ABENOMIKA: EKONOMICZNE INSPIRACJE POLITYKI „TRZECH STRZAŁ
ABENOMICS: THE ECONOMIC INSPIRATIONS OF THE "THREE ARROWS POLICY"

Summary/Abstract: Purpose | The aim of this article is to identify the sources of economic inspiration for Abenomics, the comprehensive reform program implemented by Prime Minister Shinzō Abe between 2012 and 2020, aimed at overcoming years of deflation and stagnation in Japan. Research method | In identifying the sources of economic inspiration for Abenomics, we used public statements by Prime Minister Shinzō Abe in national and international forums, as well as statements and interviews with members of his administration and the management of the Bank of Japan (BoJ), available on the official websites of the Prime Minister's Cabinet, the Ministry of Finance, BoJ, the Ministry of Economy, Trade and Industry, the Financial Times Archive. The sources of economic inspiration for Abenomics were supplemented by commentaries and assessments from Japanese and AngloSaxon economists. Results | Abenomics was an element of the historic transformation of Japan's socioeconomic institutions and, at the same time, the most important element of the legacy of Prime Minister Shinzō Abe, the longest-serving Prime Minister in the history of the Japanese parliamentarism. On theoretical grounds, Abenomics was supported by the proponents of reflationary policies, the so-called reflationists. Prime Minister Shinzō Abe and his coworkers, on various occasions, also made historical references to the reflationary policies pursued between 1931 and 1933 by Finance Minister Takahashi Korekiyo. Originality / value / implications / recommendations | Abenomics was innovative compared to the previous attempts to reform the Japanese economy. This stemmed not only from its monetary policy transmission mechanism, but also from its coordination of economic policy instruments across time horizons, ensuring greater coherence and effectiveness.

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