Journal of Economic Literature
Book Reviews
2026-09-01
Miki Seko of Keio University reviews “Accelerating Japan’s Economic Growth: Resolving Japan’s Growth Controversy” by F. Gerard Adams, Lawrence R. Klein, Yuzo Kumasaka, Akihiko Shinozaki,. The EconLit Abstract of the reviewed work begins “Explores the impact of the information technology (IT) revolution on the Japanese production function using an econometric model of Japan and simulation studies based on a theoretical framework. Discusses the economic growth record in Japan; the challenges to Japanese economic growth; the IT/e-business revolution and globalization--implications of the New Economy for Japan; IT and productivity growth--a theoretical and empirical framework; the East Asian growth process and IT--implications for Japan; information and communications technology and productivity growth in Japan; revisiting Japanese industrial organization and the corporate system; a case study of government policy and the telecommunications market in Japan; IT-related development and policy--some examples from the United States with relevance to Japan; estimating a new economy production function for Japan; simulation studies for accelerating Japanese economic growth; policies to achieve faster economic growth in Japan; and accelerating Japan’s economic growth. Adams is Professor Emeritus at the University of Pennsylvania. Klein is a Nobel Laureate and Benjamin Franklin Professor Emeritus at the University of Pennsylvania. Kumasaka is CEO of IT Economy Advisers. Shinozaki is a professor at Kyushu University. Index.”