Conditions for Development of Japanese Economy

Abstract

One of the main economic problems is to explain what factors make some economies grow faster than others. In the literature there are many theories explaining the economic growth. In practice identification of factors affecting economic growth helps in understanding the determinants of socio-economic development of world leaders and in clarifying developmental delays of other countries. The main goal of the article is to identify main competitive advantages for modern economies. The Japanese economy from many years is the world leader, that’s why this country has been chosen by author for analysis. To achieve research goal main macroeconomic indicators for Japanese economy have been presented, inter alia: GDP, GDP per capita, import and export goods and services also import and export ICT and high-tech goods. In addition the article discusses innovation and human capital indicators as a key factor of economic growth, inter alia: spending on R&D, level of education, demographic aspects and its forecast, labour productivity, unemployment rate, patents. Finally article presents short overview and assessment of government activity.