IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this paper or follow this series

Explaining Growth Slowdowns in a Multisector Model: The Case of Japan

  • Wilbur John Coleman II

The path of economic development for rich industrialized countries is typically to transit from farming to manufacturing to services. To do so requires corresponding productivity gains to pull the economy from one sector to the next one. For example, the US and Japan developed their manufacturing sectors only after dramatic improvements in the productivity of the manufacturing sector. Then, in the face of growing competition in manufacturing from other economies in the world, the US developed its service sector. This has fueled the growth of the US economy for much of the post-war period. The slowdown in growth in Japan can perhaps be due to two events: (1) a fall in the relative price of their manufactured goods due to increasing competition from other low-wage economies such as China and South Korea, and (2) the lack of productivity improvements in the service sector which prevented them from making the same adjustment as the US did to sustain growth at a moderate level. This paper begins by exploring the quantitative relationships just described by developing a multi-sector growth accounting exercise with an application to Japan. Initial results seems to support this claim: Japan’s terms of trade fell during the 90s and productivity growth in Japan’s service sector are estimated to be below that of other industrialized nations. The latter part of this project aims to explain why productivity in the service sector in Japan has been so low

To our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" 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.

Paper provided by Society for Economic Dynamics in its series 2004 Meeting Papers with number 122.

as
in new window

Length:
Date of creation: 2004
Date of revision:
Handle: RePEc:red:sed004:122
Contact details of provider: Postal: Society for Economic Dynamics Christian Zimmermann Economic Research Federal Reserve Bank of St. Louis PO Box 442 St. Louis MO 63166-0442 USA
Fax: 1-314-444-8731
Web page: http://www.EconomicDynamics.org/society.htm
Email:


More information through EDIRC

No references listed on IDEAS
You can help add them by filling out this form.

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:red:sed004:122. 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: (Christian Zimmermann)

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.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with 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 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.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.