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GTAP Resource #719

"Trade and Transmission of Endogenous Growth Effects: Japanese Economic Reform as an Externality for East Asian Economies"
by Lee, Hiro and David Roland-Holst

The Japanese economy has fallen well below its potential output path over the last decade. The cost of this economic stagnation has been borne in significant part by Japan's trading partners, East Asian countries in particular, as they have seen withering export markets and attenuated inflows of innovative imports, technology, and investment capital. Using a dynamic CGE model, we examine the implications of externalities like this turning positive: how structural reform and greater productivity growth in Japan would induce economic benefits elsewhere in the region. Our preliminary findings suggest that, while Japanese growth appears to be insufficient for aggregate expansion among its regional trading partners, very different trade patterns would prevail for most of them if Japanese reforms are effective, and there will also be significant positive spillovers. The precise nature of these effects, however, depends critically upon the microeconomics of the structural reform and recovery in Japan and on the composition of trade with each partner country.

Resource Details (Export Citation) GTAP Keywords
Category: GTAP Application
Status: Not published
By/In: Presented at the 3rd Annual Conference on Global Economic Analysis, Melbourne, Australia
Date: 2000
Created: (6/18/2001)
Updated: Bacou, M. (2/2/2003)
Visits: 2,632
- Economic growth

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