Knowledge Diffusion and the Japanese Growth Miracle


This paper develops a model in which measured total factor productivity (TFP) is endogenously determined, in order to quantitatively explain the following three facts of the Japanese growth miracle between 1956 and 1973. First, the growth rate of GDP per unit of labor in the second half of this period was 7.9 percent while in the first half it was only 5.5… (More)


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