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Plant Turnover and TFP Dynamics in Japanese Manufacturing

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  • Kyoji Fukao
  • Young Gak Kim
  • Hyeog Ug Kwon

Abstract

This study analyzes the cause of the slowdown in Japan's TFP growth during the 1990s. Many preceding studies, examining the issue at the macro- or industry-level, have found that the slowdown was primarily due to the stagnation in TFP growth in the manufacturing sector. Using establishment level panel data covering the entire sector, we investigate the causes of the TFP slowdown and find that the reallocation of resources from less efficient to more efficient firms was very slow and limited. This "low metabolism" seems to be an important reason for the slowdown in Japan's TFP growth.

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File URL: http://hi-stat.ier.hit-u.ac.jp/research/discussion/2006/pdf/D06-180.pdf
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Bibliographic Info

Paper provided by Institute of Economic Research, Hitotsubashi University in its series Hi-Stat Discussion Paper Series with number d06-180.

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Date of creation: Aug 2006
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Handle: RePEc:hst:hstdps:d06-180

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Cited by:
  1. Jeong-Dong Lee, 2009. "Industry Dynamics and Productivity Research," TEMEP Discussion Papers 200929, Seoul National University; Technology Management, Economics, and Policy Program (TEMEP), revised Nov 2009.
  2. FUKAO Kyoji & MIYAGAWA Tsutomu & Hak K. PYO & Keun Hee RHEE, 2009. "Estimates of Multifactor Productivity, ICT Contributions and Resource Reallocation Effects in Japan and Korea," Discussion papers 09021, Research Institute of Economy, Trade and Industry (RIETI).
  3. MATSUURA Toshiyuki & MOTOHASHI Kazuyuki & HAYAKAWA Kazunobu, 2008. "How Does FDI in East Asia Affect Performance at Home?: Evidence from Electrical Machinery Manufacturing Firms," Discussion papers 08034, Research Institute of Economy, Trade and Industry (RIETI).
  4. KWON Hyeog Ug & NARITA Futoshi & NARITA Machiko, 2009. "Resource Reallocation and Zombie Lending in Japan in the '90s," Discussion papers 09052, Research Institute of Economy, Trade and Industry (RIETI).

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