By IFO Institute for Economic Research Sakura Institute ofResearch Japan
The objective of this booklet is to judge effectively financial improvement mechanism and to extract helpful classes from a comparability of the industrial improvement of Japan and that of Germany. The e-book covers an intensive variety of financial matters: (1) macro-economic elements: capital, hard work, expertise; (2) macro-economic rules: monetary, financial, commercial; (3) exterior shocks to either economies: oil crises, alternate expense fluctuations, environmental difficulties; (4) improvement tactics of significant industries: metal, chemical substances, and cars. The analyses with this systematic and entire technique offer precious insights for the overall reader in addition to guidance for constructing international locations and for japanese eu nations in transition.
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Extra resources for A Comparative Analysis of Japanese and German Economic Success
Phases of Economic Development 43 1992. The value added furnished by mining industries expanded strongly up to around 1970, but since then has demonstrated slow growth. Construction's contribution followed much the same pattern, growing at a brisk 10% or so up to 1970, but slowing down in later years (excluding the bubble economy period). The secondary industry accounted for just under 20% of total value added at the end of the war. However, as manufacturing output recovered, that share later expanded at a double-digit rate, eventually outpacing the primary-industry share to become the largest in GNP.
It is evident that the decline of the index of industrial production in West Germany, from 100 in 1938 to 28 in 1946, is not only more than twice the decline of the German index from 1913 to 1921; the decline in West Germany exceeds by far the declines in the rest of Europe, where the index is around 90 in the year 1947. More precise data on industrial production in European countries has since been forwarded (Abelshauser, 1975; Wolf, 1993; Paque, 1994), but the general trends found by Mendershausen do not change.
1. Trends in post-war economic growth In general, the stages of a nation's economic development can be defined and examined in terms of different rates of growth or in terms of changes in the key factors of economic influence. Interestingly, in the case of post-war Japan, either approach tends to result in closely overlapping divisions. Consequently, the stages of development are tentatively defined here as set out below, and Japan's pattern of economic growth will be reviewed with attention to the qualitative and quantitative dimensions of each transition.
A Comparative Analysis of Japanese and German Economic Success by IFO Institute for Economic Research Sakura Institute ofResearch Japan