nach oben

Erschienen in:

2018 | OriginalPaper | Buchkapitel

15. Structural Change, Sectoral Disparity, and the Economic Growth Process in Japan

verfasst von : Hiroshi Nishi

Erschienen in: Evolving Diversity and Interdependence of Capitalisms

Verlag: Springer Japan

Einloggen

Aktivieren Sie unsere intelligente Suche, um passende Fachinhalte oder Patente zu finden.

search-config

KI-gestützte Suche

Aus

Abstract

This study examines the relationship between structural change, sectoral disparity, and economic growth in the Japanese economy. Structural change in this study refers to change in the sectoral composition (share) of an aggregate economy. Sectoral disparity is measured by the sectoral contribution to economic growth and the sectoral difference in the levels of value added and labour productivity. In this study, therefore, we use a disaggregation approach and divide the macroeconomy into sectors based on the Japan Industrial Productivity Database of 2014 (JIP database hereafter) compiled by the Research Institute of Economy, Trade and Industry (RIETI). The disaggregation approach is important because, as we see below, sectoral performances such as growth rates and levels of labour productivity and value added are not always uniform among sectors. Thus, sectoral heterogeneity is evolving in Japan.

Sie haben noch keine Lizenz? Dann Informieren Sie sich jetzt über unsere Produkte:

Springer Professional "Wirtschaft+Technik"

Online-Abonnement

Mit Springer Professional "Wirtschaft+Technik" erhalten Sie Zugriff auf:

über 102.000 Bücher
über 537 Zeitschriften

aus folgenden Fachgebieten:

Automobil + Motoren
Bauwesen + Immobilien
Business IT + Informatik
Elektrotechnik + Elektronik
Energie + Nachhaltigkeit
Finance + Banking
Management + Führung
Marketing + Vertrieb
Maschinenbau + Werkstoffe
Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

Jetzt informieren

Springer Professional "Technik"

Online-Abonnement

Mit Springer Professional "Technik" erhalten Sie Zugriff auf:

über 67.000 Bücher
über 390 Zeitschriften

aus folgenden Fachgebieten:

Automobil + Motoren
Bauwesen + Immobilien
Business IT + Informatik
Elektrotechnik + Elektronik
Energie + Nachhaltigkeit
Maschinenbau + Werkstoffe

Jetzt Wissensvorsprung sichern!

Jetzt informieren

Springer Professional "Wirtschaft"

Online-Abonnement

Mit Springer Professional "Wirtschaft" erhalten Sie Zugriff auf:

über 67.000 Bücher
über 340 Zeitschriften

aus folgenden Fachgebieten:

Bauwesen + Immobilien
Business IT + Informatik
Finance + Banking
Management + Führung
Marketing + Vertrieb
Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

Jetzt informieren

Vorheriges Kapitel Modular Mode of Production, Chinese Style: Origin and Evolution

Nächstes Kapitel Multinationalization of Japanese Firms and Dysfunction of Companyist Régulation

Further, the final demand by sector in the JIP database input–output table is also suitable to capture the demand side dynamics. However, since some data on demand components are unavailable, we cannot conduct the statistical analysis smoothly. Therefore, we employ value added to capture the demand side of the economy. For the statistical processing relationship between value added and final demand, see the JIP database website of RIETI.

The original data for value added generates outliers in these indices for 1982 and 1983. This is because the sector of electronic equipment and electric measuring instruments (no. 50) takes a value (6470,7985 million) in 1982 that may be an outlier. Therefore, we changed this value and plotted it by smoothing its value with the 5-year average.

Prasad (1997) also uses the Lilien index to capture the degree of the structural change in labour productivity and documents that the Japanese economy underwent gradual structural change in this term until the beginning of the 1990s.

The log variance measures the degree of inequality in the economic outcomes. This has the advantage of explaining the source of the change in inequality by decomposing it into within-group effects (dispersion effect within each group) and between-group effects (dispersion effect between different groups). A rise (fall) in this variable means that dispersion is increasing (decreasing).

With regard to labour productivity decomposition, the current method also follows Syrquin (1988). Aggregate labour productivity per man-hour y is defined as y = ∑ y _is _{L, i}, where y _i is sectoral labour productivity per man-hour and s _{L, i} the sectoral share of man-hours. The increment in labour productivity is as follows:

$$ \Delta y=\sum \limits_i{\Delta y}_i{s}_{L,i}+\sum \limits_i{y}_i{\Delta s}_{L,i} $$

The growth rate of labour productivity at the macroeconomic level is then obtained by dividing both sides by y,

which is

$$ \frac{\Delta y}{y}=\sum \limits_i{s}_{L,i}\left(\frac{{\Delta y}_i}{y}+\frac{\Delta {s}_{L,i}}{s_L}\bullet \frac{y_i}{y}\right) $$

where the first term in parentheses represents the ‘within effect’ and the second term represents the ‘between effect’ (Baily et al. 1992; Krüger 2008). Therefore, aggregate productivity growth can be decomposed into within-sector growth in labour productivity and the sectoral shift in share of man-hours.

Baily M, Hulten C, Campbell D (1992) Productivity dynamics in manufacturing plants. In: Brookings papers on economic activity: microeconomics. The Brookings Institution, Washington, DC, pp 187–267CrossRef

Baumol W (1967) Macroeconomics of unbalanced growth: the anatomy of urban crisis. Am Econ Rev 57(3):415–426

Baumol W, Blackman S, Wolff E (1985) Unbalanced growth revisited: asymptotic stagnancy and new evidence. Am Econ Rev 75(4):806–817

Boyer R, Yamada T (eds) (2000) Japanese capitalism in crisis: a Régulationist interpretation. Routledge, London

Boyer R, Uemura H, Isogai A (eds) (2011) Diversity and transformations of Asian capitalisms: a de facto regional integration. Routledge, London

Dietrich A (2012) Does growth cause structural change, or is it the other way around? A dynamic panel data analysis for seven OECD countries. Empir Econ 43(3):915–944CrossRef

Fukao K (2012) Lost two decades and Japanese economy. Nihonkeiazi Shinbunsha, Tokyo (in Japanese)

Fukao K, Miyagawa T (eds) (2008) Productivity and Japanese economic growth: empirical analysis at industrial and firm level using JIP database. Tokyo University Press, Tokyo (in Japanese)

Harberger A (1998) A vision of the growth process. Am Econ Rev 88(1):1–32

Hartwig J (2011) Testing the Baumol-Nordhaus model with EU KLEMS data. Rev Income Wealth 57(3):471–489CrossRef

Hartwig J (2012) Testing the growth effects of structural change. Struct Chang Econ Dyn 23(1):11–24CrossRef

Hein E (2014) Distribution and growth after Keynes. Edward Elgar, CheltenhamCrossRef

Inklaar R, Timmer M (2007) Of yeast and mushrooms: patterns of industry-level productivity growth. Ger Econ Rev 8(2):174–187CrossRef

Ito K, Lechevalier S (2009) The evolution of the productivity dispersion of firms: a reevaluation of its determinants in the case of Japan. Rev World Econ 145(3):405–429CrossRef

Krüger J (2008) The sources of aggregate productivity growth: US manufacturing industries, 1958-1996. Bull Econ Res 60(4):405–427CrossRef

Lavoie M, Stockhammer E (eds) (2013) Wage-led growth: an equitable strategy for economic recovery. Palgrave Macmillan, New York

Lilien D (1982) Sectoral shifts and cyclical unemployment. J Polit Econ 90(4):777–793CrossRef

Maroto-Sánchez A, Cuadrado-Roura JR (2009) Is growth of services an obstacle to productivity growth? A comparative analysis. Struct Chang Econ Dyn 20(4):254–265CrossRef

Morikawa M (2014) Productivity analysis in service industries: an empirical analysis using microdata. Nihon hyorosha, Tokyo (in Japanese)

Nordhaus W (2008) Baumol’s diseases: a macroeconomics perspective. B.E J Macroecon 8(1):1–37CrossRef

Pasinetti L (1993) Structural economic dynamics: a theory of the economic consequences of human learning. Cambridge University Press, CambridgeCrossRef

Peneder M (2003) Industrial structure and aggregate growth. Struct Chang Econ Dyn 14(4):427–448CrossRef

Prasad E (1997) Sectoral shifts and structural change in the Japanese economy: evidence and interpretation. Jpn World Econ 9(3):293–313CrossRef

Rowthorn RE, Wells JR (1987) De-industrialization and foreign trade. Cambridge University Press, Cambridge

Syrquin, M. 1988. Patterns of structural change. In Chenery, H. and T. Srinivasan eds. 1988. Handbook of development economics, 1 Amsterdam: North Holland

Uemura H, Tahara S (2014) The transformation of growth regime and deindustrialization in Japan. Revue de la Régulation 15(1)

Uemura H, Tahara S (2015) The theory of De-industrialization and realities in advanced countries: structural change and diversity. Polit Econ Q 51(4):18–33

Yoshikawa H (2003) Role of demand in macroeconomics. Japn Econ Rev 54(1):1–27CrossRef

Titel: Structural Change, Sectoral Disparity, and the Economic Growth Process in Japan
verfasst von: Hiroshi Nishi
Verlag: Springer Japan
Buch: Evolving Diversity and Interdependence of Capitalisms
Print ISBN: 978-4-431-55000-6

Electronic ISBN: 978-4-431-55001-3

Copyright-Jahr: 2018
DOI: https://doi.org/10.1007/978-4-431-55001-3_15

Springer Professional

Abstract

Bitte loggen Sie sich ein, um Zugang zu Ihrer Lizenz zu erhalten.

Sie haben noch keine Lizenz? Dann Informieren Sie sich jetzt über unsere Produkte:

Springer Professional "Wirtschaft+Technik"

Springer Professional "Technik"

Springer Professional "Wirtschaft"