Japan’s Political Economy and Koizumi’s Structural Reform: A Rise and Fall of Neoclassical Economic Reform in Japan.

For five years of his premiership, Jun’ichiro Koizumi bravely fought against politicians, bureaucrats, and interest groups to promote his structural economic reform. Fortunately, by the time he retired, Japanese economy got out of the depression. But the tide changed. In the July 2007 Upper House elections, the public was opposed to structural reform that Koizumi and Abe had advocated. Now it is not clear where Japanese political economy is likely to go. This paper will take a long-term view on the evolution of Japan’s political economy, and try to understand Jun’ichiro Koizumi’s structural reform in that long-term context. [ABSTRACT FROM AUTHOR]