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Journal Global Policy and Governance

Abstract : Political an d Economic Opening as a Post-Crisis Strategy for Japan : 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)
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https://hal-univ-pau.archives-ouvertes.fr/hal-01880232
Contributor : Gaelle Chancerel-Lannuzel <>
Submitted on : Monday, September 24, 2018 - 4:11:01 PM
Last modification on : Thursday, March 5, 2020 - 7:10:29 PM

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  • HAL Id : hal-01880232, version 1

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Bernadette Andreosso O'Callaghan, Jacques Jaussaud, Maria Bruna Zolin. Journal Global Policy and Governance. 6 (2), 2017, Special Issue Japan. ⟨hal-01880232⟩

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