Japan and the Great Divergence, 725-1874
40 Pages Posted: 5 May 2015
Date Written: May 2015
Japanese GDP per capita grew at an annual rate of 0.04 per cent between 725 and 1874, but the growth was episodic, with the increase in per capita income concentrated in three periods, 1150-1280, 1450-1600 and after 1730, interspersed with periods of stable per capita income. There is a similarity here with the growth pattern of Britain. The first countries to achieve modern economic growth at opposite ends of Eurasia thus shared the experience of an early end to growth reversals. However, Japan started at a lower level than Britain and grew more slowly until the Meiji Restoration.
Keywords: Britain, GDP per capita, Great Divergence, growth reversals, Japan
JEL Classification: N10, N30, N35, O10, O57
Suggested Citation: Suggested Citation