TY - BOOK ID - 85599259 TI - Productivity Drag from Small and Medium-Sized Enterprises in Japan AU - Colacelli, Mariana. AU - Hong, Gee Hee. PY - 2019 SN - 1498325459 9781498325455 1498325424 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Industrial productivity KW - Corporate Finance KW - Investments: General KW - Production and Operations Management KW - Macroeconomics: Production KW - Human Capital KW - Skills KW - Occupational Choice KW - Labor Productivity KW - Corporate Finance and Governance: General KW - Investment KW - Capital KW - Intangible Capital KW - Capacity KW - Macroeconomics KW - Ownership & organization of enterprises KW - Productivity KW - Labor productivity KW - Small and medium enterprises KW - Intangible capital KW - Production KW - Economic sectors KW - National accounts KW - Small business KW - Saving and investment KW - Japan UR - https://www.unicat.be/uniCat?func=search&query=sysid:85599259 AB - Productivity growth in Japan, as in most advanced economies, has moderated. This paper finds supportive evidence for the important role of small and medium-sized enterprises (SMEs) in explaining Japan’s modest productivity growth. Results show a substantial dispersion in firm-level productivity growth across sectors and even across firms within the same sector. SMEs, on average, exhibit lower productivity growth than non-SMEs in Japan, with smaller and older SMEs showing particularly low productivity growth. Estimates suggest that boosting productivity growth in all of the worst-performing SMEs could improve overall productivity growth by up to 1.8 percentage points. The SME credit guarantee system, SME financing constraints, demographic factors, and lack of intangible capital investment are discussed as contributors to the slow productivity growth of Japan’s small and old SMEs. ER -