Convergence and Divergence over the Growth Paradigm: The OECD Working Party 2 and the Japanese “Doubling National Income Plan” (1961–70)

Kazuhiko Yago

Revue économique, 2020, vol. 71, issue 4, 697-713

Abstract: The Japanese growth was driven under continuous plans, of which the most famous was the ?Doubling National Income Plan? (1961?70). This paper tries to reconstruct the visions proposed and debated over the Plan among the Japanese officials and the OECD, especially its Working Party 2. Facing the balance of payments deficit and uneven growth, the above actors proposed more deliberate views on the growth planning. However, the Japanese growth exceeded the initial plan, as has been predicted by an economist, Osamu Shimomura. The ?growth paradigm? in Japan at the beginning of the 1960s had been a balanced one, but sooner or later it encountered the ?transformation period? towards stronger investment with inflation. JEL Codes: B22, E61, N15, O43, P11.

Keywords: OECD; Working Party 2; economic growth; Japan; economic planning; growth paradigm (search for similar items in EconPapers)
JEL-codes: B22 E61 N15 O43 P11 (search for similar items in EconPapers)
Date: 2020
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