Measured Productivity Growth in Japan, 1952-1968
Japanese economic developments during the 1950s and 1960s invite study. This period was one of dramatic economic growth, growth that has attracted the intense interest of admirers and critics alike. What is extremely interesting about the growth patterns of the period is that they were generally not correctly anticipated or predicted. Typically, the growth rate was under-predicted, for example, and balance of payments deficits over-predicted. It seems clear to me that a good deal more research into the Japanese experience will be of great value both in understanding the period and in forecasting future developments. The purpose of this study is to measure the quantitative importance of productivity growth or total factor productivity change and to help prepare the way for a more detailed explanation of this important force.
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Volume (Year): 2 (1974)
Issue (Month): 3 (April)
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