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Japans Deformed Dual Economy
Driving Away the Geese That
From Growth Superstar to Economic Laggard
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20 percent absolute convergence American Asia Asian auto Bank of Japan banks barriers billion budget deficit bureaucrats capital cartels catch-up cement Chapter companies competition conditional convergence consumer consumption corporate costs countries crisis decline dual economy economies of scale economists efficient excess savings factors Figure foreign free trade funds GDP per worker growth rate Hashimoto high prices high-growth higher imports income increase industrial policy interest rates investment rates Itoh Japan Japan's exports Japan's trade Japanese keiretsu koenkai Komiya Korea labor less loans lower manufacturing Ministry MITI Nippon Steel oil shock output percent of GDP petrochemicals political problem productivity protection protectionism reform revisionists rising yen role sectors share shift Source steel structure subsidies Summers and Heston tariff textiles Tilton tion Tokyo trade deficit trade surplus trade:GDP ratio world prices Yamamura