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Categoría del artículo: Conceptual Paper
Publicado en línea: 30 sept 2019
Páginas: 201 - 211
Recibido: 12 may 2019
Aceptado: 12 jul 2019
DOI: https://doi.org/10.2478/ijme-2019-0018
Palabras clave
© 2019 Jerzy Grabowiecki, published by Sciendo
This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.
Figure 1
![Trends in the real GDP growth rate in Japan (%).Source:Fukao et al. [2015, p. 15].](https://sciendo-parsed.s3.eu-central-1.amazonaws.com/6471f948215d2f6c89db738c/j_ijme-2019-0018_fig_001.jpg?X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Content-Sha256=UNSIGNED-PAYLOAD&X-Amz-Credential=AKIA6AP2G7AKOUXAVR44%2F20250930%2Feu-central-1%2Fs3%2Faws4_request&X-Amz-Date=20250930T110326Z&X-Amz-Expires=3600&X-Amz-Signature=fbab0934846ebb182ff031246803cc78b60719dc0e7d0a34dddc732acb0599b5&X-Amz-SignedHeaders=host&x-amz-checksum-mode=ENABLED&x-id=GetObject)
Figure 2
![The ratio of the elderly population in major countries (%).Note: The elderly population (aged 65 or over) divided by the productive population (age 15–64).Source: [UN, DESA].](https://sciendo-parsed.s3.eu-central-1.amazonaws.com/6471f948215d2f6c89db738c/j_ijme-2019-0018_fig_002.jpg?X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Content-Sha256=UNSIGNED-PAYLOAD&X-Amz-Credential=AKIA6AP2G7AKOUXAVR44%2F20250930%2Feu-central-1%2Fs3%2Faws4_request&X-Amz-Date=20250930T110326Z&X-Amz-Expires=3600&X-Amz-Signature=8a48b6eaf197fcbc3ff128ffb22ca348c38ee7d015f2ae52d6c273bd660e352c&X-Amz-SignedHeaders=host&x-amz-checksum-mode=ENABLED&x-id=GetObject)
Figure 3
![“Three-Arrows Strategy.”Source: MUFG [2018, p. 5].](https://sciendo-parsed.s3.eu-central-1.amazonaws.com/6471f948215d2f6c89db738c/j_ijme-2019-0018_fig_003.jpg?X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Content-Sha256=UNSIGNED-PAYLOAD&X-Amz-Credential=AKIA6AP2G7AKOUXAVR44%2F20250930%2Feu-central-1%2Fs3%2Faws4_request&X-Amz-Date=20250930T110326Z&X-Amz-Expires=3600&X-Amz-Signature=178bc9fa73c2f79114110edc7d41d1ab9f5a50ac384a81d1686f0ec444b71d72&X-Amz-SignedHeaders=host&x-amz-checksum-mode=ENABLED&x-id=GetObject)
Figure 4
![QQE system in Japan.Source: MUFG [2018, p. 7].](https://sciendo-parsed.s3.eu-central-1.amazonaws.com/6471f948215d2f6c89db738c/j_ijme-2019-0018_fig_004.jpg?X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Content-Sha256=UNSIGNED-PAYLOAD&X-Amz-Credential=AKIA6AP2G7AKOUXAVR44%2F20250930%2Feu-central-1%2Fs3%2Faws4_request&X-Amz-Date=20250930T110326Z&X-Amz-Expires=3600&X-Amz-Signature=a48783692ed71688dbdeeea0287a079cd120b76b6c55c62ab75f22b2ff06e8ee&X-Amz-SignedHeaders=host&x-amz-checksum-mode=ENABLED&x-id=GetObject)
Figure 5
![Tankan index for industrial companies.Source: Own elaboration on the basis of [Bank of Japan].](https://sciendo-parsed.s3.eu-central-1.amazonaws.com/6471f948215d2f6c89db738c/j_ijme-2019-0018_fig_005.jpg?X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Content-Sha256=UNSIGNED-PAYLOAD&X-Amz-Credential=AKIA6AP2G7AKOUXAVR44%2F20250930%2Feu-central-1%2Fs3%2Faws4_request&X-Amz-Date=20250930T110326Z&X-Amz-Expires=3600&X-Amz-Signature=52491f6468ffb6789d8d7722a9ee432073532927b7071e7d842d52e12cfcc7de&X-Amz-SignedHeaders=host&x-amz-checksum-mode=ENABLED&x-id=GetObject)
Figure 6
![Tankan index for non-industrial companies.Source: Own elaboration on the basis of [Bank of Japan].](https://sciendo-parsed.s3.eu-central-1.amazonaws.com/6471f948215d2f6c89db738c/j_ijme-2019-0018_fig_006.jpg?X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Content-Sha256=UNSIGNED-PAYLOAD&X-Amz-Credential=AKIA6AP2G7AKOUXAVR44%2F20250930%2Feu-central-1%2Fs3%2Faws4_request&X-Amz-Date=20250930T110326Z&X-Amz-Expires=3600&X-Amz-Signature=db52c7d0a0935c0a474a0172fa06e0a88f26fc867f0a6367baeb2b369cb2b249&X-Amz-SignedHeaders=host&x-amz-checksum-mode=ENABLED&x-id=GetObject)
Figure 7
![General government gross debt by country (% of nominal GDP).Source: IMF [2018a].](https://sciendo-parsed.s3.eu-central-1.amazonaws.com/6471f948215d2f6c89db738c/j_ijme-2019-0018_fig_007.jpg?X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Content-Sha256=UNSIGNED-PAYLOAD&X-Amz-Credential=AKIA6AP2G7AKOUXAVR44%2F20250930%2Feu-central-1%2Fs3%2Faws4_request&X-Amz-Date=20250930T110326Z&X-Amz-Expires=3600&X-Amz-Signature=2309c3d040717e3e3de8eb0051829bd3734e58b556d44ffb5c09fce94ffedf8f&X-Amz-SignedHeaders=host&x-amz-checksum-mode=ENABLED&x-id=GetObject)
Figure 8
![Projected effects of trade liberalization on real GDP (%).Note: FTAAP denotes free trade area of the Asia-Pacific.Source:MUFG [2018, p. 32].](https://sciendo-parsed.s3.eu-central-1.amazonaws.com/6471f948215d2f6c89db738c/j_ijme-2019-0018_fig_008.jpg?X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Content-Sha256=UNSIGNED-PAYLOAD&X-Amz-Credential=AKIA6AP2G7AKOUXAVR44%2F20250930%2Feu-central-1%2Fs3%2Faws4_request&X-Amz-Date=20250930T110326Z&X-Amz-Expires=3600&X-Amz-Signature=02d707f4f7cc453d78ceab60783327dc86ab8fa672bfb27671be4f2abf74aa31&X-Amz-SignedHeaders=host&x-amz-checksum-mode=ENABLED&x-id=GetObject)
Japan: selected indicators, 2012–2017
2012 | 1.5 | −3.7 | 4.1 | −0.1 | 4.3 |
2013 | 2.0 | −2.2 | 3.7 | 0.3 | 4.0 |
2014 | 0.4 | −2.6 | 5.4 | 2.8 | 3.6 |
2015 | 1.4 | −2.0 | 3.4 | 0.8 | 3.4 |
2016 | 1.0 | −1.8 | 0.6 | −0.1 | 3.1 |
2017 | 1.7 | −0.7 | 2.9 | 0.5 | 2.9 |