform package to narrow the productivity gap with leading OECD countries, notably by increasing the labour participation of women and older citizens.
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Analysis for Japan from OECD trade facilitation indicators that identify areas where countries can improve border procedures, reduce trade costs, boost trade flows and reap greater benefits from international trade.
Nuclear energy provides society with a secure supply of low-carbon, baseload electricity that enables our economies to function. But of course, safety must be the first priority, without exception. Following Fukushima, international efforts have focused on enhancing nuclear safety to enable our economies to continue enjoying the electricity that nuclear power can provide, said OECD Secretary-General in Japan.
This learning experience is an important model for other countries recovering from natural disasters as well. It demonstrates how they can best invest in their most precious resource – their young people!
Japan joined the OECD in 1964, the same year it hosted the summer Olympic Games in Tokyo. OECD membership signalled Japan’s successful transition into a fully industrialised economy, Foreign Minister Fumio Kishida writes on the 50th anniversary of his country’s accession.
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Note summarising the performance of 15-year-olds in Japan in the PISA 2012 assessment of problem solving.
Reconciling work and family commitments is a challenge in every country, but particularly for Japanese men and women. Much more so than in most other OECD countries, men and women have to choose between babies and bosses: men choose bosses, women less so, but on the whole there are very few babies and there is too little female employment. These shortcomings are increasingly coming to the fore and will have to be addressed.
The productivity level in services relative to manufacturing is particularly low in Japan, dragging down economy-wide labour productivity, which is significantly below the average of the upper-half of OECD countries.
The Japanese economy is recovering after having suffered severe shocks from the 2008 financial and economic crisis and the 2011 Great East Japan Earthquake.