Problems of economic growth in Japan: from 'economic miracle' to protracted recession.

• Authors: Simon Gy. , Simon Gy. Jr
• Languages of publication: HU

Abstracts

EN

The study addresses the Japanese puzzle: the protracted period of exceptionally fast economic growth known as the Japanese economic miracle, and the very sharp fall in the growth rate and protracted recession that followed it. The authors prove with an endogenous growth model that no economic miracle occurred in Japan either: the very strong growth occurred in accordance with the general rules of economic development. The main cause of the protracted recession, according to the authors' findings, was the exchange-rate shock of the mid-1980s, based on international agreement, which slowed the hitherto exceptionally speedy expansion in Japan's exports, so applying a sharp brake on the main factor behind the rapid growth. The authors have devised a model that explains the export tendencies as a function of exchange rates and terms of foreign trade.

Keywords

EN

GROWTH RATE & PROTRACTED RECESSION; JAPANESE ECONOMIC MIRACLE

Discipline

• ECONOMICS: ECONOMICS

• Publisher: Committee for Economic Sciences of the Hungarian Academy of Sciences
• Journal: Kozgazdasagi Szemle (Economic Review)
• Year: 2006
• Volume: 53
• Issue: 1
• Pages: 46-68
• Document type: ARTICLE

Contributors

author

Simon Gy.

author

Simon Gy. Jr

• Gy. Simon, no address given, contact the journal editor

Identifiers

CEJSH db identifier

07HUAAAA02986121