Growth and Stagnation: The Case of the Japanese Economy (1981-2009)

Serie

• Documentos de Trabajo CIEF

Resumen

• The pace of Japanese economic growth was substantially higher than that exhibited by the group of developed economies between 1985 and 1995; later has been lower. What explains this relative decline? According to the econometric results of an exercise carried out, inspired by the model of Aghion and Howitt (2009), the hypotheses of insufficient investment or savings can be considered implausible to explain such performance, while an alternative hypothesis can be considered likely: The loss of efficiency of the Japanese society, compared with the other developed societies, to transform resources required in R&D into a high and constant rate of technical change.

autores

• Ballesteros, Carlos Andrés
• Posada, Carlos Esteban

fecha de publicación

• 2017-05

Área temática

• O11 - Análisis macroeconómico del desarrollo económico
• O31 - Innovación e invención: procesos e incentivos
• O33 - Cambio tecnológico: opciones y consecuencias; Difusión
• O41 - Modelos de crecimiento de uno, dos o varios sectores
• O47 - estudios empíricos del crecimiento económico; Productividad agregada; Convergencia
• O57 - Estudios comparativos por países

Enfoque geográfico

• Asia  Continent
• Japan  Country

Líneas de investigación

• Capital Stock
• Economic Growth
• Investment Rate
• R&D Expenditures
• Schumpeter Model
• Slow Model

Issue

• 15661