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This paper deals with the issue of Japan's public debt, particularly from a governance perspective. Japan's public debt continues to follow a rising path mainly due to the fact that, in the harsh economic climate the country has experienced since the 1990s, the government has ended up increasing public sector spending in order to support the Japanese economy. Yet when the authors look back over these events, this is not the only problem; there are also concerns over whether the system has the rules and institutions necessary to deal with such a situation. Even if temporary measures are taken to alleviate a particular burden, there is no guarantee that financial discipline can be maintained in the long term if there are weaknesses in the system of governance.
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