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2004 Fiscal Year Final Research Report Summary

INDUSTRIAL STRUCTURE, PRODUCTIVITY AND ECONOMIC GROWTH IN JAPAN

Research Project

Project/Area Number 15330043
Research Category

Grant-in-Aid for Scientific Research (B)

Allocation TypeSingle-year Grants
Section一般
Research Field Applied economics
Research InstitutionHITOTSUBASHI UNIVERSITY

Principal Investigator

FUKAO Kyoji  HITOTSUBASHI UNIVERSITY, INSTITUTE OF ECONOMIC RESEARCH, PROFESSOR, 経済研究所, 教授 (30173305)

Co-Investigator(Kenkyū-buntansha) MIYAGAWA Tsutomu  GAKUSHUIN UNIVERSITY, FACULTY OF ECONOMICS, PROFESSOR, 経済学部, 教授 (30272777)
INUI Tomohiko  NIHON UNIVERSITY, COLLEGE OF ECONOMICS, PROFESSOR, 経済学部, 教授 (10328669)
KAWAI Hiroki  KEIO UNIVERSITY, FACULTY OF ECONOMICS, ASSOCIATE PROFESSOR, 経済学部, 助教授 (00276396)
Project Period (FY) 2003 – 2004
KeywordsJIP Database / Total Factor Productivity / IT Revolution / IT Capital / Factor Contents / Equilibrium Exchange Rate / Research and Development / Intra-industry Trade
Research Abstract

Using the newly compiled data, the Japan Industrial Productivity(JIP) Database, Fukao, Inui, Kawai and Miyagawa(2004) analyzed Japan's sectoral TFP growth in recent years. The main results are as follows. 1)After taking account of the quality of labor and the capacity utilization rate we found the decline in TFP growth at the macro-level from the 1980s to the 1990s not to be so great. The decline in TFP growth from the 1983-91 period to the 1991-98 period is 0.20 percentage-points. The slowdown in TFP growth mainly occurred in the manufacturing sector. The manufacturing sector's contribution to macro-TFP growth declined from 0.74 percentage-points in 1983-91 to -0.03 percentage-points in 1991-98. In contrast, TFP growth in the non-manufacturing sectors accelerated during the 1990s. Non-manufacturing sectors' contribution to macro-TFP growth increased from -0.34 percentage-points in 1983-91 to 0.22 percentage-points in 1991-98.
Miyagawa, Ito and Harada (2004) examine the contribution of … More IT investment to economic growth in Japan, and estimate the spillover effects of IT investment. We decompose labor productivity growth into four terms, following Sonobe and Otsuka (2001), and find out that intra-sectoral capital deepening effects is the dominant factor in productivity growth. However, the recent productivity slowdown is caused by the lack of reallocation effects of labor. Further, we estimate production functions and TFP growth functions, examining network externalities of IT capital. As a result, we find inter-industry spillover effects of input side as well as intra-industry spillover effects.
Fukao and Kwon (forthcoming) analyses the cause of the slowdown in Japan's TFP growth during the 1990s. Using firm level panel data covering the entire sector, we investigate the causes of the TFP slowdown and find that the reallocation of resources from less efficient to more efficient firms was very slow and limited. This "low metabolism" seems to be an important cause for the slowdown in Japan's TFP growth. Less

  • Research Products

    (26 results)

All 2005 2004 Other

All Journal Article (24 results) Book (2 results)

  • [Journal Article] Foreign Direct Investment and Trade in Japan : An Empirical Analysis Based on the Establishment and Enterprise Census for 19962005

    • Author(s)
      Ito, Keiko, Kyoji, Fukao
    • Journal Title

      Journal of the Japanese and International Economies (forthcoming)

      Pages: 1-42

    • Description
      「研究成果報告書概要(和文)」より
  • [Journal Article] Physical and Human Capital Deepening and New Trade Patterns in Japan2005

    • Author(s)
      Ito, Keiko, Kyoji Fukao
    • Journal Title

      International Trade, NBER-East Asian on Economics VOl.14(forthcoming)

      Pages: (TTL59)

    • Description
      「研究成果報告書概要(和文)」より
  • [Journal Article] International Comparison Historical Perspective : Reconstructing the 1934-36 Benchmark Purchasing Power Parity for Japan, Korea and Taiwan2005

    • Author(s)
      Fukao, Kyoji, Debin Ma, Tangjun Yuan
    • Journal Title

      Explorations in Economic History (forthcoming)

      Pages: (TTL39)

    • Description
      「研究成果報告書概要(和文)」より
  • [Journal Article] Do Out-In M&As Bring Higher TFP to Japan? An Empirical Analysis Based on Micro-data on Japanese Manufacturing Firms2005

    • Author(s)
      FUkao, Kyoji, Keiko Ito, Hyeong Ug Kwon
    • Journal Title

      Journal of the Japanese and International Economies Vol.19,Issue2

      Pages: 272-301

    • Description
      「研究成果報告書概要(和文)」より
  • [Journal Article] 垂直的産業内貿易と直接投資-日本の電機産業を中心とした実証分析-2005

    • Author(s)
      石戸光, 伊藤恵子, 深尾京司, 吉池喜政
    • Journal Title

      日本経済研究 No.51

      Pages: 1-32

    • Description
      「研究成果報告書概要(和文)」より
  • [Journal Article] The Internationalization and Performance of Korean and Japanese Firms : An Empirical Analysis Based on Micro-data2005

    • Author(s)
      Ahn, Sanghoon, Kyoji Fukao, Hyeog Ug Kwon
    • Journal Title

      Seoul Journal of Economics Vol.17,No.4

      Pages: 439-482

    • Description
      「研究成果報告書概要(和文)」より
  • [Journal Article] Equilibrium Exchange Rates in Asian Currencies2005

    • Author(s)
      Miyagawa, Tsutomu, Hideki Toya, Tatsuji Makino
    • Journal Title

      Japan' Korea Industrial Workshop (held in December 2004)

      Pages: (TTL24)

    • Description
      「研究成果報告書概要(和文)」より
  • [Journal Article] 展望:日本のTFP上昇率は1990年代においてどれだけ低下したか2005

    • Author(s)
      乾友彦, 権赫旭
    • Journal Title

      経済分析 (近刊)

      Pages: (TTL40)

    • Description
      「研究成果報告書概要(和文)」より
  • [Journal Article] 規模の経済と経済成長-TFP成長率の要因分解-2005

    • Author(s)
      乾友彦
    • Journal Title

      経済集志 第75巻第1号

      Pages: 65-71

    • Description
      「研究成果報告書概要(和文)」より
  • [Journal Article] Foreign Direct Investment and Trade in Japan : An Empirical Analysis Based on the Establishment and Enterprise Census for 19962005

    • Author(s)
      Ito, Keiko, Kyoji Fukao
    • Journal Title

      Journal of the Japanese and International Economies (forthcoming)

      Pages: 1-42

    • Description
      「研究成果報告書概要(欧文)」より
  • [Journal Article] Physical and Human Capital Deepening and New Trade Patterns in Japan2005

    • Author(s)
      Ito, Keiko, Kyoji Fukao
    • Journal Title

      International Trade, NBER East Asia on Economics(edited by Takatoshi Ito and Andrew K.Rose)(the University of Chicago Press) Vol.14(forthcoming)TTL 59

    • Description
      「研究成果報告書概要(欧文)」より
  • [Journal Article] International Comparison in Historical Perspective : Reconstructing the 1934-36 Benchmark Purchasing Power Parity for Japan, Korea and Taiwan2005

    • Author(s)
      Fukao, Kyoji, Debin Ma, Tangjun Yuan
    • Journal Title

      Exploration in Economic History (forthcoming)TTL 39

    • Description
      「研究成果報告書概要(欧文)」より
  • [Journal Article] Do Out-In M & As Bring Higher TFP to Japan? An Empirical Analysis Based on Micro-data on Japanese Manufacturing Firms2005

    • Author(s)
      Fukao, Kyoji, Keiko Ito, Hyeog Ug Kwon
    • Journal Title

      Journal of the Japanese and International Economies Vol.19, Issue 2

      Pages: 272-301

    • Description
      「研究成果報告書概要(欧文)」より
  • [Journal Article] Vertical Intra-industry Trade and FDI : An Empirical Analysis Focused on Japan's Electrical Machinery Industry2005

    • Author(s)
      Ishido, Hikari, Keiko Ito, Kyoji Fukao, Yoshimasa Yoshiike
    • Journal Title

      JCER Economic Journal Vol.51

      Pages: 1-32

    • Description
      「研究成果報告書概要(欧文)」より
  • [Journal Article] The Internationalization and Performance of Korean and Japanese Firms : An Empirical Analysis Based on Micro-data2005

    • Author(s)
      Ahn, Sanghoon, Kyoji Fukao, Hyeog Ug Kwon
    • Journal Title

      Seoul Journal of Economics Vol.17, No.4

      Pages: 439-482

    • Description
      「研究成果報告書概要(欧文)」より
  • [Journal Article] Equilibrium Exchange Rates in Asian Currencies2005

    • Author(s)
      Miyagawa, Tsutomu, Hideki Toya, Tatsuji Makino
    • Journal Title

      paper presented at the Japan' Korea Industrial Workshop(revised in February 2005) TTL 24

    • Description
      「研究成果報告書概要(欧文)」より
  • [Journal Article] How Much Did Japan's TFP Growth Slow Down in 1990s?2005

    • Author(s)
      Inui, Tomohiko, Hyeog Ug Kwon
    • Journal Title

      The Keizai Bunseki, Economic and Social Research Institute, Cabinet Office, Government of Japan, Tokyo (forthcoming)

    • Description
      「研究成果報告書概要(欧文)」より
  • [Journal Article] Scale Economy and Economic Growth : A Decomposition Analysis of Japan's TFP Growth2005

    • Author(s)
      Inui, Tomohiko
    • Journal Title

      Keizai Shushi(Nihon University) Vol.75, No.1

      Pages: 65-71

    • Description
      「研究成果報告書概要(欧文)」より
  • [Journal Article] Sectoral Productivity and Economic Growth in Japan, 1970-98: An Empirical Analysis Based on the JIP Database2004

    • Author(s)
      Fukao, Kyoji, Tomohiko Inui, Hiroki Kawai, Tsutomu Miyagawa
    • Journal Title

      Growth and Productivity in East Asia, NBER-East Asia on Economics Vol.13

      Pages: 177-228

    • Description
      「研究成果報告書概要(和文)」より
  • [Journal Article] The IT revolution and productivity growth in Japan2004

    • Author(s)
      Miyagawa, Tsutomu, Yukiko Ito, Nobuyuki Harada
    • Journal Title

      Journal of the Japanese and International Economies Vol.18,Issue3

      Pages: 362-389

    • Description
      「研究成果報告書概要(和文)」より
  • [Journal Article] Sectoral Productivity and Economic Growth in Japan, 1970-98 : An Empirical Analysis Based on the JIP Database2004

    • Author(s)
      Fukao, Kyoji, Tomohiko Inui, Hiroki Kawai, Tsutomu Miyagawa
    • Journal Title

      Growth and Productivity in East Asia, NBER-East Asia on Economics(edited by Takatoshi Ito and Andrew K.Rose)(The University of Chicago Press) Vol.13

      Pages: 177-228

    • Description
      「研究成果報告書概要(欧文)」より
  • [Journal Article] The IT revolution and productivity growth in Japan2004

    • Author(s)
      Miyagawa, Tsutomu, Yukiko Ito, Nobuyuki Harada
    • Journal Title

      Journal of the Japanese and International Economies Vol.18, Issue 3

      Pages: 362-389

    • Description
      「研究成果報告書概要(欧文)」より
  • [Journal Article] Why Did Japan's Growth Slow Down in the Lost Decade? An Empirical Analysis Based on Firm-Level Data of Manufacturing Firms

    • Author(s)
      Fukao, Kyoji, Hyeog Ug Kwon
    • Journal Title

      The Japanese Economic Review (forthcomig)

      Pages: (TTL41)

    • Description
      「研究成果報告書概要(和文)」より
  • [Journal Article] Why Did Japan's Growth Slow Down in the Lost Decade? An Empirical Analysis Based on Firm-Level Data of Manufacturing Firms

    • Author(s)
      Fukao, Kyoji, Hyeog Ug Kwon
    • Journal Title

      The Japanese Economic Review (forthcoming)TTL 41

    • Description
      「研究成果報告書概要(欧文)」より
  • [Book] 対日直接投資と日本経済2004

    • Author(s)
      深尾京司, 天野倫文
    • Total Pages
      321
    • Publisher
      日本経済新聞社
    • Description
      「研究成果報告書概要(和文)」より
  • [Book] Inward Direct In vestment and the Japanese Economy2004

    • Author(s)
      Fukao, Kyoji, Hirofumi Amano
    • Total Pages
      321
    • Publisher
      Nihon Keizai Shinbum, Inc., TTL
    • Description
      「研究成果報告書概要(欧文)」より

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Published: 2006-07-11  

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