Essay about Japanese Malaise - 793 Words

THE IMPACT OF SUPPLY-SIDE FACTORS ON JAPANESE ECONOMIC STAGNATION Japan’s ongoing economic stagnation for decades has provoked wider debate in the US. Along with the raise in unemployment rate and weak industrial production relative to other major industrial countries, the economic malaise in Japan was described as a lost decade. Studies have shown that Japanese economy suffers of severe problems that are not only cyclical but also structural in nature. In this paper, I will shed light on the major cause of the prolonged slowdown of the Japanese economy by analyzing the impact of supply-side factors, including the decline in total factor productivity (TFP) and Japan’s aging population.†¦show more content†¦In the 1970s-1980s, total fertility rate in Japan fell below replacement levels, resulting in young labor shortage. Of the sharp slowdown in real GDP growth since the early 1990s, half is contributed by a drop in labor input. Between 1983-1991 and 1991-1998, the Japan Industrial Productivity (JIP) Database reports that Japa n’s real GDP declines 2.69 percentage-points. Fukao, Inui, Kawai, Miyagawa (2004) demonstrate that the combined effect of 0.79 and 0.25 percentage-point slowdowns in growth of working-age population and in labor quality have reduced Japan’s balanced growth rate by 1.04 percentage points. In hopes of placing Japanese economy back on a stable growth path, my suggestion is to make adjustments that affect job securities among employees, increasing economic certainties among married Japanese couples and stimulating their fertility decisions. In addition, women at their reproductive age should be supported in taking childcare leaves. Substituting labor-saving technology and better utilizing older workers are possible ways of coping with Japan’s labor shortage. To revive the economic growth, regulatory changes allow banks to classify restructured Small- and Medium-Sized Enterprises’ (SME) loans â€Å"normal† if a company demonstrates its ability to make the loan perform from five to ten years. Low productivity growth and shrinking working ageShow MoreRelatedSnow Falling on Cedars1700 Words   |  7 Pagesin war allows him to become a close-minded and racist individual, â€Å"Horace had served as a medical officer for twenty months in the Pacific theater and had suffered in that period from sleep deprivation and from a generalized and perpetual tropical malaise that had rendered him, in his own mind, ineffective† (Guterson 46). After the morning recess, Horace Whaley swears softly on the courtroom bible and edges his name into the witness box. As he nestles in, preparing for his questions, the narrator providesRead MoreCase Analysis: Japans Economic Malaise Essay1760 Words   |  8 Pagesï » ¿ CLOSING CASE for week two Case Analysis: Japans Economic Malaise Review the Japans Economic Malaise Case Study at the end of Chapter 3 of the Hill text. Answer the five Case Discussion questions in a Word document and submit your responses to the Week 2 Course Dropbox. You will find at the end of chapter 3 starting on p.95 in our electronic e-Book in the classroom. Japan’s Economic Malaise In 1989 Japan was widely viewed as an economic super-power. After three decades of robust economicRead MoreEssay on John Herseys Hiroshima723 Words   |  3 Pagesbook upon the one perspective that, the bombing of Hiroshima was an act of inhumanity. What Hersey failed to do was to give the perspective of the Americans. Hersey did not account for the Pearl Harbor bombing of 1941 or the death march in the Japanese Bataan Camps in 1942. 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