The IT revolution and productivity growth in Japan

Miyagawa, Tsutomu; Ito, Yukiko; Harada, Nobuyuki

doi:10.1016/j.jjie.2004.01.002

Cited by 12 publications

(4 citation statements)

References 28 publications

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“…Their presence lowers the industry's average productivity both directly by continuing to operate and indirectly by deterring entry of more productive firms. The productivity data here are from Miyagawa, Ito and Harada (2004) who study productivity growth in 22 industries. Figure 6, which plots the average growth of the total factor productivity (TFP) from 1990 to 2000 against the change in the crisp zombie index, shows that the data are consistent with the model's implication: the regression line in the figure confirms the visual impression that industries where zombies became more important were the ones where TFP growth was worst.…”

Section: The Effect Of Zombies On Job Creation Destruction and Produmentioning

confidence: 99%

Zombie Lending and Depressed Restructuring in Japan

Caballero

Hoshi²,

Kashyap

2008

American Economic Review

1,243

989

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Section: The Effect Of Zombies On Job Creation Destruction and Produmentioning

confidence: 99%

Zombie Lending and Depressed Restructuring in Japan

Caballero

Hoshi²,

Kashyap

2008

American Economic Review

1,243

989

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“…For initial benchmark of IT capital stock in 1980, we used the method employed by Miyagawa2004 [17] to estimate initial IT capital stock for both productive stock series and wealth stock series. K -11981 1980 (g+S) (6) Where is the average growth rate of investment in IT assets during the period from 1980 to 1985.…”

Section: Choice Of Parametersmentioning

confidence: 99%

Estimation of China's Productive Capital Stock from Information Technology Investment: during the Period from 1980 to 2003

Shi

2007

2007 International Conference on Management Science and Engineering

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One of the important issues focusing on information technology on China's economic growth is to capture the flow of the IT capital services from cumulative IT capital stock of past IT investments. IT capital stock in China has not been published at present, and there has been scarce research on estimating this type of stock for its investment data availability. This makes it impossible to carry out further research on IT contribution to China's economic growth. This paper challenges the problem by estimating China's IT productive capital stock during 1980-2003. By estimating China's IT wealth stock in the same period, this paper adds our understanding of cumulative patterns and growth trend of IT productive stock in China. Another contribution of the paper is that we have constructed price indices for investment of IT assets based on the method called 'harmonized deflator', which has not been investigated in China previously. We used the price indices to deflate nominal investment in IT assets to estimate both IT productive stock and IT wealth stock. Our results indicate that IT productive stock has been accumulated much faster than IT wealth stock has done, while both of them have been rising sharply in China since 1980.

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“…For our analysis, we need industry-level quarterly data. While the Japan Industry Productivity Database (JIP Database) (Fukao et al, 2003) and the Japan Center for Economic Research Database (JCER Database) (Miyagawa et al, 2004) provide industry-level statistics, these are released on an annual basis and it is therefore difficult to examine business cycles. Hence, we construct a new industry-level quarterly data set, relying primarily on the Financial Statements Statistics of Corporations (FSSC) published by the Ministry of Finance.…”

Section: Data Appendixmentioning

confidence: 99%

Productivity and Business Cycles in Japan: Evidence From Japanese Industry Data*

2006

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Constructing a database of 37 industries, we examine whether the measured productivity in Japan is pro-cyclical and investigate the sources of this pro-cyclicality by using the production function approach employed by Hall (1990) and Basu and Fernald (1995). The aggregate Solow residual displays pro-cyclicality. A large number of industries show constant returns to scale. No significant evidence for the presence of thick-market externalities is found. Our results also hold when we consider labour hoarding, part-time employment, and the adjustment cost of investment. The results indicate that policies to revitalize the Japanese economy should concentrate on promoting productivity growth. JEL Classifications: E32, O47.

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The IT revolution and productivity growth in Japan

Cited by 12 publications

References 28 publications

Zombie Lending and Depressed Restructuring in Japan

Zombie Lending and Depressed Restructuring in Japan

Estimation of China's Productive Capital Stock from Information Technology Investment: during the Period from 1980 to 2003

Productivity and Business Cycles in Japan: Evidence From Japanese Industry Data*

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