Productivity and market performance : time-series observation (1960-1977) in the Japanese economy

概要

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After the periods Simon Kuznets concerned in his eminent book, Economic Growth of Nations (1971), the Japanese economy experienced dramatically rapid economic growth higher than the historical standard. Our first objective in this paper is to analyze features of the Japanese economic growth over the period 1960 to 1973. To formulate an approach to research on the feature in Japanese economic growth, we can draw on the work of Jorgenson and Nishimizu (1978) and Gollop and Jorgenson (1980). As theoretical concerns, we tried to apply the same methodology of measurement of total factor productivity by industries they used over the period 1960 to 1977. We could verify their finding in the Japanese economy and result that the rapid upheaval of the efficiency in the Japanese economy stemed from the well-behaved balanced growth especially over the period 1966 to 1969. Our second objective is to find some characteristics in the recovery process of the Japanese economy after the oil crisis. Here we found that the recovery patterns after the oil crisis is too much different from the pattern during the period 1960 to 1973.
慶應義塾大学の論文