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Identifier to cite or link to this item: https://hdl.handle.net/10086/14079

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Title
Overcoming economic stagnation in Japan: The importance of total factor productivity and the potential contribution of foreign direct investment
Creator
Creator Name
Paprzycki, Ralph Paprzycki, Ralph
Affiliation
Affiliation Name
Hitotsubashi University
Creator Name
Fukao, Kyoji Fukao, Kyoji
深尾, 京司 深尾, 京司
フカオ, キョウジ フカオ, キョウジ
Editor
Contributor Name
社会科学における統計分析拠点構築 = Research Unit for Statistical Analysis in Social Sciences
Abstract
The 1990s have been a decade of minimal growth for the Japanese economy. Examining this record from a growth accounting perspective, this paper argues that a major factor underlying Japan's disappointing growth performance in recent years has been a marked slow-down in total factor productivity (TFP) growth. It is suggested that, given present population trends and low returns on capital, any sustained increase in overall economic growth will require an acceleration in TFP growth. In this context, foreign direct investment (FDI) can potentially make an important contribution by increasing the degree of competition in the economy and, if foreign firms are more productive than domestic ones, by raising average TFP levels in Japanese industry.
Description
38231
Publisher
Institute of Economic Research, Hitotsubashi University
Issued Date
2004-08
Language
English(eng)
Resource Type
technical report
Version Type
VoR
Is Part OfRelation -
Related Title
Hi-Stat Discussion paper series ; No. d04-39
Number of Pages
26
Sponsorship
21世紀COEプログラム = 21st-Century COE Program
Appears in Collections
Hi-Stat Discussion paper series
URL
https://hdl.handle.net/10086/14079