By IFO Institute for Economic Research Sakura Institute ofResearch Japan
The goal of this e-book is to guage adequately financial improvement mechanism and to extract important classes from a comparability of the commercial improvement of Japan and that of Germany. The publication covers an in depth variety of financial concerns: (1) macro-economic elements: capital, hard work, expertise; (2) macro-economic rules: monetary, financial, business; (3) exterior shocks to either economies: oil crises, alternate fee fluctuations, environmental difficulties; (4) improvement approaches of significant industries: metal, chemical substances, and cars. The analyses with this systematic and entire technique supply important insights for the final reader in addition to directions for constructing international locations and for japanese ecu international locations in transition.
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The purpose of this ebook is to guage safely monetary improvement mechanism and to extract helpful classes from a comparability of the commercial improvement of Japan and that of Germany. The e-book covers an in depth diversity of financial concerns: (1) macro-economic elements: capital, exertions, know-how; (2) macro-economic rules: monetary, financial, business; (3) exterior shocks to either economies: oil crises, trade fee fluctuations, environmental difficulties; (4) improvement strategies of significant industries: metal, chemical substances, and cars.
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Additional info for A Comparative Analysis of Japanese and German Economic Success
The relevant magnitude to analyse is potential output growth, assuming the full employment of factors and an orderly, efficient functioning of markets. However, war can have a negative impact on growth by both destroying factors of production, thus diminishing potential output, and by disorganising the efficient functioning of the economy, diminishing actual output below potential output. The first effect is a negative growth effect wherein the production possibility curve is shifted inward towards the origin; the second effect 2.
3. 7 billion at ¥360/dollar). 9 billion in the same year, 156 times as large as Japan's. In 1967 Japan surpassed the leading European economies of fonner West Gennany, France and Britain to assume its position as the world's second-largest economy after the US (ranking hereafter excludes the fonner Soviet Union and the countries of the Eastern bloc). In GDP terms, however, it still measured only one-seventh the scale of the US. Although two major oil shocks effectively blunted its growth rate in later years, Japan still managed to outpace the other leading industrial economies.
Immediate Post-war Situation 25 its industrial facilities, training technical personnel and acquiring up-to-date technology from advanced countries, Japan once again began to move towards industrialisation in the heavy and chemical sectors. The fourth element retained from pre-war days was the financial structure. During the war the government established the designated bank system and others in the name of national policy. This led to a transition from a system in which the business sector relied primarily on direct finance to one dominated by indirect finance supplied mainly through banks.