06134oam 22012614 450 991096175320332120250426110132.09781475582529147558252897814755300491475530048(CKB)2670000000278849(EBL)1606826(Au-PeEL)EBL1606826(CaPaEBR)ebr10627070(OCoLC)870245009(IMF)WPIEE2012171(IMF)WPIEA2012171(MiAaPQ)EBC1606826WPIEA2012171(EXLCZ)99267000000027884920020129d2012 uf 0engurcn|||||||||txtrdacontentcrdamediacrrdacarrierJapan out of the Lost Decade Divine Wind or Firms’ Effort? /Ichiro Tokutsu, Kazuo Ogawa, Mika Saito1st ed.Washington, D.C. :International Monetary Fund,2012.1 online resource (41 p.)IMF Working PapersDescription based upon print version of record.9781475505191 1475505191 Includes bibliographical references.Cover; Contents; I. Introduction; Figures; 1. Export Contribution of GDP Growth Rate; 2. Japanese Export by Destination; II. Model; A. Export Behavior; Tables; 1. Average Annual Growth Rate of Export by Destination; B. Equilibrium Export Price; C. Role of External Finance to Exporters; III. Data Description; 3. Log of TFP by Year: General Machinery; 4. Log of TFP by Year: Electrical Machinery; 5. Log of TFP by Year: Transportation Equipment; 6. Price-Cost Margin by Year: General Machinery; 7. Price-Cost Margin by Year: Electrical Machinery8. Price-Cost Margin by Year: Transportation Equipment 9. Real Export by Year: General Machinery; 10. Real Export by Year: Electrical Machinery; IV. Estimation Results and Implications; A. Export Functions; 11. Real Export by Year: Transportation Equipment; 2. Estimation Results of Export Function (Panel IV Method); B. Price-Cost Margin Equation; 3. Estimation Results of Export Function (Simple Panel Method); C. Reverse Causality from Exports to Productivity; 4. Estimation Results of Price-Cost Margin Function; V. External Demand versus Productivity Gain; 5. Estimation Results of TFP Function6. Contribution of Each Independent Variable to Export: 1999-2007 VI. Concluding Remarks; Appendixes Data Appendix; Appendix Tables; A1. Descriptive Statistics by Year: General Machinery; A2. Descriptive Statistics by Year: Electrical Machinery; A3. Descriptive Statistics by Year: Transportation Equipment; ReferencesA surge of exports in the 2000s helped Japan exit the severe decade-long stagnation known as the lost decade. Using panel data of Japanese exporting firms, we examine the sources of the export surge during this period. One view argues that the so-called "divine wind" or exogenous external demand boosted Japanese exports. The other view emphasizes the role of supply factors such as productivity gains, materialized after long-fought restructuring efforts during the lost decade. Estimating the firm-level export function allows us to assess the relative importance of these demand and supply factors. Evidence shows that firms' efforts were more important than the divine wind.IMF Working Papers; Working Paper ;No. 2012/171ExportsJapanCapacityimfCapital and Total Factor ProductivityimfCostimfEmpirical Studies of TradeimfExport performanceimfExports and ImportsimfExportsimfFinancial Markets and the MacroeconomyimfIndustrial productivityimfIndustry Studies: Transportation and Utilities: GeneralimfInfrastructureimfInnovationimfIntellectual Property Rights: GeneralimfInternational economicsimfInternational tradeimfMacroeconomicsimfMacroeconomics: ProductionimfNational accountsimfProduction and Operations ManagementimfProductionimfProductivityimfResearch and DevelopmentimfSaving and investmentimfTechnological ChangeimfTotal factor productivityimfTrade: GeneralimfTransportationimfJapanEconomic conditions1989-China, People's Republic ofimfExportsCapacityCapital and Total Factor ProductivityCostEmpirical Studies of TradeExport performanceExports and ImportsExportsFinancial Markets and the MacroeconomyIndustrial productivityIndustry Studies: Transportation and Utilities: GeneralInfrastructureInnovationIntellectual Property Rights: GeneralInternational economicsInternational tradeMacroeconomicsMacroeconomics: ProductionNational accountsProduction and Operations ManagementProductionProductivityResearch and DevelopmentSaving and investmentTechnological ChangeTotal factor productivityTrade: GeneralTransportation332.1/52Tokutsu Ichiro1815799Ogawa Kazuo1954-1815910Saito Mika1815800DcWaIMFBOOK9910961753203321Japan out of the Lost Decade4371531UNINA