The purpose of our study is to identify the sources of economic growth based on a KLEMS model for Japan and Korea. We also identify the growth contribution of ICT assets and resource reallocation effects in the two economies. Both Japan and Korea enjoyed high TFP growth in ICT-producing sectors...

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,...

Constructing thirty-seven industries database, we examines whether measured productivity in Japan is procyclical and investigates the sources of that procyclicality using the production function approach employed by Hall (1990) and Basu and Fernald (1995). At the aggregate level, the measured...

This paper surveys the role of technological developments in Japanese environmental problems. After summarizing the brief history of Japanese pollution problems, we examine effects of regulations and investment for pollution control. In Japanese case, pollution control regulations promoted...

The purpose of this paper is to measure intangible assets, to construct the capital stock of intangible assets, and to examine the contribution of intangible capital to economic growth in Japan. We follow the approach of Corrado, Hulten, and Sichel (2005, 2006) to measure intangible investment...