Structural Changes and Economic Growth: Evidence from Japan

Kengo Nutahara

Economics Bulletin, 2008, vol. 15, issue 9, pages 1-11

Abstract: In this paper, we introduce an index of structural changes of the economy, and investigate the relationship between economic growth and structural changes in the Japanese economy We find that (i) there is no clear relationship between structural changes and business cycles in the short run; however, (ii) the long run movements of structural changes are positively correlated with economic growth. In the short run, our result is consistent with the neoclassical view; it is also consistent with the Schumpeterian view of economic growth in the long run.

Keywords: Schumpeterian; neoclassical; structural changes; economic growth; Japan (search for similar items in EconPapers)
JEL-codes: O0 E0 (search for similar items in EconPapers)
Date: 2008-06-23

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Persistent link: http://EconPapers.repec.org/RePEc:ebl:ecbull:v:15:y:2008:i:9:p:1-11

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