It's Not Structural Change, but Domestic Demand: Productivity Growth in Japan
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.
|Date of creation:||Aug 2013|
|Contact details of provider:|| Postal: 1-31, Machikaneyama, Toyonaka, Osaka, 560-0043|
Web page: http://www.osipp.osaka-u.ac.jp/
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Fumio Hayashi & Edward C. Prescott, 2004.
"The 1990s in Japan: a lost decade,"
in: The Economics of an Ageing Population, chapter 2
Edward Elgar Publishing.
- Margaret S. McMillan & Dani Rodrik, 2011.
"Globalization, Structural Change and Productivity Growth,"
NBER Working Papers
17143, National Bureau of Economic Research, Inc.
- McMillan, Margaret & Rodrik, Dani, 2012. "Globalization, structural change, and productivity growth:," IFPRI discussion papers 1160, International Food Policy Research Institute (IFPRI).
- Kyoji Fukao & Hyeog Ug Kwon, 2004.
"Why Did Japan's TFP Growth Slow Down in the Lost Decade?: An Empirical Analysis Based on Firm-Level Data of Manufacturing Firms,"
Hi-Stat Discussion Paper Series
d04-50, Institute of Economic Research, Hitotsubashi University.
- Kyoji Fukao & Hyeog Ug Kwon, 2006. "Why Did Japan'S Tfp Growth Slow Down In The Lost Decade? An Empirical Analysis Based On Firm-Level Data Of Manufacturing Firms," The Japanese Economic Review, Japanese Economic Association, vol. 57(2), pages 195-228.
- 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).
- 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.
- Robert J. Gordon, 2000. "Does the "New Economy" Measure Up to the Great Inventions of the Past?," Journal of Economic Perspectives, American Economic Association, vol. 14(4), pages 49-74, Fall.
- Gordon, Robert J, 2000. "Does the 'New Economy' Measure up to the Great Inventions of the Past?," CEPR Discussion Papers 2607, C.E.P.R. Discussion Papers.
- 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.
- Kyoji Fukao & Tsutomu Miyagawa & Hak Kil Pyo & Keun Hee Rhee, 2012. "Estimates of Total Factor Productivity, the Contribution of ICT, and Resource Reallocation Effects in Japan and Korea," Chapters, in: Industrial Productivity in Europe, chapter 9 Edward Elgar Publishing.
- 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.
- Fumio Hayashi & Edward C. Prescott, 2002.
"Data Appendix to The 1990s in Japan: A Lost Decade,"
hayashi02, Review of Economic Dynamics.
- 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.
When requesting a correction, please mention this item's handle: RePEc:osp:wpaper:13e005. 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: (Akiko Murashita)
If references are entirely missing, you can add them using this form.