Braun, R. Anton; Okada, Toshihiro; Sudou, Nao - Bank of Japan - 2006
In the thirty year period between 1960 and 1990 Japan saw labor productivity rise from a level of 27 percent of the U.S. to 87 percent of the U.S. This development miracle can be explained by an initial low capital stock and measured variations in TFP. These facts motivate our investigation into...
