Journal article

Profitability and growth in multiregion systems: Interpreting the growth of Japan

M Webber

Environment and Planning A | Published : 1998

Abstract

This paper reports calculations about reasons for the exceptional growth of Japan and for the slowdown in growth in the OECD since the early 1970s. The calculations are based on a multiregion off-equilibrium dynamic model of the two regions. It is argued that the exceptional rate of growth of Japan can be ascribed primarily to the fact that it has invested more of the OECD's capital than would be predicted simply on the basis of the relative capital stocks in the two regions; the fact that Japan's target rate of expansion of supply has fer exceeded that of the rest of the OECD (ROECD), and, to a lesser extent, the fact that labour has been replaced in production faster in Japan than in the R..

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University of Melbourne Researchers

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