Research Programs: Raising Industrial and Firm Productivity

Determinants of Firm Dynamics: Causal Inference Approach

Project Leader/Sub-Leader


HOSONO Kaoru (Faculty Fellow)



The aim of this project is to isolate key determinants of firm growth. First, specifically focusing on various exogenous shocks which have faced the Japanese economy in advance of other nations, including population aging, the hollowing out of industry, business succession challenges, trade conflicts, and unconventional monetary policy, we will identify the causal impact of those shocks on firm dynamics. Second, employing granular data including proprietary firm data and machine learning-based causal inference techniques, we will establish causal relationships linking growth mechanisms to firm dynamics.

April 1, 2020 - March 31, 2022

Major Research Results


RIETI Discussion Papers