By IFO Institute for Economic Research Sakura Institute ofResearch Japan
The target of this ebook is to judge effectively fiscal improvement mechanism and to extract useful classes from a comparability of the industrial improvement of Japan and that of Germany. The ebook covers an intensive diversity of monetary concerns: (1) macro-economic elements: capital, exertions, expertise; (2) macro-economic regulations: monetary, financial, commercial; (3) exterior shocks to either economies: oil crises, trade price fluctuations, environmental difficulties; (4) improvement techniques of significant industries: metal, chemical substances, and vehicles. The analyses with this systematic and finished strategy supply worthwhile insights for the final reader in addition to guidance for constructing nations and for jap eu international locations in transition.
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Extra info for A Comparative Analysis of Japanese and German Economic Success
The index of GDP, in contrast to industrial output, declines substantially less between 1938 and 1946 (it decreases from 100 to 49) because non-industrial sectors, especially agriculture, were not so heavily hit as industry. According to an Ifo study (Ifo, 1953), the index of agrarian output (1935/39 = 100) declined to 67 in 1946 and 58 in 1947. The GDP drop from 100 to 49 also occurs in GDP per capita, according to Paque (1994). Fig. 2-2 indicates that the index of per-capita GDP rose during World War II to 120 in mid-1944.
Damage to industrial production capacity The level of damage to industrial production capacity varied from industry to industry. 1-2). There was little damage to the iron and steel industry, yet in the machinery sector the vehicle and delivery equipment industry suffered loss ratios as high as 20-30%. In the chemical sector, the production capacity for ammonium sulphate and rubber was reduced by 40-50%. The fact that damage was heavy in industries close to the finished-product sector and light in key industries appears to have been behind the strong emphasis placed on heavy and chemical industries, such as iron and steel, and shipbuilding, in Japan's post-war industrial reconstruction policy (Arisawa, 1994).
Consequently, Wolf (1993) is correct when he states that an important element of the success of the post-World War IT West German economy is fortuna. , market economy) programme could finally be implemented" in West Germany and a socialist political alternative with significant state intervention and planning be avoided (Giersch, Paque, Schmieding, 1992). The recoveries of the post-World War I and post-World War IT epochs of Britain, France and Germany have also been compared and contrasted in the aggregate by Bradford De Long and Barry Eichengreen (1993).
A Comparative Analysis of Japanese and German Economic Success by IFO Institute for Economic Research Sakura Institute ofResearch Japan