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Was Japanese Growth Export-Led?

Abstract:
In three periods of its modern economic history (1913-37, 1952-73, and 1973-90), Japan grew up to twice as rapidly as did other major industrialized countries. This paper investigates whether growth in these years was export-led. The results of five very different tests suggest that domestic forces rather than foreign demand propelled longer-run growth. This was particularly so in the high-growth period of 1952-73. Exports may, however, have been crucial in initiating several cyclical upswings.

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Journal:
Oxford Economic Papers
Volume:
48
Publication date:
1996-01-01
URN:
uuid:fb7e45ad-8c39-4812-a0e7-d2814d7b8ec0
Local pid:
oai:economics.ouls.ox.ac.uk:12788

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