20世纪90年代美日财政政策实证与比较分析

2 0世纪 90年代对于美国和日本来说是十分不同的。从财政政策角度讲 ,美国由于成功地实施了刺激经济增长和削减财政赤字的财政政策而使 2 0世纪 90年代成为“得到的十年” ;而日本由于政府对经济形势判断的失误和由此导致的财政政策失误等原因使 2 0世纪 90年代成为“失去的十年”。这一事实表明 ,正确地判断经济形势、健全的财政和完善的市场机制作用的充分发挥 ,是财政政策发挥作用的重要前提。

Empirical and comparative analysis of American and Japanese fiscal policy in the 1990s

The 1990s has observed different results of economical development in America and Japan. For America, 1990s is "the gained 10 years" because a successful fiscal policy was carried out in the period which stimulated the economic growth and reduced the huge financial deficit. But for Japan this period is "the lost 10 years" because the government mis-judged the economic condition and did not produce a favorable fiscal policy. This fact indicates that for fiscal policy to function well, it is important to make exact and proper judgement of the economic condition and set up a perfect finance and market mechanism.