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The Turning Point in the Japanese Economy

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  • Ryoshin Minami

Abstract

I. Statistical findings, 381; changes in the marginal productivity of labor in the subsistence sector, 381; changes in the wage rate in the subsistence sector, 384; relationship between the wage rate and marginal productivity in the subsistence sector, 387; elasticity of labor supply to the capitalist sector, 388; changes in the subsistence sector labor force, 390; concluding remarks, 394. — II. Examination of statistical studies by other writers, 395; comments on Fei-Ranis' conclusions, 395; comments on Jorgenson's conclusions, 398.— Appendix A: cross-sectional test of the marginal productivity theory, 400.— Appendix B: mathematical examinations of the changes in the capital-labor ratio, labor productivity, and the capital-output ratio, 401.

Suggested Citation

  • Ryoshin Minami, 1968. "The Turning Point in the Japanese Economy," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 82(3), pages 380-402.
    • Handle: RePEc:oup:qjecon:v:82:y:1968:i:3:p:380-402.
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    Cited by:

    1. Elena Bárcena‐Martin & Jacques Silber & Yuan Zhang, 2024. "Measures of Relative and Absolute Convergence and Pro‐poor Growth with an Illustration based on China (2010–2018)," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 32(2), pages 1-41, March.
    2. Iris Claus & Les Oxley & Yang Du & Cuifen Yang, 2014. "Demographic Transition And Labour Market Changes: Implications For Economic Development In China," Journal of Economic Surveys, Wiley Blackwell, vol. 28(4), pages 617-635, September.
    3. Elena Bárcena-Martin & Elena Jacques Silber & Yuan Zhang, 2019. "On the measurement of population weighted relative indices of mobility and convergence, with an illustration based on Chinese data," Working Papers 505, ECINEQ, Society for the Study of Economic Inequality.
    4. Dong, Qi & Murakami, Tomoaki & Nakashima, Yasuhiro, 2018. "Modeling the Labor Transfers from the Agricultural Sector to the Non-agricultural Sector under Food Supply Constraint in China," 2018 Annual Meeting, August 5-7, Washington, D.C. 274161, Agricultural and Applied Economics Association.
    5. Andrea Fracasso, 2015. "Economic Rebalancing and Growth: the Japanese experience and China’s prospects," DEM Discussion Papers 2015/07, Department of Economics and Management.
    6. Nazrul Islam & Kazuhiko Yokota, 2008. "Lewis Growth Model and China's Industrialization," Asian Economic Journal, East Asian Economic Association, vol. 22(4), pages 359-396, December.
    7. Minami, Ryoshin, 1970. "Further Considerations on the Turning Point in the Japanese Economy (I)," Hitotsubashi Journal of Economics, Hitotsubashi University, vol. 10(2), pages 18-60, February.
    8. Hao Qi, 2019. "Semi-Proletarianization in a Dual Economy: The Case of China," Review of Radical Political Economics, Union for Radical Political Economics, vol. 51(4), pages 553-561, December.
    9. Sakib Bin Amin & Farhan Khan & Mashiyat Rafa Khan & Jaahin Azam Oyishi, 2023. "The dual economy paradox: the case of Bangladesh and India," SN Business & Economics, Springer, vol. 3(9), pages 1-22, September.
    10. Tomoko HASHINO, 2021. "From Lyon to Kyoto: Modernization of a Traditional Silk-Weaving District in Japan, 1887–1929," Discussion Papers 2122, Graduate School of Economics, Kobe University.
    11. Kwan, Fung & Wu, Yanrui & Zhuo, Shuaihe, 2018. "Surplus agricultural labour and China's Lewis turning point," China Economic Review, Elsevier, vol. 48(C), pages 244-257.
    12. Fang Cai, 2015. "How to tackle the slowdown of potential growth rate in China?," China Finance and Economic Review, Springer, vol. 3(1), pages 1-12, December.
    13. CAI, Fang & DU, Yang, 2011. "Wage increases, wage convergence, and the Lewis turning point in China," China Economic Review, Elsevier, vol. 22(4), pages 601-610.
    14. Yuan Zhang & Ting Shao & Qi Dong, 2018. "Reassessing the Lewis Turning Point in China: Evidence from 70,000 Rural Households," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 26(1), pages 4-17, January.
    15. repec:ilo:ilowps:159895 is not listed on IDEAS
    16. Ge, Suqin & Yang, Dennis Tao, 2011. "Labor market developments in China: A neoclassical view," China Economic Review, Elsevier, vol. 22(4), pages 611-625.
    17. Minami R. & Ono A., 1975. "Population change and economic growth; a long-term econometric model of the Japanese economy," ILO Working Papers 991598953402676, International Labour Organization.
    18. Esteban-Pretel, Julen & Sawada, Yasuyuki, 2014. "On the role of policy interventions in structural change and economic development: The case of postwar Japan," Journal of Economic Dynamics and Control, Elsevier, vol. 40(C), pages 67-83.
    19. Golley, Jane & Meng, Xin, 2011. "Has China run out of surplus labour?," China Economic Review, Elsevier, vol. 22(4), pages 555-572.
    20. A. Ford Ramsey & Tadashi Sonoda & Minkyong Ko, 2023. "Intersectoral labor migration and agriculture in the United States and Japan," Agricultural Economics, International Association of Agricultural Economists, vol. 54(3), pages 364-381, May.
    21. Ramsey, A. Ford & Sonoda, Tadashi & Ko, Minkyong, 2021. "Aggregation and Threshold Models of Intersectoral Labor Migration: Evidence from the United States and Japan," 2021 Conference, August 17-31, 2021, Virtual 315110, International Association of Agricultural Economists.
    22. Tomoko Hashino & Keijiro Otsuka, 2013. "Hand looms, power looms, and changing production organizations: the case of the Kiryū weaving district in early twentieth-century Japan," Economic History Review, Economic History Society, vol. 66(3), pages 785-804, August.
    23. Deng, Liuchun & Fujio, Minako & Lin, Xin & Ota, Rui, 2023. "Labor shortage and early robotization in Japan," Economics Letters, Elsevier, vol. 233(C).

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