Comparison of the slowdown in productivity growth after the two oil crises: Japan and the USA

Thesis/Dissertation · Sun Jan 01 00:00:00 EST 1984

OSTI ID:6194382

Kumasaka, Y

The author analyzed the slowdown in productivity growth since the first oil crisis for about ten industrial sectors in both Japan and the USA and also compared the similarities and differences of their economic performances from the two oil crises. It is assumed that the increase in energy prices was the main cause of the slowdown in productivity growth. The productivity experiences from the two oil crises through the shift of factor price frontier, which was obtained from the cost function, was analyzed. The two oil crises had much responsibility for the slowdown in productivity growth since 1973. However, the effects of the oil crises on production were quite different not only among industrial sectors but also between Japan and the USA. The mining sector suffered from the two oil crises most severely in both countries. The Japanese transportation and communication sector and the US communication sector suffered from them least severely. Also studied was the learning effect from the first oil crisis for the Japanese manufacturing and the US commercial sectors. The reason why most of Japanese industrial sectors managed the second oil crisis relatively well was due to the downward flexibility of their real wages during the second oil crisis.

• OSTI ID: 6194382
• Resource Relation: Other Information: Thesis (Ph. D.)
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
29 ENERGY PLANNING
POLICY AND ECONOMY
ENERGY EXPENSES
ECONOMIC IMPACT
JAPAN
ECONOMIC GROWTH
PETROLEUM
PRICES
USA
PRODUCTIVITY
ASIA
ENERGY SOURCES
FOSSIL FUELS
FUELS
NORTH AMERICA
020700* - Petroleum- Economics
Industrial
& Business Aspects
294002 - Energy Planning & Policy- Petroleum
290200 - Energy Planning & Policy- Economics & Sociology