As Japan emerges from recession and its economy approaches cruising speed, the potential rate of growth of the Japanese economy is becoming an increasingly important factor in determining the path for restoring fiscal health and the timing for tightening up monetary policy.
In the meantime, it has been recognized that the main source of growth for Japan, which faces serious population decline in the coming years, is the increase in total factor productivity (TFP). Therefore it is urgent to recover Japanese TFP growth, which has been at a standstill since the 1990s. This stagnation in productivity growth and its increasing gap with the U.S. are not only recognized in Japan but also in Europe, which has led to a great deal of research in this area. With these issues in mind, the Ministry of Economy, Trade and Industry (METI) has compiled its "New Economic Growth Strategy" to show that "new growth" is possible even under an adverse environment of continuous population decrease, by strengthening international competitiveness and revitalizing regional economies.
This symposium will be based on the results of RIETI's projects on industry- and firm-level productivity and international comparison of productivity in the Pacific Rim countries, to discuss the following issues:
- Which sectors have been leading TFP growth in Japan?
- What are the determinants of the potential growth rate?
- To what extent can factors such as regulatory reform, focusing resources on the IT industry, usage of IT by user-industries, improving service sector productivity, and the accumulation of human capital be counted on to increase the potential growth rate of the Japanese economy?
- How much have the East Asian countries caught up with Japan in terms of productivity?
- Why did TFP growth in Europe stagnate?
To this end, distinguished overseas researchers on TFP have also been invited to contribute to this conference.
In the second part, participants will then deepen the debate through a panel discussion comprised of experts and policymakers from within and outside of Japan.
It is hoped that with the participation of a wide range of practitioners and researchers, the outcome of this symposium will provide many insights to the future strategy of Japan's economic growth and productivity.
- Time and Date:
13:00-17:50 Tuesday, July 25, 2006
Conference Hall, Shinsei Bank, Shinsei Financial Center
1st Floor, Head Office, 2-1-8 Uchisaiwaicho, Chiyoda-ku, Tokyo
Japanese / English (with simultaneous interpretation)
- Charge: ¥2,000 (an official receipt will be issued)
(Student discount ¥1,000. Please present your student ID at the reception desk.)
- Hosts: Research Institute of Economy, Trade and Industry (RIETI)
- Contact: RIETI
Ms. Tomoko KASE
Tel: 03-3501-8398 Fax: 03-3501-8416
* Streaming video footage of and handouts pertaining to the symposium will be available for downloading from the RIETI website after the event.
* Purpose of Use of Images
Agenda (subject to change)
|YOSHITOMI Masaru (President and CRO, RIETI)|
|INUI Tomohiko (Professor, Nihon University College of Economics)|
|- MIYAGAWA Tsutomu (Former Faculty Fellow, RIETI / Professor, Faculty of Economics, Gakushuin University)
- FUKAO Kyoji (Faculty Fellow, RIETI / Professor, Institute of Economic Research, Hitotsubashi University)
|Marcel P. TIMMER (Assistant Professor, Department of Economics, University of Groningen)|
|Dale W. JORGENSON (Samuel W. Morris University Professor, Department of Economics, Harvard University)|
|MOTOHASHI Kazuyuki (Faculty Fellow, RIETI/ Professor, Department of Technology Management for Innovation, The University of Tokyo)|
|NAGAOKA Sadao (Research Counselor, RIETI / Director and Professor, Institute of Innovation Research, Hitotsubashi University)|
|- YOSHIKAWA Hiroshi (Research Counselor, RIETI / Professor, Faculty of Economics, The University of Tokyo)
- Dale W. JORGENSON (Samuel W. Morris University Professor, Department of Economics, Harvard University)
- MORIKAWA Masayuki (Director, Industrial Structure Policy Division, Economic and Industrial Policy Bureau, METI)
- FUWA Hisayoshi (Corporate Vice President, General Manager for Corporate Strategic Planning Division, and General Manager for i cube Project Office of Innovation Division, Toshiba Corporation)
|OIKAWA Kozo (Chairman, RIETI)|