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Structural Changes and Economic Growth: Evidence from Japan

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  • Kengo Nutahara

    ()
    (University of Tokyo and JSPS research fellow)

Abstract

In this paper, we introduce an index of structural changes of the economy, and investigate the relationship between economic growth and structural changes in the Japanese economy We find that (i) there is no clear relationship between structural changes and business cycles in the short run however, (ii) the long run movements of structural changes are positively correlated with economic growth. In the short run, our result is consistent with the neoclassical view it is also consistent with the Schumpeterian view of economic growth in the long run.

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File URL: http://www.accessecon.com/pubs/EB/2008/Volume15/EB-08O00005A.pdf
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Bibliographic Info

Article provided by AccessEcon in its journal Economics Bulletin.

Volume (Year): 15 (2008)
Issue (Month): 9 ()
Pages: 1-11

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Handle: RePEc:ebl:ecbull:eb-08o00005

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  1. Philippe Aghion & Peter Howitt, 1990. "A Model of Growth Through Creative Destruction," NBER Working Papers 3223, National Bureau of Economic Research, Inc.
  2. Aoki, Masanao & Yoshikawa, Hiroshi, 2002. "Demand saturation-creation and economic growth," Journal of Economic Behavior & Organization, Elsevier, vol. 48(2), pages 127-154, June.
  3. Aghion, Philippe & Howitt, Peter, 1992. "A Model of Growth Through Creative Destruction," Scholarly Articles 12490578, Harvard University Department of Economics.
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