기시다노믹스의 ‘새로운 자본주의’ 경제정책에 관한 고찰

Abstract

This paper introduces the core contents and economic policies of the Kishida Cabinet's ‘New Form of Capitalism’ launched in October 2021. In addition, it presented an analysis and outlook on whether Kishidanomics will actually establish a virtuous cycle of growth and distribution and lead to ‘Japanese revival’ from deflation and economic recession. In other words, Kishidanomics is an economic policy that focuses on distribution rather than growth, and in summary, it intends to create a virtuous cycle structure in which individual workers' wage increases are induced to boost consumption and consumption leads to corporate growth again. To this end, three economic policies were proposed: a ‘Startup Development Five-year Plan’, ‘Doubling Asset-Based Incom Plan’ and an ‘Low Fertility and Child Care Policy’. However, while the leading index of the economy is still unstable, negative criticism remains on the effectiveness of Kishidanomics. In other words, a clear governance system has not been established in policy decision-making, fiscal expenditures, an absolute factor in implementing policies, and Prime Minister Kishida's unstable political foundation. Only by solving these problems will be able to positively evaluate the effectiveness of the Kishida government's economic policy.