Discussion Paper No. 667 10 June 2006 The Institute of Social and Economic Research Osaka University 6-1 Mihogaoka, Ibaraki, Osaka 567-0047, Japan 10 2006 6 29 1990 GDP 1990 1990 567-0047 6-1 Tel.: 81-6-6879-8586 Fax: 81-6-6878-2766 email: horioka@iser.osaka-u.ac.jp 1. 1990 10 10 1995-2002 GDP G 3.4 3.2 2.7 1.8 OECD 5.3 – 2.9 3.3 3.8 OECD 2.7 1980-2003 GDP 1980-1991 1991-2003 1980-91 1       1 GDP 3.89 1991-2003 1.14 1980-1991 1 GDP 10 GDP 1990 1990 GDP 2 1.2 – 2.3 1.4 – 2.6 1 GDP 3 3 4 1 5 1990
1990
2. GDP
1991-2003 GDP GDP 1991-2003 12 8 GDP 1 2 1980-91 GDP 1991-2003 GDP 1.14 1.56 1991-2003 GDP GDP 6.39% GDP   6 3.22% GDP 3 1991-2003 -0.24% -0.59% -2.48% -0.14% 1980-91 1991-2003 1991-2003 85.40% 18.64% 13.07% -1.26% -4.35% -11.49% 81% 1991-2003 1980-91 1991-2003 1.14%  3.89% 1991-2003 1980-91 1.56% 3.59% 1980-91 1980-91 1991-2003 1991-2003 1980-91 1980-91 1991-2003 1991-2003 4 1991-2003 1980-91 1991-2003 85.40%  57.24% 1980-91 1980-91 1991-2003 1980-91 1991-2003 1980-91 1991-2003
1991-2003 45.58 1991 1991-2003 1980-91 2.75 2.03 5.60 0.32 1.09 6.70 4.92 7.59 1990 67.91% 36.34% 5.22% 3.84% 54.86% 13.05% 1990 1990 1980 1993 1990 1991-2003 1998 1991-2003 1980-91 3.32% 1 1991-2003
1991-2003 1.56% ___ 1 1990
2003 0.39%
1991-2003 1996-98 1991-2003 1991-2003
3.3% 12 (1991) Ginama (1988) (1999) (2001 2003) Murata 2003b (2003a 2003a Zhou (2003) 2003b) Horioka(2006) 1991-2003 2 1991-2003 Horioka (2006) Horioka (2001) (2001 2003) 1990 2002 5.5% 1990 1990 (2002) Posen (1998)  Bayoumi (2001) (2002 (2002) 2004) (2001) (2003) (2003) Hayashi and Prescott (2002) (2003 2004) Kawamoto (2004) Kobayashi and Inada (2005) s (2006) Hayashi and Prescott (2002) 1990 (TFP) 1988 1988-93 44 40 1996-98 Kawamoto (2004) 1990 TFP Kobayashi and Inada (2005) 1990 (2006) 1993 1990 1990 1980 (2004) Saxonhouse 1990 GDP 1990 1990 1980 1990 Hayashi and Prescott (2003) Hayashi and Prescott 1998-2001 1990 Horioka (2006) Bernadette Andreosso-O’Callaghan Anton Braun Robert Dekle Sheldon Garon Michael Hutchison Nazrul Islam Douglas Joines Dariusz Stanko Keunkwan Ryu Frank Westermann CESifo  Venice Summer Institute (VSI) Workshop on “Economic Stagnation in Japan” 2 12124207 of Ando, Saving and Albert (2002), “Missing Household Valuation Corporations: Inquiry into Japanese National Accounts I," Journal of the Japanese and International Economies, vol. 16, no. 2 (June), pp. 147-176. Albert; Christelis,  Dimitrios;  and Miyagawa, Tsutomu Ando, (2003), "Inefficiency of Corporate Investment and Distortion of Savings Behavior in Japan," in Magnus Blomstrom, Jennifer Corbett, Fumio Hayashi, and Anil Kashyap, eds., Structural Impediments to Growth in Japan (Chicago and London: The University of Chicago Press), pp. 155-190. Bayoumi, Tamim (2001), "The Morning After: Explaining the Slowdown in Japanese Growth in the 1990s," Journal of International Economics, vol. 53, no. 2 (April), pp. 241-259. Bernanke, Ben S. (2000), "Japanese Monetary Policy: A Case of Self-Induced Paralysis?" in Mikitani and Posen (2000), pp. 149-166. Blomstrom, Magnus; Corbett, Jennifer; Hayashi, Fumio; and Kashyap, Anil, eds. (2003), Structural Impediments to Growth in Japan (National Bureau of Economic Research Conference Report). Chicago, Illinois, U.S.A.: The University of Chicago Press. Callen, Tim, and Ostry, Jonathan D., eds. (2003), Japan's Lost Decade: Policies for Economic Revival. Washington, D.C., U.S.A.: International Monetary Fund.
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) Zhou, Yanfei (2003), “Precautionary Saving and Earnings Uncertainty in Analysis," Journal of the Japan: Household-level Japanese A and International Economies, vol. 17, no. 2 (June), pp. 192-212.
GDP

X GDP [X(t2) - X(t1)]*100/[GDP(t2)-GDP(t1)]
2004
2005 )
GDP GDP GDP
1980-2003

1996 2000 1996 0.7 2000 2006 ( )