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This paper explores the causal relationship between real exports and GDP growth in Japan using two recently developed causal modelling approaches. Using Japanese time series, the paper employed the augmented VAR methodology developed by Toda and Yamamoto to test for Granger non-causality. Then, a more recently developed technique of directed acyclic graphs (DAG) was also used in providing over-identifying restrictions on the innovations from a vector autoregression (VAR). In contrast to prior analyses, the application of DAG techniques allows for the examination of both contemporaneous and dynamic causal structure of the exports-productivity nexus. The empirical results reveal that the causal path between exports and GDP growth in Japan is bi-directional. Furthermore, other variables such as capital and foreign output are also significant determinants of productivity growth in Japan. [ABSTRACT FROM AUTHOR]

Using industry- and micro-level data, this paper examines why Japan's productivity growth has been slow for such a long time and how it can be accelerated in the future. Japan's capital-gross domestic product ratio continued to increase after 1991, and this increase in the capital-gross domestic product ratio must have contributed to the decline in the rate of return on capital in Japan by decreasing the marginal productivity of capital. On the other hand, Japan's accumulation of information and communication technology capital and intangible investment was very slow. Compared with large firms, which enjoyed an acceleration in the total factor productivity growth in recent years, Japanese small- and medium-sized enterprises were left behind in information and communication technology capital and intangible investment, and their productivity growth has been very low. Furthermore, as large firms expanded their supply chains globally and relocated their factories abroad, research and development spillovers from large firms to small- and medium-sized enterprises seem to have declined. [ABSTRACT FROM AUTHOR]

In this paper, we present data on recent trends in private consumption and in possible determinants of private consumption (such as GDP, household incomes, household saving rates, household wealth, and employment conditions) in the group of seven (G7) countries and find that there has been significant variability among the G7 countries not only in their private consumption growth rates but also in the determinants of private consumption growth during the 2002–2007 period. With respect to Japan, we find that private consumption has been relatively stagnant during the 2002–2007 period and that the stagnation of private consumption has been due to the stagnation of household income and of household wealth and the relative stability of the household saving rate. [ABSTRACT FROM AUTHOR]

The aim of this paper is to define low carbon society (LCS) based on the phase diagram with the variables from the IPAT [Human Impact (I) on the environment equals the product of population (P) affluence (A) and technology (T)], starting from the problem definitions: (1) Economy is not everything for LCS and (2) it is not clear if speed on the constraint is more important than liberation from it. To tackle these problems, two research questions are set: (1) What are the basic indicators, objects, and constraints to shape the argument of LCSs and (2) what are the historical paths of several countries and what can be said for their future paths toward carbon societies? Time series data from 1900 or before are used, while the phase diagram with the variables from the IPAT equation is used as the core methodology. In addition to the IPAT variables, the importance of land per capita shall be considered as another basic indicator for LCS related to the carrying capacity. The three different kinds of objects [i.e., total gross domestic product (GDP), GDP per capita, and social indicator] and the two constraints (i.e., total emission and emission per capita) are considered, and it is shown that the combination of these objects and constraints strongly affects the argument of the carrying capacity of climate and land, development of economic system and economic man, and other human developments. Among the four cases analyzed in the phase diagram, the case where GDP per capita is object and total emission is constraint is given the most attention and requires the further research in the future since it does not contradict with a definition of LCS. It is also suggested that if changing the direction of the path with low carbon technology development takes time and cost, institutional arrangement would be additionally necessary in addition to market mechanism where optimal solutions are found on constraint. [ABSTRACT FROM AUTHOR]

This paper argues that a fundamental failing in the debate on the decline of American economic power is not taking globalization seriously. With the rise of transnational corporations ( TNCs), transnational modular production networks, and the globalization of corporate ownership, we can no longer give the same relevance to national accounts such as balance of trade and GDP in the twenty-first century as we did in the mid-twentieth. Rather, we must summon data on the TNCs themselves to encompass their transnational operations. This will reveal, for example, that despite the declining global share of United States GDP from 40% in 1960 to below a quarter from 2008 onward, American corporations continue to dominate sector after sector. In fact, in certain advanced sectors such as aerospace and software-even in financial services-American dominance has increased since 2008. There are no serious contenders, including China. By looking at the wrong data, many have failed to see that American economic power has not declined-it has globalized. [ABSTRACT FROM AUTHOR]

Purpose |!|#8211; The 9th S|!|#38;T Foresight for Japan has recently been completed. A key element of this Foresight is that S|!|#38;T is now expected to indicate solutions for broad social issues and global issues (climate change, etc.) including those that address Japan|!|#39;s most urgent challenges (e.g. energy, aging population). This mission-oriented foresight is novel for the Japanese, since prior foresight exercises have been done with a technology focus. This paper aims to address how the new view of foresight |!|#8211; as more than mere technical potentials |!|#8211; has resulted in several types of foresight impacts, which are noted in the main text.Design/methodology/approach |!|#8211; The 9th Delphi Survey involved two types of interdisciplinary perspectives related to Japan|!|#39;s social future (Safe, Secure, Cooperation and Collaboration) and 12 S|!|#38;T fields. The committees discussed what could emerge within 30 years and involved 26 domains of social expertise and 140 specialists.Findings |!|#8211; The 9th S|!|#38;T Foresight investigation consists of an integration of three foresight methods |!|#8211; Delphi survey, scenario writing, and capability of local regions for green innovation |!|#8211; regarding sustainable development. Each method provides clear messages, and has unique impacts.Originality/value |!|#8211; Overall, a major foresight impact has been to enable a broader view of innovation to prevail in this ninth foresight, where social-scenario insights and more socially adaptive policies complement the traditional S|!|#38;T focus developed by Delphi surveys 1-8. This shifted the policy discourse toward societal innovation from technical innovation. [ABSTRACT FROM AUTHOR]

This paper reviews the functioning of the Economic and Monetary Union over the first 4 years of its existence. Monetary policy is viewed as having been of the ‘inflation‐targeting’ type, but with a tendency towards delay and conservatism in adjustment, which may also reflect over‐optimistic output growth forecasts. The resulting pressure on the Stability and Growth Pact (SGP) illustrates the weakness in the ‘consensus view’ of the harmonious interaction of monetary, fiscal, and supply‐side policies, which requires policy in all three areas to be ‘correct’. In discussing reform of the SGP, a looser but still constraining form of fiscal agreement is advocated. The supply‐side and balance‐of‐payments issues involved in inter‐country adjustment also interact importantly with the SGP and are identified as key areas of difficulty in a still ‘immature’ monetary union, with separate labour‐market structures. Here the mechanisms for coordination are more or less absent. [ABSTRACT FROM PUBLISHER]

We investigate the size of primary balance that can be sustained and the change in public debt and physical capital under transition dynamics in the Japanese economy. For our investigation, we construct a simple overlapping generations model. We find that a large primary surplus, 13.8–18.7% of GDP, is needed to prevent the public debt-to-GDP ratio from diverging infinitely. We also show that even if the large primary surplus can be maintained, the Japanese economy faces a sharp reduction in physical capital from 191 to 70.0% of GDP on the transition path. [ABSTRACT FROM AUTHOR]

Copyright of Trakya University, Economics & Administrative Sciences Faculty E-Journal / Trakya Üniversitesi İktisadi ve İdari Bilimler Fakültesi E-dergi is the property of T.C. Trakya Universitesi and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This paper discusses the determinants of Japan's declining fertility rate from 1973 to 2008. We examine various economic factors: GDP per capita, infant mortality rates, female labour participation, cost of education, and urbanization and find that these variables are cointegrated. We discover that GDP per capita has a negative relationship with fertility rates and a 1% increase in GDP per capita leads to a decrease in fertility by 2.1%. In addition, we discover that female labour participation shows an unexpected positive relationship to fertility suggesting that their financial contribution to the family has lowered the cost of child rearing. [ABSTRACT FROM AUTHOR]

The article discusses whether Abenomics has succeeded in increasing Japan's inward foreign direct investment (FDI). Topics discussed include the impact of domestic policies and changes in corporate tax rate in other countries on the growth of inward FDI stock, uncertainty about the existence of inward FDI in Japan, and assumption regarding a constant trend growth rate for the FDI stock to gross domestic product ratio.

The article discusses the low inward foreign direct investment (FDI) in Japan after taking into account its size and geographical or cultural distance from potential investors. Topics discussed include an empirical assessment of the impact of Abenomics on Japan's ability to attract inward, the gains for Japan from investment in its sluggish service sector, and a disconnect between the conditions amenable to policy intervention.

Purpose: Depression is a leading cause of disability worldwide. Research suggests that by far, the greatest contributor to the overall economic impact of depression is loss in productivity; however, there is very little research on the costs of depression outside of Western high-income countries. Thus, this study examines the impact of depression on workplace productivity across eight diverse countries.Methods: We estimated the extent and costs of depression-related absenteeism and presenteeism in the workplace across eight countries: Brazil, Canada, China, Japan, South Korea, Mexico, South Africa, and the USA. We also examined the individual, workplace, and societal factors associated with lower productivity.Results: To the best of our knowledge, this is the first study to examine the impact of depression on workplace productivity across a diverse set of countries, in terms of both culture and GDP. Mean annual per person costs for absenteeism were lowest in South Korea at $181 and highest in Japan ($2674). Mean presenteeism costs per person were highest in the USA ($5524) and Brazil ($5788). Costs associated with presenteeism tended to be 5-10 times higher than those associated with absenteeism.Conclusions: These findings suggest that the impact of depression in the workplace is considerable across all countries, both in absolute monetary terms and in relation to proportion of country GDP. Overall, depression is an issue deserving much greater attention, regardless of a country's economic development, national income or culture. [ABSTRACT FROM AUTHOR]

The article discusses Japanese Prime Minister Abe Shinzo's reported efforts to show that Japan is a first-tier nation as of April 2014, focusing on Shinzo's defense policies and his Abenomics program which is designed to spark an economic rejuvenation in Japan. According to the article, Japan's economy has rebounded and defense spending has increased as of 2014. Japanese diplomacy, the Bank of Japan, and the country's gross domestic product (GDP) are also assessed. Japan's relationships with China and South Korea are also examined.

This article discusses the declining state of the government in Japan in 2011 under the leadership of the Democratic Party of Japan (DPJ). Topics include the dramatic effects of the March 3, 2011 Fukushima earthquake on the economy and gross domestic product (GDP), the chronic deflation problems that have pushed the government debt as a percentage of GDP to over 200 percent, and the intraparty politics and structure of the DPJ as it faces pressures from the Liberal Democratic Party (LDP) and the New Komeito Party.

The world economy grew strongly again in the first half of the year 2000. Up to the summer, economic activity was not noticeably dampened by the sharp increase in the price of oil since the beginning of 1999. In particular, the upturn in the USA persisted. Demand and output also expanded significantly in western Europe, while Japan showed marked production growth once again. World trade grew dynamically in the course of the significant upturn in the world economy. However, growth now appears to have passed its peak. A number of early indicators suggest that the dampening effects of a tighter monetary policy and the significantly higher oil price are now gaining the upper hand. The increase in oil prices continued this year, in contrast to the expectations of the Institutes this spring. After the price per barrel had risen from around 10 US-dollars at the beginning of 1999 to approximately 25 US-dollars in spring 2000, it rose again to up to 35 US-dollars this autumn. The increased price of oil imports in Japan has been alleviated by the appreciation of the yen, and the increase in the oil bill is similar to that in the USA. The industrial sector is hit harder in Japan than private households, because private petroleum consumption is lower in Japan than in the other industrialised countries.

Copyright of Kyklos is the property of Wiley-Blackwell and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)