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To achieve greater gender equality in employment and more inclusive growth, Japan needs to change the workplace culture and ensure that the tax and social security systems do not reduce work incentives for second earners in households.
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The Japanese economy has for many years been characterised by a low corporate return on equity. Increasing returns requires better corporate governance that improves investment and the use of corporate resources, including cash holdings.
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Japan has the potential to grow its agricultural sector, including by producing high-value products that reflect the country’s growing reputation for sophisticated, healthy, and high-quality food. To assure the long-term health of Japan’s food and agriculture system, it is critical to increase its capacity to respond to market demands.
The rise in Internet usage among young people has seen a corresponding increase in international concern regarding their online safety. In line with the Recommendation on the Protection of Children Online, the Japanese government has initiated efforts to develop improved indicators to measure Internet literacy among youth.
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This country note provides information on latest trends in income inequalities as well as key findings from the 2015 OECD report "In it Together: Why less inequality benefits all".
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Levels of alcohol consumption in Japan are slightly below the OECD average and have slightly decreased in the last 20 years. In 2012, an average of 7.2 litres of pure alcohol per capita was consumed in Japan, compared with an estimate of 9.1 litres in the OECD.
Mr. Gurría presented the 2015 OECD Economic Survey of Japan, held several meetings including with the Prime Minister, took part in the launch event for the Education 2030 project and delivered a keynote speech at the International Symposium on Corporate Governance and Japan’s Growth Strategy.
I am honoured to address you today on new growth strategies for developed economies as part of this symposium. Corporate governance is not just a question of ethics, of management or even of profitability – it’s much more important than that. Fundamentally, good corporate governance is critical to unlock investment, growth and jobs in Japan and other advanced economies.
After several false starts, recovery from the global financial crisis seems to be finally, if tentatively, taking hold. Helped by the fall in oil prices, the outlook has brightened in recent months. While there is still a long distance to travel, the Japanese economy is responding to bold, coordinated policy action. The three arrows of Abenomics are starting to bear fruit.
It is a great pleasure to be back in Tokyo to present the OECD’s 2015 Economic Survey of Japan. When I launched the last survey two years ago, the three arrows of Abenomics – bold monetary policy, flexible fiscal policy and a reform-driven growth strategy – were still in their infancy.