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Research and development became increasingly important to the Japanese economy through the 1970s and 1980s and obtained significant support from the Japanese government.
As its economy matured in the 1970s and 1980s, Japan gradually shifted away from dependence on foreign research. Japan's ability to conduct independent research and development became a decisive factor in boosting the nation's competitiveness. As early as 1980, the Japan Science and Technology Agency, a component of the Kantei (office of the Prime Minister) announced the beginning of "the era of Japan's technological independence."
By 1986 Japan had come to devote a higher proportion of its GNP to research and development than the United States. In 1989 nearly 700,000 Japanese were engaged in research and development, more than the number of French, British, and West Germans combined. At the same time, Japan was producing more engineers than any country except the United States and Soviet Union. Similar trends were seen in the use of capital resources. Japan spent US$39.1 billion on government and private research and development in 1987, equivalent to 2.9 percent of its national income (the highest ratio in the world). Although the United States spent around US$108.2 billion on research and development in 1987, only 2.6 percent of its income was devoted to that purpose, ranking it third behind Japan and West Germany.
The Japanese reputation for originality also increased. Of the 1.2 million patents registered worldwide in 1985, 40 percent were Japanese, and Japanese citizens took out 19 percent of the 120,000 patent applications made in the United States. In 1987 around 33 percent of computer-related patents in the United States were Japanese, as were 30 percent of aviation-related patents and 26 percent of communications patents.
Despite its advances in technological research and development and its major commitment to applied research, however, Japan significantly trailed other developed nations in basic scientific research. In 1989 about 13 percent of Japanese research and development funds were devoted to basic research. The proportion of basic research expenses borne by government was also much lower in Japan than in the United States, as was Japan's ratio of basic research expenses to GNP. In the late 1980s, the Japanese government attempted to rectify national deficiencies in basic research by waging a broad "originality" campaign in schools, by generously funding research, and by encouraging private cooperation in various fields.
Most research and development is private, although government support to universities and laboratories aid industry greatly. In 1986 private industry provided 76 percent of the funding for research and development, which was especially strong in the late 1980s in electrical machinery (with a ratio of research costs to total sales of 5.5 percent in 1986), precision instruments (4.6 percent), chemicals (4.3 percent), and transportation equipment (3.2 percent).
As for government research and development, the national commitment to greater defense spending in the 1980s translated into increased defense-related research and development. Meanwhile, government moved away from supporting large-scale industrial technology, such as shipbuilding and steel. Research emphases in the 1980s were in alternative energy, information processing, life sciences, and modern industrial materials and supplies.
In 2016, the total spending on R&D in Japan was US$165.7 billion by PPP, which represents around 3% of the country's GDP PPP.
The economy of Honduras is based mostly on agriculture, which accounts for 14% of its gross domestic product (GDP) in 2013. The country's leading export is coffee (US$340 million), which accounted for 22% of the total Honduran export revenues. Bananas, formerly the country's second-largest export until being virtually wiped out by 1998's Hurricane Mitch, recovered in 2000 to 57% of pre-Mitch levels. Cultivated shrimp is another important export sector. Since the late 1970s, towns in the north began industrial production through maquiladoras, especially in San Pedro Sula and Puerto Cortés.
The economy of Nicaragua is focused primarily on the agricultural sector. Nicaragua itself is the least developed country in Central America, and the second poorest in the Americas by nominal GDP. In recent years, under the administrations of Daniel Ortega, the Nicaraguan economy has expanded somewhat, following the Great Recession, when the country's economy actually contracted by 1.5%, due to decreased export demand in the American and Central American markets, lower commodity prices for key agricultural exports, and low remittance growth. The economy saw 4.5% growth in 2010 thanks to a recovery in export demand and growth in its tourism industry. Nicaragua's economy continues to post growth, with preliminary indicators showing the Nicaraguan economy growing an additional 5% in 2011. Consumer Price inflation have also curtailed since 2008, when Nicaragua's inflation rate hovered at 19.82%. In 2009 and 2010, the country posted lower inflation rates, 3.68% and 5.45%, respectively. Remittances are a major source of income, equivalent to 15% of the country's GDP, which originate primarily from Costa Rica, the United States, and European Union member states. Approximately one million Nicaraguans contribute to the remittance sector of the economy.
The economy of Paraguay is a market economy that is highly dependent on agriculture products. In recent years, Paraguay's economy has grown as a result of increased agricultural exports, especially soybeans. Paraguay has the economic advantages of a young population and vast hydroelectric power. Its disadvantages include the few available mineral resources, and political instability. The government welcomes foreign investment.
The economy of South Korea is a highly developed mixed economy. By nominal GDP, ₩2.24 quadrillion, it has the 4th largest economy in Asia and the 12th largest in the world. South Korea is notable for its rapid economic development from an underdeveloped nation to a developed, high-income country in a few generations. This economic growth has been described as the Miracle on the Han River, which has allowed it to join the OECD and the G20. South Korea remains one of the fastest-growing developed countries in the world following the Great Recession and the COVID-19 recession. It is included in the group of Next Eleven countries as having the potential to play a dominant role in the global economy by the middle of the 21st century.
The economy of the Comoros is based on subsistence agriculture and fishing. Comoros has inadequate transportation links, a young and rapidly increasing population, and few natural resources. The low educational level of the labor force contributes to a subsistence level of economic activity, high unemployment, and a heavy dependence on foreign grants and technical assistance. The Comoros, with an estimated gross domestic product (GDP) per capita income of about $700, is among the world's poorest and least developed nations. Although the quality of the land differs from island to island, most of the widespread lava-encrusted soil formations are unsuited to agriculture. As a result, most of the inhabitants make their living from subsistence agriculture and fishing. Average wages in 2007 hover around $3–4 per day.
The economy of Bolivia is the 95th-largest in the world in nominal terms and the 87th-largest in purchasing power parity. Bolivia is classified by the World Bank to be a lower middle income country. With a Human Development Index of 0.703, it is ranked 114th. Driven largely by its natural resources, Bolivia has become a region leader in measures of economic growth, fiscal stability and foreign reserves, although it remains a historically poor country. The Bolivian economy has had a historic single-commodity focus. From silver to tin to coca, Bolivia has enjoyed only occasional periods of economic diversification. Political instability and difficult topography have constrained efforts to modernize the agricultural sector. Similarly, relatively low population growth coupled with low life expectancy has kept the labor supply in flux and prevented industries from flourishing. Rampant inflation and corruption previously created development challenges, but in the early twenty-first century the fundamentals of its economy showed unexpected improvement, leading Moody's Investors Service to upgrade Bolivia's economic rating in 2010 from B2 to B1. The mining industry, especially the extraction of natural gas and zinc, currently dominates Bolivia's export economy.
Medical research, also known as experimental medicine, encompasses a wide array of research, extending from "basic research", – involving fundamental scientific principles that may apply to a preclinical understanding – to clinical research, which involves studies of people who may be subjects in clinical trials. Within this spectrum is applied research, or translational research, conducted to expand knowledge in the field of medicine.
Japan's major export industries include automobiles, consumer electronics, computers, semiconductors, copper, and iron and steel. Additional key industries in Japan's economy are petrochemicals, pharmaceuticals, bioindustry, shipbuilding, aerospace, textiles, and processed foods.
In its economic relations, Japan is both a major trading nation and one of the largest international investors in the world. In many respects, international trade is the lifeblood of Japan's economy. Imports and exports totaling the equivalent of nearly US$1.309.2 Trillion in 2017, which meant that Japan was the world's fourth largest trading nation after China, the United States and Germany. Trade was once the primary form of Japan's international economic relationships, but in the 1980s its rapidly rising foreign investments added a new and increasingly important dimension, broadening the horizons of Japanese businesses and giving Japan new world prominence.
The trade policy of Japan related to Japan's approach to import and export with other countries.
The military budget of Japan is the portion of the overall budget of Japan that is allocated for the funding of the Japanese Self-Defence Forces. This military budget finances employee salaries and training costs, the maintenance of equipment and facilities, support of new or ongoing operations, and the development and procurement of new weapons, equipment, and vehicles.
Japan emerged as one of the largest foreign aid donors in the world during the 1980s.
The economic history of the Republic of Turkey may be studied according to sub-periods signified with major changes in economic policy:
The Taiwan Miracle or Taiwan Economic Miracle refers to Taiwan's rapid economic development to a developed, high-income country during the latter half of the twentieth century.
Nepal relies heavily on foreign aid, and donors coordinate development aid policy through the Nepal Development Forum, whose members include donor countries, international financial institutions, and inter-governmental organizations. Japan is Nepal's largest bilateral aid donor, and the World Bank and Asian Development Bank are the largest multilateral donors. Donors have been reported as losing confidence in Nepal as a result of political interference and corruption in poverty relief efforts as well as the country's apparently poor capacity to utilize aid. According to World Bank figures, official development assistance increased from US$8.2 million in 1960 to US$369 million in 2003 and then fell to US$177 million in 2004. According to Nepal's Ministry of Finance, total foreign aid committed in fiscal year (FY) 2003 was US$555 million, with 63.3 percent in grants and 36.7 percent in loans. In FY2004, total foreign aid committed was US$320 million, of which 37.7 percent was grants and 62.3 percent, loans. In June 2004, active World Bank credits totaled US$302 million, with the greatest portions allocated to the financial sector and to energy and mining. By the end of 2012, the outstanding World Bank IDA loan totaled $ 1.48 billion.
The Five-Year Economic and Social Development Plans were a series of economic development projects in South Korea.
The technological and industrial history of China is extremely varied, and extensive. China's industrial sector has shown great progress using most of its technology from the 1950s.
Trade is a key factor of the economy of China. In the three decades following the dump of the Communist Chinese state in 1949, China's trade institutions at first developed into a partially modern but somewhat inefficient system. The drive to modernize the economy that began in 1978 required a sharp acceleration in commodity flows and greatly improved efficiency in economic transactions. In the ensuing years economic reforms were adopted by the government to develop a socialist market economy. This type of economy combined central planning with market mechanisms. The changes resulted in the decentralization and expansion of domestic and foreign trade institutions, as well as a greatly enlarged role for free market in the distribution of goods, and a prominent role for foreign trade and investment in economic development.
The Five-Year Plans for the National Economy of Pakistan, were the series of nationwide centralised economic plans and targets as part of the economic development initiatives, in the Pakistan. The plan was conceived by the Ministry of Finance (MoF), and were studied and developed by the Economic Coordination Committee (ECC) based on the theory of Cost-of-production value, and also covered the areas of Trickle-down system. Supervision and fulfillment of this programme became the watchword of Pakistan's civil bureaucracy since early 1950s.
In Japan during the 1980s, the economy was in a boom where buyers found themselves paying the highest prices for goods and commodities. As of March 1980, the unemployment rate in Japan was 4.9%; a very low number compared to the unemployment rate during the height of the 1990s. The following decade would see Japan's economy decline substantially, giving rise to the name the Lost Decade.
This article incorporates text from this source, which is in the public domain . Country Studies. Federal Research Division. - Dolan, R. E. & Worden, R. L. (1992) Japan: A Country Study. Washington, D.C.: Federal Research Division, Library of Congress: For sale by the Superintendent of Documents, U.S. Govt. Print. Off. [Pdf] Retrieved from the Library of Congress, https://www.loc.gov/item/91029874/.| History | |
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