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Convergence and Divergence over the Growth Paradigm: The OECD Working Party 2 and the Japanese “Doubling National Income Plan” (1961–70)

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  • Kazuhiko Yago

Abstract

The Japanese growth was driven under continuous plans, of which the most famous was the ?Doubling National Income Plan? (1961?70). This paper tries to reconstruct the visions proposed and debated over the Plan among the Japanese officials and the OECD, especially its Working Party 2. Facing the balance of payments deficit and uneven growth, the above actors proposed more deliberate views on the growth planning. However, the Japanese growth exceeded the initial plan, as has been predicted by an economist, Osamu Shimomura. The ?growth paradigm? in Japan at the beginning of the 1960s had been a balanced one, but sooner or later it encountered the ?transformation period? towards stronger investment with inflation. JEL Codes: B22, E61, N15, O43, P11.

Suggested Citation

  • Kazuhiko Yago, 2020. "Convergence and Divergence over the Growth Paradigm: The OECD Working Party 2 and the Japanese “Doubling National Income Plan” (1961–70)," Revue économique, Presses de Sciences-Po, vol. 71(4), pages 697-713.
    • Handle: RePEc:cai:recosp:reco_pr2_0155
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    Keywords

    OECD; Working Party 2; economic growth; Japan; economic planning; growth paradigm;
    All these keywords.

    JEL classification:

    • B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics
    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
    • N15 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Asia including Middle East
    • O43 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth
    • P11 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Planning, Coordination, and Reform

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