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It's Not Structural Change, but Domestic Demand: Productivity Growth in Japan

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Author Info

  • Akira Kohsaka

    (Professor, School of International Studies, Kwansei Gakuin University)

  • Jun-ichi Shinkai

    (Specially Appointed Researcher, Osaka School of International Public Policy, Osaka University)

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    Abstract

    This paper examines the role of structural change in productivity growth in Japan, focusing on her recent "lost decades", with reference to the United States. Japan is now known to have a sharp slowdown in productivity growth in the 1990s, when we find a slowdown in intra-industry productivity growth is the main cause. We also find that the contribution of inter-industry reallocation of employment is almost zero in the 1990s and even significantly negative in the 2000s. Interestingly, the same holds true in the US, too. We will argue that structural change or the lack of it may not be responsible for the lost decades in Japan, and that these contrasting outcomes between Japan and the US come from a common factor.

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    File URL: http://www.osipp.osaka-u.ac.jp/archives/DP/2013/DP2013E005.pdf
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    Bibliographic Info

    Paper provided by Osaka School of International Public Policy, Osaka University in its series OSIPP Discussion Paper with number 13E005.

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    Length: 16 pages
    Date of creation: Aug 2013
    Date of revision:
    Handle: RePEc:osp:wpaper:13e005

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    Web page: http://www.osipp.osaka-u.ac.jp/
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    Related research

    Keywords: Japan's lost decades; productivity growth; structural change;

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    1. Kyoji Fukao & Tsutomu Miyagawa & Hak K. Pyo & Keun Hee Rhee, 2011. "Estimates of Total Factor Productivity, the Contribution of ICT, and Resource Reallocation Effects in Japan and Korea," Global COE Hi-Stat Discussion Paper Series gd10-177, Institute of Economic Research, Hitotsubashi University.
    2. Fumio Hayashi & Edward C. Prescott, 2000. "The 1990s in Japan: a lost decade," Working Papers 607, Federal Reserve Bank of Minneapolis.
    3. Dale Jorgenson & Koji Nomura, 2007. "The Industry Origins of the US-Japan Productivity Gap," Economic Systems Research, Taylor & Francis Journals, vol. 19(3), pages 315-341.
    4. Fumio Hayashi & Edward C. Prescott, 2002. "Data Appendix to The 1990s in Japan: A Lost Decade," Technical Appendices hayashi02, Review of Economic Dynamics.
    5. Robert J. Gordon, 2000. "Does the "New Economy" Measure up to the Great Inventions of the Past?," NBER Working Papers 7833, National Bureau of Economic Research, Inc.
    6. Margaret S. McMillan & Dani Rodrik, 2011. "Globalization, Structural Change and Productivity Growth," NBER Working Papers 17143, National Bureau of Economic Research, Inc.
    7. Kyoji Fukao & Hyeog Ug Kwon, 2005. "Why Did Japan's TFP Growth Slow Down in the Lost Decade? An Empirical Analysis Based on Firm-Level Data of Manufacturing Firms," Discussion papers 05004, Research Institute of Economy, Trade and Industry (RIETI).
    8. Benjamin N. Dennis & Talan Iscan, 2007. "Accounting for Structural Change: Evidence from Two Centuries of U.S. Data," Department of Economics at Dalhousie University working papers archive account7, Dalhousie, Department of Economics.
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