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Part 1: Fiscal and Monetary Policies in the Reconstruction Years(PDF:49KB)
Chapter 1: Fiscal and Monetary Policies in an Environment of Postwar Inflation(PDF:234KB) 1. Political and Economic Conditions During the Period of Postwar Inflation 2. Fiscal Policies During the Period of Postwar Inflation 1) Budgeting During the Postwar Inflation Years 2) The Termination-of-the-war Expenses 3) Price Policies 4) Tax Reforms, War Indemnity Special Measures Tax and Assets Tax Law 5) Government Bond Issues During the Reconstruction Years 3. Monetary Policy During the Period of Postwar Inflation 1) Emergency Monetary Measures 2) Reconstruction and Reorganization of Companies and Financial Institutions 3) Priority Finance 4) The Reconstruction Finance Bank 4. The Handling of Postwar Economic Issues 1) Japanese Reparations Payments 2) The Dissolution of the Zaibatsu, Elimination of Economic Concentration and Land Reform Chapter 2: Fiscal and Monetary Policies as the Economy Stabilized(PDF:153KB) 1. Political and Economic Conditions 2. Dodge Plan Fiscal Policies 1) Budgetary Policies 2) U.S. Counterpart Fund Special Account 3) The Deposit Bureau and Trust Fund Bureau 4) Foreign Exchange and the Fixed ￥360 Rate 3. The Shoup Mission 1) The Recommendations 2) The Shoup reforms 4. The Monetary Policies of the Dodge Plan 1) Money Supply 2) The Securities Markets Chapter 3: Fiscal and Monetary Policies After the Peace Treaty(PDF:122KB) 1. Political and Economic Conditions After the Peace Treaty 2. Fiscal Policy After the Peace Treaty 1) Budgeting After the Peace Treaty 2) Revising the Shoup Tax System 3) Establishment of the Fiscal Investment and Loan Program (FILP) 4) Allocations of Tax Revenues to Local Governments 3. The Financial System, Monetary Policy and External Finance after the Peace Treaty 1) Specialized Financial System 2) Money Supply Policies of the Bank of Japan 3) Foreign Financial Relations Part 2:Fiscal and Monetary Policies in the High-growth Period(PDF:51KB)
Chapter 4: 1955-1959: Fiscal and Monetary Policies for Independence and Expansion(PDF:191KB) 1. Background and Economic Policies 2. Sound Fiscal and Monetary Policies 1) Fiscal and Monetary Policies Under the Five-Year Economic Independence Plan and New Long-term Economic Plan 2) The One Trillion Yen Budget and the“￥100 Billion in New Spending/￥100 Billion in Tax cuts” Budget 3) Cooperation Between the General Account and the FILP on Public Works and Housing Construction 4) Growth-promoting Taxation 3. The Development of Activist Monetary Policy 1) Monetary Policy under the Five-Year Economic Independence Plan and New Long-term Economic Plan 2) Low-interest Rate Policy 3) Industrial Funding Allocation Policies 4) Marshalling Savings in the Cause of Growth 4. Rejoining the International Economy 1) Membership in the GATT 2) Capital Imports 3) Balance of Payment Trends and the Currency Crisis of 1957 Chapter 5: 1960-1964: Fiscal and Monetary Policy under the "Income-Doubling Plan"(PDF:176KB) 1. Background and Economic Policies 2. Shift of the Policy Focus to Public Investment 1) The Income-Doubling Plan and Fiscal Policy 2) The Role of the FILP in Raising Public Works Spending 3) Universal Pension and Health Insurance 4) Establishment of Direct Tax-based Revenues 3. Continuing Activist Monetary Policy 1) Monetary Policy under the Income-Doubling Plan 2) The “Overloan” Problem and the “New Methods of Monetary Control” 3) High Growth and the Securities Markets 4. Trade and Exchange-rate Liberalization 1) The Decision to Liberalize and the Liberalization of Exchange Rates 2) Trade Liberalization 3) IMF Article 8 Status and the Abolition of the Foreign Exchange Budget 4) Balance of Payments Trends and the Currency Crises of 1961 and 1963-64 1. Background and Economic Policies 2. Fiscal Policy for the “Welfare State” 1) “Welfare state” Policies and the Issue of Fiscal “Rigidity” 2) Bond Issues on the General Account and their Impact on Fiscal Policy 3) Public Works Spending and the Introduction of the “Beneficiaries Pay” Principle 4) Greater Welfare with a Greater Tax Burden 3. Monetary Policy during Internationalization 1) Internationalization and Monetary Policy 2) Government Bond Issues and Monetary Policy 3) The “Securities Panic” and the Securities Markets 4. The Currency Crisis and the Floating of the Yen 1) OECD Membership and the Liberalization of Capital 2) Development as a Capital Exporter and the Beginning of Economic Cooperation 3) Balance of Payments Trends and the 1967 Crisis 4) The International Currency Crisis and “Nixon Shock”
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