The features of quantitative and qualitative monetary easing (QQE) and the transmission mechanism  First of all, I would like to point out that Japan has suffered from a long-standing negative output gap and mild deflation over nearly the entire period since the second half of the 1990s.
This is too low to support higher growth rates that will reduce unemployment and emigration. Improvements in regulatory quality, fair and transparent ‘rules of the game’, and transparent and accountable institutions will help attract higher levels of foreign investment.