“泡沫经济”崩溃以后日本经济陷入严重困境,1992年日本经济增长率由上年的4.3 ％跌至1.1％。1992年中期,因担心经济持续衰退,日本货币当局连续降低利率,增加货币供应,但没有取得明显效果。日本被迫走上扩张性财政的道路。本文拟就九十年代以来日本财政政策的实施状况、效果、得失做一简要剖析。 一、日本扩张性财政政策的实施状况效果。 After the “bubble economy” collapsed, the Japanese economy was in serious trouble. In 1992, Japan’s economic growth rate dropped to 1.1% from 4.3% of the previous year. In mid-1992, due to concerns about continued economic recession, the Japanese monetary authorities continuously lowered their interest rates and increased their money supply. However, they did not achieve any significant results. Japan was forced to embark on the path of expansionary finance. This article intends to make a brief analysis of the implementation status, effectiveness, gains and losses of Japan’s fiscal policy since the 1990s. First, Japan’s expansionary fiscal policy implementation status effect.