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Author Ogawa, Kazuo, 1954- author

Title Japan out of the lost decade : divine wind or firms' efforts / prepared by Kazuo Ogawa, Mika Saito, and Ichiro Tokutsu
Published [Washington, D.C.] : International Monetary Fund, ©2012
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Description 1 online resource (40 pages)
Series IMF working paper, 2227-8885 ; WP/12/171
IMF working paper ; WP/12/171
Contents Cover; Contents; I. Introduction; Figures; 1. Export Contribution of GDP Growth Rate; 2. Japanese Export by Destination; II. Model; A. Export Behavior; Tables; 1. Average Annual Growth Rate of Export by Destination; B. Equilibrium Export Price; C. Role of External Finance to Exporters; III. Data Description; 3. Log of TFP by Year: General Machinery; 4. Log of TFP by Year: Electrical Machinery; 5. Log of TFP by Year: Transportation Equipment; 6. Price-Cost Margin by Year: General Machinery; 7. Price-Cost Margin by Year: Electrical Machinery
8. Price-Cost Margin by Year: Transportation Equipment9. Real Export by Year: General Machinery; 10. Real Export by Year: Electrical Machinery; IV. Estimation Results and Implications; A. Export Functions; 11. Real Export by Year: Transportation Equipment; 2. Estimation Results of Export Function (Panel IV Method); B. Price-Cost Margin Equation; 3. Estimation Results of Export Function (Simple Panel Method); C. Reverse Causality from Exports to Productivity; 4. Estimation Results of Price-Cost Margin Function; V. External Demand versus Productivity Gain; 5. Estimation Results of TFP Function
6. Contribution of Each Independent Variable to Export: 1999-2007VI. Concluding Remarks; Appendixes Data Appendix; Appendix Tables; A1. Descriptive Statistics by Year: General Machinery; A2. Descriptive Statistics by Year: Electrical Machinery; A3. Descriptive Statistics by Year: Transportation Equipment; References
Summary A surge of exports in the 2000s helped Japan exit the severe decade-long stagnation known as the lost decade. Using panel data of Japanese exporting firms, we examine the sources of the export surge during this period. One view argues that the so-called "divine wind" or exogenous external demand boosted Japanese exports. The other view emphasizes the role of supply factors such as productivity gains, materialized after long-fought restructuring efforts during the lost decade. Estimating the firm-level export function allows us to assess the relative importance of these demand and supply factors. Evidence shows that firms' efforts were more important than the divine wind
Notes Title from PDF title page (IMF Web site, viewed Jul. 11, 2012)
Bibliography Includes bibliographical references
Notes "Strategy, Policy, and Review Department."
"July 2012."
Subject Exports -- Japan
Industrial productivity -- Japan
BUSINESS & ECONOMICS -- Economics -- General.
Industrial productivity.
Business & Economics.
Economic History.
Form Electronic book
Author Saito, Mika, 1967- author
Tokutsu, Ichirō, 1953- author
International Monetary Fund. Strategy, Policy, and Review Department
ISBN 9781475590401