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

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Title Was Japan's level of investment in the 1990's excessive?
Author Guest, Ross; McDonald, Ian M.
Journal Name Singapore Economic Review
Editor Euston Quah
Year Published 2003
Place of publication Singapore
Publisher World Scientific Publishing
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.
Peer Reviewed Yes
Published Yes
Publisher URI http://www.worldscinet.com/ser/48/4801/S0217590803000633.html
Copyright Statement Copyright 2003 World Scientific Publishing Company. The electronic version of the article is published as above.
Volume 48
Issue Number 1
Page from 13
Page to 26
ISSN 0217-5908
Date Accessioned 2004-03-20
Language en_AU
Research Centre Griffith Asia Institute
Faculty Graduate School of Management
Subject Macroeconomics (incl. Monetary and Fiscal Theory)
URI http://hdl.handle.net/10072/6113
Publication Type Journal Articles (Refereed Article)
Publication Type Code c1

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