Chapter

Economic Growth

Hiroyuki Odagiri

in Growth through Competition, Competition through Growth

Published in print May 1994 | ISBN: 9780198288732
Published online November 2003 | e-ISBN: 9780191596711 | DOI: http://dx.doi.org/10.1093/0198288735.003.0010
 Economic Growth

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This chapter presents a macroeconomic equilibrium model of steady growth to show that, provided corporate R&D efforts increase labour productivity, management growth preference results in rapid national economic growth. This preference, together with a higher saving rate, has been the main factor in Japan's rapid post‐war economic growth. The relation between the rate of return on stocks and the rate of company profit is also discussed.

Keywords: growth; macroeconomic equilibrium; management; productivity; profit; R&D; saving

Chapter.  8744 words. 

Subjects: Business and Management

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