The standard growth theory tells us that economic growth in per capita basis comes from mainly two sources: capital deepening and total factor productivity growth, or TFP growth.

Quote by Toshihiko Fukui

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Thus, the questions we should ask here are what makes the current economic upswing different...

Thus, the questions we should ask here are what makes the current economic upswing different...

During the past two decades, inflation has fallen to a low level in major industrial...

During the past two decades, inflation has fallen to a low level in major industrial...

The aging and decreasing population is a serious problem in many developed countries today. In...

The aging and decreasing population is a serious problem in many developed countries today. In...

With weak balance sheets, banks tend to continue lending unprofitable businesses and leave them existing.

With weak balance sheets, banks tend to continue lending unprofitable businesses and leave them existing.

However, in spite of the general perception that monetary policy should be conducted so as...

However, in spite of the general perception that monetary policy should be conducted so as...

Well-functioning financial systems are important in achieving sustained economic growth. They play a crucial role...

Well-functioning financial systems are important in achieving sustained economic growth. They play a crucial role...

In this context, the current recovery in the Japanese economy is taking place in tandem...

In this context, the current recovery in the Japanese economy is taking place in tandem...

The increased global linkages promote economic growth in the world through two key mechanisms: the...

The increased global linkages promote economic growth in the world through two key mechanisms: the...

The aging and declining population will have far-reaching impacts. Declining fertility rates will possibly increase...

The aging and declining population will have far-reaching impacts. Declining fertility rates will possibly increase...

As the new endogenous growth theory suggests, TFP growth is closely related to accumulation of...

As the new endogenous growth theory suggests, TFP growth is closely related to accumulation of...

Japan's experience suggests the importance of assessing the sustainability of price stability over a fairly...

Japan's experience suggests the importance of assessing the sustainability of price stability over a fairly...

They emphasize the viewpoint that the protracted economic stagnation in Japan derives from incomplete economic...

They emphasize the viewpoint that the protracted economic stagnation in Japan derives from incomplete economic...

The direct investment of Japanese businesses to East Asian economies accelerates the reallocation of their...

The direct investment of Japanese businesses to East Asian economies accelerates the reallocation of their...

The staff at the Institute will present an analysis on how asset price fluctuations and...

The staff at the Institute will present an analysis on how asset price fluctuations and...

In fact, the recent increase in intra-firm trading enables businesses to shift their activities across...

In fact, the recent increase in intra-firm trading enables businesses to shift their activities across...