The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Japan's conservative Liberal Democratic Party's (LDP) leader and next Prime Minister Shinzo Abe speaks to the media at the Parliament in Tokyo December 18, 2012.
Japan's conservative Liberal Democratic Party's (LDP) leader and next Prime Minister Shinzo Abe speaks to the media at the Parliament in Tokyo December 18, 2012.
(Toru Hanai/REUTERS)

For Japan, turns out Abenomics is not the golden ticket

After a flying start and some impressive gains in the early going, Abenomics, the Japanese government’s embrace of bold monetary and fiscal policies to revive the country’s flagging economic fortunes and eradicate crippling deflation, will soon be running into serious headwinds. And when that happens, economists who view the Keynesian-style intervention as a model for other struggling economies will have to look elsewhere for inspiration.