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Productivity Dynamics Among Japanese Small and Medium-Sized Enterprises: Empirical Analysis Based on the Credit Risk-Database Productivity

Author

Listed:
  • Ikeuchi, Kenta
  • Kim, Young Gak
  • Kwon, Hyeog Ug
  • Fukao, Kyoji

Abstract

Japanʼs economy is characterized by a dual structure ; overall small and medium-sized enterprises （SMEs）account for a relatively large share of the total economic output, and there is a substantial size difference between such SMEs and large firms. However, due to data limitations, few studies have focused on productivity dynamics of SMEs. Particularly, with regard to the non-manufacturing sector, such research is extremely limited. Against this background, this study examines the productivity dynamics of SMEs, including those in the non-manufacturing sector, using an extensive firm-level panel dataset constructed from the Credit Risk Database. The findings indicate that the productivity dynamics of SMEs differ considerably from those of large firms. In contract to large firms, the reallocation effect-rather than the within effect-is the main driver of productivity dynamics among SMEs, meaning that the market mechanism seems to be working properly in the case of SMEs.

Suggested Citation

  • Ikeuchi, Kenta & Kim, Young Gak & Kwon, Hyeog Ug & Fukao, Kyoji, 2018. "Productivity Dynamics Among Japanese Small and Medium-Sized Enterprises: Empirical Analysis Based on the Credit Risk-Database Productivity," Economic Review, Hitotsubashi University, vol. 69(4), pages 363-377, October.
    • Handle: RePEc:hit:ecorev:v:69:y:2018:i:4:p:363-377
    DOI: 10.15057/29643
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    Cited by:

    1. Kenta Ikeuchi & YoungGak Kim & Hyeog Ug Kwon & Kyoji Fukao, 2022. "Productivity dynamics in Japan and the negative exit effect," Contemporary Economic Policy, Western Economic Association International, vol. 40(1), pages 204-217, January.

    More about this item

    JEL classification:

    • O12 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Microeconomic Analyses of Economic Development
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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