IDEAS home Printed from https://ideas.repec.org/a/oup/oxford/v16y2000i2p34-45.html
   My bibliography  Save this article

Technical Progress and the Growth of the Japanese Economy--Past and Future

Author

Listed:
  • Yoshikawa, Hiroshi

Abstract

This paper considers technical progress and the growth of the Japanese economy. Many economists are pessimistic about the economy's future because of the rapid ageing of the population. However, capital and total factor productivity (TFP) are much more important than labour in determining economic growth. During the high-growth era of the 1950s and 1960s, TFP contributed almost 4 percentage points to the 10 per cent annual growth rate. Since then, however, TFP growth has fallen significantly. During the 1970s, Japan's machinery industries became world leaders and made possible the export-led growth of the period 1975-85. I argue that the stagnation of the 1990s was caused by demand deficiency, and that demand creation by technical progress is the key to economic growth. Copyright 2000 by Oxford University Press.

Suggested Citation

  • Yoshikawa, Hiroshi, 2000. "Technical Progress and the Growth of the Japanese Economy--Past and Future," Oxford Review of Economic Policy, Oxford University Press, vol. 16(2), pages 34-45, Summer.
  • Handle: RePEc:oup:oxford:v:16:y:2000:i:2:p:34-45
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Tim Callen & Warwick J. McKibbin, 2001. "Policies and Prospects in Japan and the Implications for the Asia-Pacific Region," IMF Working Papers 01/131, International Monetary Fund.
    2. Kalim Siddiqui, 2015. "Political Economy Of Japan’S Decades Long Economic Stagnation," Equilibrium. Quarterly Journal of Economics and Economic Policy, Institute of Economic Research, vol. 10(4), pages 9-39, December.
    3. Adam S. Posen, 2001. "Unchanging Innovation and Changing Economic Performance in Japan," Working Paper Series WP01-5, Peterson Institute for International Economics.
    4. repec:spr:joevec:v:27:y:2017:i:3:d:10.1007_s00191-017-0498-4 is not listed on IDEAS
    5. Kawamoto, Takuji, 2005. "What Do the Purified Solow Residuals Tell Us about Japan's Lost Decade?," Monetary and Economic Studies, Institute for Monetary and Economic Studies, Bank of Japan, vol. 23(1), pages 113-148, February.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:oup:oxford:v:16:y:2000:i:2:p:34-45. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Oxford University Press) or (Christopher F. Baum). General contact details of provider: https://academic.oup.com/oxrep .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.