Davos 2023: Global Economic Outlook: Is this the End of an Era?
World Economic Forum
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The Bank of Japan's Accommodative Monetary Policy Has Been Successful in Changing the Japanese Economic Structure
I think in the last nearly 10 years during which I have been governor of the Bank of Japan, we tried to eradicate deflation. And that certainly we have been successful in eradicating deflation. And we tried to recover economic growth because during the deflation period from 1998 through 2012, there was also almost zero growth. After 2013, economic growth has been regained but about 1%. So also, I must say that a huge number of new employment have increased, have been made. That is mainly due to increased labor participation of women. And that was quite successful. All in all, I think the government policy coupled with the Bank ofJapan's extremely accommodative monetary policy has been successful in changing the Japanese
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