Governments confront difficult political choices when they must determine how to balance their spending. But what would happen if a government found a means of spending without taxation? In this book, Gene Park demonstrates how the Japanese government established and mobilized an enormous off-budget spending system, the Fiscal Investment Loan Program (FILP), which drew on postal savings, public pensions, and other funds to pay for its priorities and reduce demands on the budget.Park's book argues that this system underwrote a distinctive postwar political bargain, one that eschewe
Contents; Figures and Tables; Acknowledgments; 1. Introduction; 2. Understanding the FILP System; Part I: FILP and the Postwar Settlement; 3. The Common Origins of Budget Restraint and FILP, 1945-1953; 4. Balancing Fiscal Policy, Industrialization, and Distributive Politics, 1953-1970; 5. The Electoral Logic of FILP Allocations, 1960-1993; Part II: The Limits of FILP; 6. Pushing the Limits of the FILP Compromise, 1970-1990; 7. The Politics of FILP Reform, 1990-2001; 8. The Koizumi Reforms and the Legacy of FILP, 2001 and After; 9. Conclusion; Notes; Bibliography; Index
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