Theoretical and empirical analysis of the growth potential of a matured economy

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The research has been carried out through four subgroups. The summary of the research is as follows. As for the growth from the viewpoint of world and regional economies, based on an empirical research utilizing Japanese data by prefectures, a structural change in the process of change in regional differences is detected, and the effect of borders is confirmed with respect to capital movements. In the area of human capital and economic growth, empirical analysis utilizing Japanese data on promotions is carried out to suggest the existence of an effect which cannot be explained by abilities and learning alone. From the game theoretical analysis of economic institutions in an advanced economies, it has been established that through a bargaining game with coalition formation, a solution of cooperative game, valid tool a matured society, can be attained, and also that there is an advantage in being relatively less advanced in terms of technology through an applied analysis of negotition games. As to the new growth theory and stochastic growth theory, the analyzes of chaos and cycles in the optimal growth theory were collected and combined together under a general perspective, and a result on stationary sunspot equlibria was extended to the case of continuous time with predetermined exogenous variables. Through these results, our understanding of the possibility of economic growth for a matures economy is deepened from a multi-faceted viewpoints. Even though the approaches adopted in these researches are divided into two, market based analysis and others, in addition to usual distinctions of theoretical and empirical approaches, what our research really indicates is the usefulness of amalgamation of two approaches in this research area.