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Structural Changes and Economic Growth: Evidence from Japan

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  • Kengo Nutahara

    (University of Tokyo and JSPS research fellow)

Abstract

In this paper, we introduce an index of structural changes of the economy, and investigate the relationship between economic growth and structural changes in the Japanese economy We find that (i) there is no clear relationship between structural changes and business cycles in the short run however, (ii) the long run movements of structural changes are positively correlated with economic growth. In the short run, our result is consistent with the neoclassical view it is also consistent with the Schumpeterian view of economic growth in the long run.

Suggested Citation

  • Kengo Nutahara, 2008. "Structural Changes and Economic Growth: Evidence from Japan," Economics Bulletin, AccessEcon, vol. 15(9), pages 1-11.
    • Handle: RePEc:ebl:ecbull:eb-08o00005
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    References listed on IDEAS

    as
    1. Aghion, Philippe & Howitt, Peter, 1992. "A Model of Growth through Creative Destruction," Econometrica, Econometric Society, vol. 60(2), pages 323-351, March.
    2. Masanao Aoki & Hiroshi Yoshikawa, 2004. "Demand saturation – creation and economic growth," Chapters, in: Paolo Onofri (ed.), The Economics of an Ageing Population, chapter 4, Edward Elgar Publishing.
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    JEL classification:

    • E0 - Macroeconomics and Monetary Economics - - General

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