TY - JOUR
T1 - Political and economic opening as a post-crisis strategy for Japan
AU - Andreosso-O’callaghan, Bernadette
AU - Jaussaud, Jacques
AU - Zolin, M. Bruna
N1 - Publisher Copyright:
© 2017, Transition Academia Press. All Rights Reserved.
PY - 2017
Y1 - 2017
N2 - In economics literature, the sources of economic growth in general and in Japan in particular have been appraised either from the supply-side, with the emphasis on capital accumulation, labour, total factor productivity and – given the advent of the new growth models – on technological change, or from the demand side. The study on Japanese growth by Chenery et al. (1962) was an early demand-based study that looked at the drivers of economic growth and structural change over the period 1914-1954. Using input-output methods and taking into account the contribution of technological change11 over this long-time period, the authors found two distinct early sub-periods of economic growth: the 1914-1935 and the 1935-1954 sub-periods. The first (1914-1935) is characterised by a rise in domestic income (by 4.5 per cent per annum) with large increases in exports. The second (1935-1954) is marked by the loss of colonial supplies of raw materials and by a substantial fall in exports; this second sub-period is also marked by import substitution policies and by the rising importance of technological change. The findings for the first sub-period mirror Japan’s emergence as an economic and geostrategic power, affirming first its colonial ambitions in East-Asia through the development of its many manufacturing networks, in the region as a whole and in Korea in particular (Inkster, 2001).
AB - In economics literature, the sources of economic growth in general and in Japan in particular have been appraised either from the supply-side, with the emphasis on capital accumulation, labour, total factor productivity and – given the advent of the new growth models – on technological change, or from the demand side. The study on Japanese growth by Chenery et al. (1962) was an early demand-based study that looked at the drivers of economic growth and structural change over the period 1914-1954. Using input-output methods and taking into account the contribution of technological change11 over this long-time period, the authors found two distinct early sub-periods of economic growth: the 1914-1935 and the 1935-1954 sub-periods. The first (1914-1935) is characterised by a rise in domestic income (by 4.5 per cent per annum) with large increases in exports. The second (1935-1954) is marked by the loss of colonial supplies of raw materials and by a substantial fall in exports; this second sub-period is also marked by import substitution policies and by the rising importance of technological change. The findings for the first sub-period mirror Japan’s emergence as an economic and geostrategic power, affirming first its colonial ambitions in East-Asia through the development of its many manufacturing networks, in the region as a whole and in Korea in particular (Inkster, 2001).
KW - Economic growth
KW - Energy production
KW - Japan
KW - Labour market
KW - Population
KW - Technological change
KW - Trade balance
UR - http://www.scopus.com/inward/record.url?scp=85043453598&partnerID=8YFLogxK
U2 - 10.14665/1614-4007-24-2-001
DO - 10.14665/1614-4007-24-2-001
M3 - Article
AN - SCOPUS:85043453598
SN - 1614-4007
VL - 24
SP - 3
EP - 5
JO - Transition Studies Review
JF - Transition Studies Review
IS - 2
ER -