Framework of Governance for Metropolitan Areas and Economic Agglomerations

Framework of Governance for Metropolitan Areas and Economic Agglomerations

Possessing the nation’s largest economic engine, best assets, and living services, Tokyo Metropolitan Government (TMG) exercises its huge monetary power to allocate public resources, redistribute economic benefits, and stabilize dynamic markets in a distinctive manner. With the large budget that reached JPY 13.658 trillion for FY 2016, the fiscal structure of TMG may not be comparable to any other local governments in Japan but includes many important implications for the governance of emerging megacities and for financial challenges in other countries.