キム サンホ   KIM Sangho
  金 相鎬
   所属   立命館アジア太平洋大学  国際経営学部
   職種   教授
言語種別 英語
発行・発表の年月 2015/08
形態種別 論文(学術誌・プロフェショナル誌)
査読 査読あり
標題 Returns to Scale, Markup and Total Factor Productivity for the Japanese Manufacturing Industry
執筆形態 コレスポンディング
掲載誌名 Korea and the World Economy
巻・号・頁 16(2),pp.195-222
著者・共著者 Keunjae Lee
概要 This study utilizes industrial panel data for the Japanese manufacturing industry to decompose the Solow residual into scale economies, markup effects, and technical change. Empirical results show that the economic growth during 1970-85 was driven mostly by scale economies resulting from large capital investments rather than by pure technological progress. The results also indicate that productivity growth started to decline in 1985 when manufacturers tried to contest eroding price competitiveness with economies of scale, which is much earlier than implied by the original Solow residual. Furthermore, sectoral estimation suggests that productivity grew much faster in the high-growth sector than in the low-growth sector, suggesting that international competition caused the high-growth sector to be more efficient than the low-growth sector.
ISSN 2234-2346