著者

大塚 勲

出版者

熊本大学

雑誌

熊本大学社会文化研究 (ISSN:1348530X)

巻号頁・発行日

vol.15, pp.51-70, 2017-03-25

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This paper presents that expansion of government bonds in the late 1970s was caused bya control of the former Prime Minister Kakuei Tanaka. The government budgeted 2 trillionyen for revenue generated by the government bonds in the 1975 fiscal year and 15.3 trillionyen in the 1979 fiscal year. They expanded to 7.65 times in only four years. The budgets wereformulated according to an economic plan developed in 1976. Although the plan controlled thebudget inflation, the government depended on the government bonds because of shortage of taxrevenue. As a result, the government bonds expanded rapidly but the plan was realized. Theeconomic plan was formulated in the Takeo Miki Cabinet, not in the Tanaka Cabinet. However,the plan was in accordance with part of a 10 year economic plan which was examined but notdeveloped by Tanaka cabinet. Mr. Tanaka controlled the budgets in order to realize the planin the Tanaka Cabinet. As a result, government bonds were the inflated in the late 1970s. Thepaper therefore concludes that we should call them Tanaka government bonds policy.