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Economic Slowdown in Japan and the Role of Intangible Assets on the Revitalization of the Japanese Economy

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  • Tsutomu Miyagawa

Abstract

The Japanese economy has stagnated since the economic bubble collapsed in 1990. The paper points out two reasons for the long-term stagnation of the Japanese economy: the slow growth in capital accumulation including ICT assets and the decline of entrepreneurship. In the advanced countries, intangible assets play a crucial role in the growth at the aggregate and firm levels. To revitalize the Japanese economy, we need policies which promote accumulation in intangible assets.

Suggested Citation

  • Tsutomu Miyagawa, 2011. "Economic Slowdown in Japan and the Role of Intangible Assets on the Revitalization of the Japanese Economy," Global COE Hi-Stat Discussion Paper Series gd10-162, Institute of Economic Research, Hitotsubashi University.
    • Handle: RePEc:hst:ghsdps:gd10-162
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    File URL: http://gcoe.ier.hit-u.ac.jp/research/discussion/2008/pdf/gd10-162.pdf
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    References listed on IDEAS

    as
    1. Mauro Giorgio Marrano & Jonathan Haskel & Gavin Wallis, 2009. "What Happened To The Knowledge Economy? Ict, Intangible Investment, And Britain'S Productivity Record Revisited," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 55(3), pages 686-716, September.
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    Cited by:

    1. Yi‐Chi Hsiao & Mei‐Lan Lo & Chia‐Ling Lin & Hui‐Lin Lin, 2021. "Portfolio of Intangible Investments and Production and Innovation Performance: Evidence from Taiwanese Manufacturing Firms," Asian Economic Journal, East Asian Economic Association, vol. 35(4), pages 345-362, December.

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    More about this item

    Keywords

    bubble; non-performing loans; ICT investment; MFP; intangible investment;
    All these keywords.

    JEL classification:

    • E01 - Macroeconomics and Monetary Economics - - General - - - Measurement and Data on National Income and Product Accounts and Wealth; Environmental Accounts
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • O50 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - General

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