Plant Turnover and TFP Dynamics in Japanese Manufacturing
AbstractThis 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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Bibliographic InfoPaper provided by Institute of Economic Research, Hitotsubashi University in its series Hi-Stat Discussion Paper Series with number d06-180.
Date of creation: Aug 2006
Date of revision:
Other versions of this item:
- Fukao, Kyoji & Kim, YoungGak & Kwon, Hyeog Ug, 2007. "Plant Turnover and TFP Dynamics in Japanese Manufacturing," CEI Working Paper Series 2006-17, Center for Economic Institutions, Institute of Economic Research, Hitotsubashi University.
- O4 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity
- O53 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East
This paper has been announced in the following NEP Reports:
- NEP-ALL-2006-08-12 (All new papers)
- NEP-EFF-2006-08-12 (Efficiency & Productivity)
- NEP-ENT-2006-08-12 (Entrepreneurship)
- NEP-TID-2006-08-12 (Technology & Industrial Dynamics)
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