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ID 28480
file
creator
subject
Macro economy
capital stock
productivity
TFP
Solow's residuals
NDC
Economics
abstract
This paper analyzes factors in the transition of production and the situation of productivity including (Total Factor Productivity) TFP using Japanese macro time series economic data from 1955 to 2000. Labor productivity in the overall Japanese economy slowly declined during the 1990s, yet TFP did not decline during the same period. These changes were measured using both the Total Cost approach and Solow's residuals, adjusted by the operating ratio of equipment. We found that the real reasons for Japan's slower growth rate during the 1990s were negative growth of capital and labor. The primary cause was a decline in the distribution of capital, which negatively affected the operating ratio and the growth rate of capital stock on the capital side, while also decreasing both labor hours and employees on the labor side. This corresponds with declining investment on the demand side as a factor in recession.
journal title
Journal of International Development and Cooperation
volume
Volume 13
issue
Issue 1
start page
11
end page
27
date of issued
2007-03-30
publisher
広島大学大学院国際協力研究科
issn
1341-0903
ncid
SelfDOI
language
eng
nii type
Departmental Bulletin Paper
HU type
Departmental Bulletin Papers
DCMI type
text
format
application/pdf
text version
publisher
department
Graduate School for International Development and Cooperation
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