Reforming of the North-Eastern Asian Economies: Abenomics as a New National and Integration Project

Abstract

The article discusses the variant of macroeconomic reforms initiated by the Prime Minister Abe, implemented in Japan in 2013. The domestic economic and integration consequences of the "Abenomics" are considered in the article. We evaluate the outcomes and the possible transformation of the economic system of the country and its impact on the situation in the Asia-Pacific region. Thus, we can assume that some success thanks to Abenomics the Abe government has been achieved, but this is just the first step for the country's economy way out of stagnation and achieve the ambitious goal to return Japan to the forefront in the global economy. Interception of regional leadership in the Asia-Pacific region has not yet succeeded. It is obvious that in the new version of “flying geese" Japan has little chance of becoming a leader.