Elements Affect Japan GDP Growth

Jiarui Guo

doi:10.54254/2754-1169/12/20230609

Research Article

Open access

Published on 13 September 2023

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Guo,J. (2023). Elements Affect Japan GDP Growth. Advances in Economics, Management and Political Sciences,12,117-125.

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Elements Affect Japan GDP Growth

Jiarui Guo *^,1,

¹ University of Toronto Scarborough

* Author to whom correspondence should be addressed.

https://doi.org/10.54254/2754-1169/12/20230609

Abstract

After a severe economic crisis, the Japanese economy entered a recessionary phase. Since the 1990 bubble economy, consumption, investment, and export became essential factors to support Japan GDP growth. This paper is supported by data collected by the International Financial Statistics (the base year is the 2015 Japanese Yen). Therefore, this paper also applies the Hodrick-Prescott filter to extract the cyclical rate of change of the variables and analyze the de-trend correlation of each factor with GDP. This method estimates the best-fitting directional line from a frequently fluctuating data set. According to the analysis, Japan's GDP remained generally unchanged with a slight increase after the bubble crisis, which again proved the country's economic stagnation. However, Japan's exports grew significantly this year, effectively giving a short-term increase in GDP. In addition, consumption has the least fluctuation with GDP, and focusing on the development of consumption can bring stable long-term growth to GDP. In summary, this paper analyzes and argues that factors of production such as consumption and exports may get Japan out of this predicament.

Keywords

GDP, Japan economic, gross domestic product

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References

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Cite this article

Guo,J. (2023). Elements Affect Japan GDP Growth. Advances in Economics, Management and Political Sciences,12,117-125.

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The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.

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About volume

Volume title: Proceedings of the 2nd International Conference on Business and Policy Studies

Conference website: https://2023.confbps.org/

ISBN：978-1-915371-67-6(Print) / 978-1-915371-68-3(Online)

Conference date: 26 February 2023

Editor：Javier Cifuentes-Faura, Canh Thien Dang

Series: Advances in Economics, Management and Political Sciences

Volume number: Vol.12

ISSN：2754-1169(Print) / 2754-1177(Online)

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