Japanese episodic long swings in economic growth |
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Authors: | Solomos Solomou Masao Shimazaki |
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Affiliation: | a Faculty of Economics, University of Cambridge, UK b Ministry of Finance, Tokyo, Japan |
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Abstract: | Prior to World War II Japanese economic growth was characterised by episodic ‘long swings,’ low frequency fluctuations in economic growth averaging about 20-25 years in duration. At the aggregate level, these inter-period growth variations dominated both shorter-term fluctuations and longer-term trend acceleration. The paper describes the long swings of the Japanese economy and re-evaluates conventional explanations. |
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Keywords: | Episodic Economic Growth Long swings Japanese Economic History |
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