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The Japanese economy and future growth prospects

Author

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  • Sian Fenner

    (Treasury, Government of Australia)

Abstract

This paper examines Japanese growth prospects through a 3P framework - population, participation and productivity - and illustrates the importance of productivity growth in offsetting the effects of declining population and aggregate labour force participation. Without further structural reforms, particularly in the labour market and non-tradeable sectors, labour productivity growth will remain subdued and Japanese potential GDP growth constrained.

Suggested Citation

  • Sian Fenner, 2004. "The Japanese economy and future growth prospects," Economic Roundup, The Treasury, Australian Government, issue 1, pages 61-78, April.
    • Handle: RePEc:tsy:journl:journl_tsy_er_2004_1_3
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    File URL: http://archive.treasury.gov.au/documents/817/PDF/roundup_autumn_2004.pdf
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    More about this item

    Keywords

    economic development; economic reforms; Japan; labour market; productivity;
    All these keywords.

    JEL classification:

    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • O53 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East

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