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  • Was Japan's level of investment in the 1990's excessive?

    Author(s)
    Guest, RS
    McDonald, IM
    Griffith University Author(s)
    Guest, Ross
    Year published
    2003
    Metadata
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    Abstract
    In this paper a method for calculating the socially optimal level of aggregate investment is developed. That method is then applied to Japan. It is found that in the 1990's the level of investment in Japan was excessive, in the sense that it exceeded the socially optimal level. The degree of over-investment in Japan in the 1990's has averaged about 5.5 per cent of GDP per year according to the calculations in this paper.In this paper a method for calculating the socially optimal level of aggregate investment is developed. That method is then applied to Japan. It is found that in the 1990's the level of investment in Japan was excessive, in the sense that it exceeded the socially optimal level. The degree of over-investment in Japan in the 1990's has averaged about 5.5 per cent of GDP per year according to the calculations in this paper.
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    Journal Title
    Singapore Economic Review
    Volume
    48
    Issue
    1
    Publisher URI
    http://www.worldscinet.com/ser/48/4801/S0217590803000633.html
    Copyright Statement
    © 2003 World Scientific Publishing Company. The electronic version of the article is published as above.
    Subject
    Economics
    Publication URI
    http://hdl.handle.net/10072/6113
    Collection
    • Journal articles

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