StudentShare solutions
Triangle menu

Japans High Speed Growth Model - Essay Example

Nobody downloaded yet
the then government of the Meiji took some modernized measures which propelled the economy of Japan later in the 19th and early part of 20th century and by the year 1945 Japan was considered one of the most powerful nations both economically and militarily, and this led to the basic foundation structure of the post war high speed growth. To understand the post war economic miracle in economic terminology we will bring the concept of neo-classical theory of economic convergence. This economic model concept brings out the reality of the Japan's post war economic miracle.
The basis of such model which constituted the high speed growth in Japan was actually brought by two people - Solow and Swan in 1956.Later many people developed the model as per the timeline they lived in. The model provides interesting results. They are termed as follows. Every economy has its own steady state that is to say a kind of growth ceiling to its own possibilities of sustained per capita income growth. This is usually determined by the company's structure of technology and its economic level, rate of savings, rate of population growth and rate of human capital depreciation. The whole scenario can be turned into a mathematical format and can be formalized in the following manner. Let the production of output Y t be a Cobb-Douglas function with physical and human capital define by Kt and effective labor AtLt so that Y t = F(Kt, AtLt )=Ktv (AtLt)1-v where the level of knowledge At and the labor force Lt grow at the exogenous exponential rates g and n respectively. Another important feature of the model is that it states that each country necessarily converges to its own steady state and per capita income will only increase at the same rate as the level of the technology present. So this model provides whole basis and framework of how Japan has shown economic miracle post war. The factors which the model takes as describing its analysis are war destroying the nation and it's per capital stock, increase in the saving rate after wards and increase in the level of technological progress . We can understand that all such events have taken place in the Japanese history. So we realized that Solow model was based on the assumptions war torn country uplifting its economic stock level and also its technological acquisition level after the war and as per our knowledge we can say that Japan has done just to the same assumptions which propelled it to a great nation few years down the line. This can be bolstered by the fact that Japan participated in the World War II and a large part of its capital stock was destroyed in the early part of that same decade. If we look at the statistics Japan's saving rate grew at 19.8 per cent from the period of 1930-1948 and at 34 percent form 1949-1980. Finally the confirmation of technological progress in terms of development of electronics arena and automobile sector proved that Solow model of the high speed growth model was the just the substance required for Japan to rise from the rubble

High Speed Model and Vietnam

Before venturing into discussion of how Vietnam followed the model. Let's first understand the economic comparison of the two countries. If we consider Japan we can say that Japan was had a war style economy before 1945 and market economy after ...Show more


It is a known fact that Japan today boasts as one of the most powerful nations in the world and that Japanese economy is the second largest economy in the world. So we need to understand the factors which took place to overturn the fortunes of a country which was shattered to pieces five decades ago…
Author : xbechtelar
Japans High Speed Growth Model essay example
Read Text Preview
Save Your Time for More Important Things
Let us write or edit the essay on your topic
"Japans High Speed Growth Model"
with a personal 20% discount.
Grab the best paper

Check these samples - they also fit your topic

Solow Growth Model
7). Economic growth leads to better living standards for the population and higher rates of employment. There are different theories that are used to explain economic growth which include classical growth theory, neoclassical growth models, endogenous growth theory and the Salter Model.
6 pages (1500 words) Essay
Accessibility Impacts of Chinas High-Speed Rail Network
According to Cao et al, accessibility is the extent to which land-use and transport systems enable groups of individuals to reach activities or destinations by means of a combination of transport modes (18). It is, therefore, important since it is used in transport planning, land use and geography.
3 pages (750 words) Essay
The High Speed Train
This was rivalled only by Japan which had trains running at 200/mph. This was considered the optimum threshold for high speed operation. The High Speed Train (HST) has been the mainstay of long distance travel in the UK for over 30 years. When it was introduced it carried a number of features that were innovative to the UK rail network, and has been called the most successful train in the UK in the last 50 years.
8 pages (2000 words) Essay
High-speed Train
According to Senator Harry Reid of Nevada, "after taking a drive to southern California, one will be able to appreciate the need for high-speed rail." (Reid, Harry). The U.S. secretary of transport recently announced the designation of a high-speed rail corridor between these cities, and this should open up the release of federal funds for the building of the rail line.
6 pages (1500 words) Essay
Solow Growth Model
He argued that an economy using exhaustible resources can still maintain high standards of living; technological progress was one of the factors that would help achieve high levels of technological growth and also the existence of capital accumulation. Solow gave three preposition about the model, first he assumed that technology was constant therefore E ct was zero, If K/L remains constant and D/L approached zero as the natural resources get depleted then Y/L will eventually approach zero.
4 pages (1000 words) Essay
Japans High Speed Growth Model and Extent Vietnam Followed the Model
To understand the post-war economic miracle, of Japan, in the economic terminology, we will bring the concept of neo-classical theory of economic convergence. This economic model concept brings out the reality of the Japan’s post-war economic miracle.
6 pages (1500 words) Essay
Is speed of growth important to facebook's success
The fastest growing demographic is those thirty five years old and above (Corbett, 2009; It has 250,000 users on a daily basis according to
2 pages (500 words) Essay
Light peak( high speed opictal cable technology)
However, wires are limited in carrying electrical signals between devices. Due to this limitation, the computer industry is almost hitting the limits of the possible achievement through electrical signaling. Consequently, a number of companies, Apple and Intel included,
3 pages (750 words) Essay
Speed camera in high way
Punitive laws must be made and followed by the government so as to ensure that the people who drive recklessly do not get away with it. There are always exceptions, a person who has to reach
1 pages (250 words) Essay
Economic Growth - Solow Growth Model and Beyond
The factor accumulation entails the accumulation of capital, labor, as well as the population growth while the productivity factor entails progress in technology
7 pages (1750 words) Essay
Hire a pro to write
a paper under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
Comments (0)
Click to create a comment
Let us find you another Essay on topic Japans High Speed Growth Model for FREE!
Contact us:
Contact Us Now
  • About StudentShare

  • Testimonials

  • FAQ

  • Blog

  • Free Essays
  • New Essays
  • Essays

  • The Newest Essay Topics
Join us:
Contact Us