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Survey: Did the TFP Growth Rate in Japan Decline in the 1990s?(in Japanese)

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  • INUI Tomohiko
  • KWON Hyeog Ug

Abstract

This paper surveys the body of research grounded on a basic question "Did the total factor productivity (TFP) growth rate in Japan decline in the 1990s?" In addition, using industry-level data of the Japan Industrial Productivity Database (JIP database) we estimate the mark-ups and the degree of returns to scale and then re-estimate TFP growth rates. Most of studies reviewed in this paper show a decline in TFP growth in the 1990s at the macro-level and the industry-level. There are some studies that show only a small decline in the TFP growth rate during the 1990s. Our estimation results show that mark-ups are positive and statistically significant in almost all industries. The estimated scale effects are also strong and significant in almost all industries. We examine how mark-up and returns to scale estimates affect the estimated TFP growth rates using the Japan Industry Productivity database. We find that the rate of technical progress is faster in the 1990s than in the 1980s if we take economies of scale into account.

Suggested Citation

  • INUI Tomohiko & KWON Hyeog Ug, 2004. "Survey: Did the TFP Growth Rate in Japan Decline in the 1990s?(in Japanese)," ESRI Discussion paper series 115, Economic and Social Research Institute (ESRI).
    • Handle: RePEc:esj:esridp:115
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    Cited by:

    1. Kyoji Fukao, 2013. "Explaining Japan's Unproductive Two Decades," Asian Economic Policy Review, Japan Center for Economic Research, vol. 8(2), pages 193-213, December.
    2. FUKAO Kyoji & IKEUCHI Kenta & KWON Hyeog Ug & YoungGak KIM & MAKINO Tatsuji & TAKIZAWA Miho, 2015. "Lessons from Japan's Secular Stagnation," Discussion papers 15124, Research Institute of Economy, Trade and Industry (RIETI).

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