Modern Economic Growth: Retrospect and Prospect

Abstract

In the introductory chapters (Chs 1–3) we discussed the initial conditions for modern economic growth and the growth process. Then, in more specific terms (Chs 4–11), we elucidated various aspects of the mechanism of economic growth. In Section 12.1 of the present chapter we summarize the conclusions derived from the preceding analyses and, by comparing Japanese experience with the experience of the developed countries of the west and the developing countries, we discuss the distinctive features of Japanese economic development. In Section 12.2 we discuss the future prospects of the Japanese economy.