Cover IMF Staff Country Reports
Japan: Spillover Report for the 2011 Article IV Consultation and Selected Issues
Author: International Monetary Fund
Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2011: Issue 183
Language:
English
Publication Date:
19 Jul 2011
DOI:
https://doi.org/10.5089/9781462328451.002
ISBN:
9781462328451
ISSN:
1934-7685
Pages:
69
Keywords:
ISCR; CR; Japan; interest rate; carry trade; exchange rate; financial market; trade surplus; banking system; real GDP; spillover issue; Exports; Fiscal consolidation; Spillovers; Stocks; Yield curve; Global; Asia and Pacific; Europe
Download PDF (9 MB) Download Epub
Japan’s position is one of the largest and richest economies in the world. Tokyo as a financial marketplace is not a major intermediator of global capital flows. The current macroeconomic environment is conducive to spillovers being larger than captured by the empirical analysis. Apart from heading off tail risks, fiscal consolidation in Japan would have medium to long-term benefits for its partner countries. Exchange rate-related spillovers on foreign financial markets are found to be small and depend partly on policy developments abroad.
Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund