High Economic Growth and It’s End in Japan: An Explanation by a Model of Demand-Led Growth
- H. Yoshikawa
- The Structure of the Japanese Economy: Changes on…
The Japanese economy experienced very rapid growth in the 1960s, but this growth significantly decelerated in the early 1970s. It is generally accepted that the growth potential underwent a ‘kink’, though the reason for this is still actively debated. Then, the economy showed a real growth rate of around 5 per cent on average for about 20 years. In the 1990s, however, the economy has been quite sluggish, and concerns are voiced whether Japan’s growth potential has undergone another downward kink.