(영어)일본경제성장

목차

1.Japan’s Economic Growth
2.Japan’s GDP Growth Rate
3.Japan’s Economic Growth
4.JAPAN’S ECONOMIC MIRACLE
5.ELEMENTS OF JAPANESE MIRACLE
6.Korean War (1950 - 1953)
7.Korean War Boom
8.Government-Firm relationship
9.Export Led Economy
10.General Equation
11.How Japanese Industry became successful?
12.Mass Production System
13.High saving rates
14.Lifetime Employment,Seniority-wage system

본문내용

Rapid-Growth Period and the ‘Dual Structure’
The Japanese economy eventually entered an economic growth process with positively reinforcing feedback: demand expansion—production expansion—increases in income—consumption expansion—further income expansion—increases in savings—-investment growth and an expansion of production capacity. The rapid growth period from the late 1950s to1960s was thus created. From 1955 to 1972, the Japanese real GDP grew by an annual average rate of 9.3%.
This virtuous cycle particularly benefited big businesses in heavy industries such as metal, chemicals, energy and machinery. Scarce funds were preferentially allocated to industries with a lower capital cost. On the other hand, although lower prices of capital goods as a result of the massive investment in machinery industries partly facilitated investments, small businesses and consumer-goods and services sectors suffered from shortages of investment funds.
This scheme was often criticized as having overly-favored key industries and big businesses. However, this strategy was generally accepted by most Japanese as a ‘trickle-down approach’ to raise incomes and living standards in Japan. In forming this consensus, government’s medium-term economic plans, particularly the National Income Doubling Plan of 1960, contributed significantly.
Although it was generally a big success, this approach also created the problems associated with ‘dual structure’. A world of difference in productivity, wages and in other working conditions emerged between the favored industries and those that were not. There was a big gap in competitiveness between heavy industries and big businesses on one hand, and consumer-goods and service-related sectors on the other. The cause of poor performance in the latter sectors was twofold: a shortage of investments and a lack of market competition. Even today, this continues to be a major challenge to the Japanese economy in the process of major structural reforms.

참고 자료

Joseph E. Stiglitz, ‘Rethinking the East Asian Miracle’, World Bank Publications, 2000
山本辻、‘日本経済論’、大明社、1996