Plant Turnover and TFP Dynamics in Japanese Manufacturing

Kyoji Fukao, 京司 深尾, キョウジ フカオ, YoungGak Kim () and Hyeog Ug Kwon

No 2006-17, CEI Working Paper Series from Center for Economic Institutions, Institute of Economic Research, Hitotsubashi University

Abstract: This study analyzes the cause of the slowdown in Japan's TFP growth during the 1990s. Many preceding studies, examining the issue at the macro- or industry-level, have found that the slowdown was primarily due to the stagnation in TFP growth in the manufacturing sector. Using establishment level panel data covering the entire sector, we investigate the causes of the TFP slowdown and find that the reallocation of resources from less efficient to more efficient firms was very slow and limited. This "low metabolism" seems to be an important reason for the slowdown in Japan's TFP growth.

JEL-codes: O4 O53 (search for similar items in EconPapers)
Pages: 51 pages
Date: 2007-02
New Economics Papers: this item is included in nep-eff and nep-ent
Note: 38899
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https://hermes-ir.lib.hit-u.ac.jp/hermes/ir/re/13511/wp2006-17a.pdf

Related works:
Working Paper: Plant Turnover and TFP Dynamics in Japanese Manufacturing (2006)
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Persistent link: https://EconPapers.repec.org/RePEc:hit:hitcei:2006-17

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