Breton, Theodore R. - 2014
I use a dynamic Solow growth model, augmented with human capital, labor-hours, and oil prices, to show that Japan …’s growth in GDP/adult over 1969-2007 can be explained as a process of convergence to a world steady-state rate of 1%/year. I …, which raised the annual growth rate by 1.8% in 1969, but by only 0.6% in 2007. I also show that redirecting national …