A Long-Term Survey of Japan's Prewar Growth Process

Takafusa Nakamura

Japanese Economy, 1972, vol. 1, issue 1, 49-98

Abstract: Due to new opportunities presented after World War II, the world economy achieved rapid growth, and with this growth, theoretical and empirical analysis of economic growth has emerged as one of the key tasks of economic analysis. In Japan, also, long-term statistics have begun to be compiled, and attempts have been made to examine the process of economic growth since the Meiji era. In this introductory chapter, we will study some of these long-term statistics and examine their implications. This study is being presented first because we wish to show that some of what has passed as conventional wisdom is due for a reexamination, for a number of "facts" about the Japanese economy from the Meiji era to the Pacific war have had to be revised on the basis of newly obtained data, and new "facts" which were overlooked before have been discovered. Also, if these new facts are established as such, it will be necessary to present a set of hypotheses that can provide a systematic explanation for them. To point this out is another objective.

Date: 1972
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DOI: 10.2753/JES1097-203X010149

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