NOMURA Koji

写真a

Affiliation

Research Centers and Institutes, Keio Economic Observatory （Mita）

Position

Professor

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Career 【 Display / hide 】

  • 1996.04
    -
    2003.03

    Keio University,, Keio Economic Observatory,, Assistant Professor

  • 2003.04
    -
    2005.03

    Harvard University,, Kennedy School of Government,, CBG fellow

  • 2003.04
    -
    2017.03

    Keio University,, Keio Economic Observatory,, Associate Professor

  • 2005.07
    -
    2008.09

    Cabinet Office, Government of Japan,, ESRI (Economic Social Research Institute),, Visiting Fellow

  • 2006.11
    -
    2007.08

    OECD, STI (Directorate for Science, Technology and Industry),, Economist

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Academic Background 【 Display / hide 】

  • 1989.03

    Hakodate Chubu High School, Hokkaido

    Graduated

  • 1993.03

    Keio University, Faculty of Business and Commerce

    University, Graduated

  • 1995.03

    Keio University, Graduate School of Business and Commerce

    Graduate School, Completed, Master's course

  • 1998.03

    Keio University, Graduate School of Business and Commerce

    Graduate School, Withdrawal after completion of doctoral course requirements, Doctoral course

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Academic Degrees 【 Display / hide 】

  • M.A., Keio University, Coursework, 1995.03

  • Ph.D, Keio University, Dissertation, 2005

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Research Areas 【 Display / hide 】

  • Humanities & Social Sciences / Economic statistics

  • Humanities & Social Sciences / Economic policy

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Research Keywords 【 Display / hide 】

  • Economic Growth, Capital and Productivity

  • Energy and Environment

  • Labor Input and Human Capital

  • Japanese and Asian Economies

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Books 【 Display / hide 】

  • Energy Productivity and Economic Growth: Experiences of the Japanese Industries, 1955–2019

    Koji Nomura, Springer, 2023.01,  Page： 268

    　View Summary

    Energy costs in the economy amount to only a few percent of gross domestic product, but their importance to economic growth is much greater than their apparent number. Energy is used in almost all production and consumption activities, and energy price changes induce significant spillover effects throughout the economic system. More importantly, stable and affordable access to energy is a critical factor in determining the rate of capital accumulation in a domestic economy and, hence, labor productivity growth. The expansion of production per hour worked is achieved by using more and higher quality capital, which requires more energy to operate. This book aims to provide robust observational facts on energy productivity improvement (EPI) and to analyze the mechanisms of EPI achieved in Japan’s economic growth from 1955 to 2019. Linking the productivity account with energy statistics enables us to attempt not only to develop a better indicator of energy productivity but also to evaluate the EPI with other significant changes in the production process, such as capital productivity, labor productivity, and even the overall efficiency measured in terms of total factor productivity. This book is a valuable resource for researchers and policymakers seeking to understand the role of energy throughout the economy and for economic planners seeking to ensure the efficient use of energy now and into the future.

  • Energy Productivity in Japan's Economic Growth (in Japanese)

    Koji Nomura, Keio University Press, 2021.06,  Page： 288

    　View Summary

    拙速なエネルギー環境政策の強化が更なる経済停滞を招く危険を説いた警世の書。日本のエネルギー効率が「環境規制」によってではなく「経済成長」下で改善されてきた事実を示し、２０５０年「脱炭素社会」を見据え、その移行期における国際的に調和したエネルギー環境政策を提言する。

    目次
    第１章　経済成長とエネルギー
    第２章　エネルギー生産性改善の源泉
    第３章　エネルギー価格高騰に対する耐性
    第４章　エネルギー生産性と全体効率
    第５章　間接的な電力輸入
    第６章　日本のエネルギー転換に向けて

  • Measurement of Capital and Productivity in Japan (in Japanese)

    Koji Nomura, Keio University Press, 2004.11,  Page： 660

    　View Summary

    わが国の資本形成から資本ストックの蓄積、資本サービスへの変換、資本サービス投入による経済成長への寄与まで、生産と資本、資本と生産を結ぶ整合ある測定を行い、日米比較とともに高度成長期から２０００年までの経済成長を描いた本格的実証分析。

    目次
    第１章　資本の測定
    第２章　資本ストック
    第３章　資本サービス価格
    第４章　資本サービスと経済成長
    補章
    終章　結びとして

  • APO Productivity Databook 2022

    Koji Nomura and Fukunari Kimura, Asian Productivity Organization, Keio University Press, 2022.10

    Scope: pp.1-212

    　View Summary

    This fifteenth edition of the APO Productivity Databook aims to provide a useful reference for the quality of economic growth and productivity, comparable across countries at different development stages in Asia. Productivity gains, which enable an economy to produce more for the same amount of inputs, or to consume less to produce the same amount of outputs, are the only route to sustainable economic growth in the long run. Thus, monitoring and improving national productivity capability are important public policy targets. This edition covers the half-century history of Asian economic development, from 1970 to 2020, with our projections of economic growth and labor productivity improvements through 2030.
    Baseline economic growth and productivity indicators are calculated for 31 Asian economies, representing the 21 Asian Productivity Organization member economies (APO21) and the ten non-member economies in Asia. The APO21 consists of Bangladesh, Cambodia, the Republic of China (ROC), Fiji, Hong Kong, India, Indonesia, the Islamic Republic of Iran (Iran), Japan, the Republic of Korea (Korea), the Lao People’s Democratic Republic (Lao PDR), Malaysia, Mongolia, Nepal, Pakistan, the Philippines, Singapore, Sri Lanka, Thailand, Turkey, and Vietnam. The ten non-member economies in Asia are the Kingdom of Bhutan (Bhutan), Brunei Darussalam (Brunei), the People’s Republic of China (China), Myanmar, and the Gulf Cooperation Council (GCC), consisting of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates (UAE). In addition, Australia, the European Union (EU), France, Italy, Germany, the United Kingdom (UK), and the United States (US) are included as reference economies.
    The analyses in the Databook series are based on the comprehensive productivity accounts for Asian countries (APO Productivity Database), which have been developed by a joint research effort between the APO and the Keio Economic Observatory (KEO), Keio University, since 2007. In this edition of the Databook, the productivity accounts are developed for 25 Asian economies (Asia25), consisting of the APO21 plus Bhutan, Brunei, China, and Myanmar, along with the US as a reference economy.

  • APO Productivity Databook 2021

    Koji Nomura and Fukunari Kimura, Asian Productivity Organization, Keio University Press, 2021.10

    Scope: pp.1-199

    　View Summary

    In the 60th anniversary year of the foundation of APO, we present the fourteenth edition of the APO Productivity Databook. The Databook aims to provide a useful reference for the quality of economic growth and productivity, which is comparable across countries at different development stages in Asia. This edition covers almost half a century, from 1970 to 2019, with our projections of economic growth and labor productivity improvements through 2030.
    The only route to sustainable economic growth in the long run is through productivity gains that enable an economy to produce more for the same amount of inputs, or to consume less to produce the same amount of outputs. Thus, it follows that monitoring and improving national productivity are important targets of public policy.
    Baseline indicators on economic growth and productivity are calculated for 31 Asian economies, representing the 21 Asian Productivity Organization member economies (APO21) and the 10 non-member economies in Asia. The APO21 consists of Bangladesh, Cambodia, the Republic of China (ROC), Fiji, Hong Kong, India, Indonesia, the Islamic Republic of Iran (Iran), Japan, the Republic of Korea (Korea), the Lao People’s Democratic Republic (Lao PDR), Malaysia, Mongolia, Nepal, Pakistan, the Philippines, Singapore, Sri Lanka, Thailand, Turkey, and Vietnam. The 10 non-member economies in Asia are: the Kingdom of Bhutan (Bhutan), Brunei Darussalam (Brunei), the People’s Republic of China (China), Myanmar, and the Gulf Cooperation Council (GCC) consisting of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates (UAE). In addition, Australia, the European Union (EU), and the United States (US) are included as reference economies.
    The analyses in the Databook series are based on the comprehensive productivity accounts (APO Productivity Database), which have been developed by a joint research effort between the APO and the Keio Economic Observatory (KEO), Keio University, since 2007. In this edition of the Databook, the productivity accounts are developed for 25 Asian economies (Asia25) – the APO21 plus Bhutan, Brunei, China, and Myanmar – along with the US as a reference economy. This edition reflects the revised productivity account for China in APO Productivity Database 2021, based on our study with Professor W. Erwin Diewert (University of British Columbia).

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Papers 【 Display / hide 】

  • "Can Energy Saving be Accelerated? -Postwar Japanese Industrial Experience and Future Prospects" (in Japanese)

    Koji Nomura

    Economic Statistics Research （Keizai Sangyo Toukei Kyokai)  50 （ Ⅲ ） 1 - 46 2022.12

    Research paper (bulletin of university, research institution), Single Work, Lead author, Corresponding author

    　View Summary

    近年のエネルギー価格の高騰や2050年のカーボンニュートラル目標を受け、省エネへの期待が再び高まっている。世界金融危機後の日本経済では電力需要が減少し、エネルギー生産性も改善したかようにみえる。本稿はその持続可能性を検討するため、1955年から2019年までの長期生産性勘定とそれに整合して構築されたエネルギー勘定に基づき、エネルギー生産性変化の構造的な要因を分析することを目的としている。簡易に観察されるマクロ指標である（グロスの）エネルギー生産性改善は、高度経済を実現した第I期（1955–73年）の年率1.3%から、オイルショック後の第II期（1973–90年）には2.7%へと大きく加速した。将来、政府はその再現を期待するが、エネルギー品質や産業構造の変化を統御した本稿での測定によれば、真のエネルギー生産性改善のピークはむしろ第I期（年率1.4%）にあり、第II期には1.3%へと、そして経済成長が低迷した第III期（ポストバブル経済期：1990–2008年）ではほぼゼロにまで落ち込んでいる。世界金融危機後の第IV期（2008–19年）では再び年率0.5%へと回復したが、それも製品レベルでの構成変化（海外への生産シフト）に大きく依存しており、技術的な改善による効果は限定的である。将来展望として、一定の仮定に基づくエネルギー生産性改善のスピードとしての本稿の試算では、（電力化や産業構造変化などの影響を含めた）グロス指標によっても年率1.0%ほどであり、政府目標の半分にも満たない。適切な政策運営のためには、そうした目標と現実との乖離がさらなる産業空洞化によって埋められることのないよう、エネルギー消費削減が実現される構造的要因の把握が求められる。

  • "Measuring Public Civil Engineering Output Prices Based on Bidding Data in Japan, 1989–2021" (in Japanese)

    Koji Nomura and Sho Inaba

    KEO Discussion Paper （Keio Economic Observatory, Keio University)   （ 173 ）  2022.10

    Research paper (bulletin of university, research institution), Joint Work

    　View Summary

    This paper develops the monthly estimates on the successful bid rate based on the Japanese bidding data from 1989, when the competitive bidding system was introduced, to 2021. Using these estimates, we evaluate revisions to the input-cost-type output price used in the Japanese system of national accounts. As for the annual price index for public civil enginerring as a whole, the growth of the current price index based on the input method (“Construction Cost Deflators”) has increased by 36.3% over the entire measurement period of this paper (33 years), while the growth of price index adjusted for bidding rate is 26.9%. It suggests that the promotion of competition through the introduction of the bidding system contributed to Japan's long-term decline in the prices of public civil engineering. In particular, the deviation has become larger due to the impact of intensified price competition since the mid-2000s. Based on the adjusted price index measured in this paper, the current estimate of real net capital stock of the entire public civil engineering is assessed to be underestimated by 3.5% (19.0 trillion yen at the current price) as of the end of 2020.

  • "Alternative Measures for Chinese Productivity Growth"

    Erwin Diewert, Koji Nomura and Chihiro Shimizu

    The 7th WorldKLEMS Conference, Manchester  2022.10

    Research paper (conference, symposium, etc.), Joint Work

    　View Summary

    The paper constructs estimates of China’s Total Factor Productivity (TFP) growth over the period 1970-2020 using primarily the Asian Productivity Organization (APO) data base augmented by additional data developed by Koji Nomura at Keio University. China's TFP growth will be measured using the following methods: (i) the exact index number method developed by Jorgenson (and his coworkers) and Diewert and Morrison and (ii) a nonparametric method developed by Diewert and Fox. Economy wide estimates of rates of return on assets will also be calculated. Estimates for quality adjusted labour developed by Nomura will be used as well as estimates for missing inputs such as Land. Finally, instead of using GDP as the output concept, alternative estimates of TFP growth using net output as the output concept will be provided. The alternative measure is useful in explaining Chinese real income growth.

  • "Effective Rates of Protection in the U.S. and Japanese Industries" (in Japanese)

    Koji Nomura

    Economic Statistics Research （Keizai Sangyo Toukei Kyokai)  48 （ Ⅲ ） 16 - 46 2020.12

    Research paper (bulletin of university, research institution), Single Work

    　View Summary

    本稿は日米両国における商品別輸入相手国別関税マトリックス（関税額および従価税換算関税率）を構築し、日米国際産業連関表のフレームワークのもとで関税による産業保護率の日米格差を測定することを目的としている。関税による産業保護率の指標として、産業の生産物に対する名目保護率、中間投入される輸入財（輸入中間財）に課される関税を考慮した有効保護率とともに、本稿では間接的な輸入中間財の投入に課される関税を考慮した有効保護率を定義し、2011年、2015年および2018年を対象とした測定をおこなう。直接間接的な輸入中間財に課される関税を考慮すれば、食料品や農林水産品などに傾斜して保護的となる日本の関税体系は、自動車製造業や機械製造業などでは間接効果を含んだ有効保護率が負値となることが示される。製造業における競争力棄損を回避するためには、ネットの有効保護率として非保護効果が上回るような現行関税体系の見直しが求められる。

  • "Measurement of Labor Shares and Quality-adjusted Labor Inputs in Vietnam, 1970–2018"

    Koji Nomura and Hiroshi Shirane

    KEO Discussion Paper （Keio Economic Observatory, Keio University)   （ 156 ）  2020.12

    Research paper (bulletin of university, research institution), Joint Work

    　View Summary

    One of the largest obstacles to developing a productivity account in Vietnam is the lack of the estimate on compensations of employees in the System of National Accounts. This paper constructs the data for Vietnam on hours worked by type of workers, which are cross classified by gender, education attainment, age, and employment status, and on hourly wages in each type of labor for the period 1970–2018. The data constructed in this paper is used to estimate labor share at the aggregate level, which has a micro foundation, and to develop the measure of the quality-adjusted labor input. Our estimates show that the improvement in labor quality was very modest at an annual rate of 0.1% from 1970 to 2000, but accelerated to an average of 1.9% per year from 2000 to 2018, accounting for 57.9% of the growth of quality-adjusted labor input of 3.3%.

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Papers, etc., Registered in KOARA 【 Display / hide 】

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Reviews, Commentaries, etc. 【 Display / hide 】

  • Loophole That Cannot be Closed (in Japanese)

    Koji Nomura

    Wave (Denki Shimbun) (The Denki Shimbun)   2023.02

    Article, review, commentary, editorial, etc. (trade magazine, newspaper, online media), Single Work

  • Increased Indirect Electricity Imports - A Factor Leading to Prolonged Economic Stagnation (in Japanese)

    Koji Nomura

    Energy Policy Report (Energy Forum Inc.)   2023.01

    Article, review, commentary, editorial, etc. (trade magazine, newspaper, online media), Single Work

  • Deflation Behind Inflation (in Japanese)

    Koji Nomura

    Wave (Denki Shimbun) (The Denki Shimbun)   2022.12

    Article, review, commentary, editorial, etc. (trade magazine, newspaper, online media), Single Work

  • Accelerating Justice (in Japanese)

    Koji Nomura

    Wave (Denki Shimbun) (The Denki Shimbun)   2022.11

    Article, review, commentary, editorial, etc. (trade magazine, newspaper, online media), Single Work

  • Electricity Burden Grows to ¥6 Trillion in 2022- Need to Curb Costs to Boost Manufacturing (in Japanese)

    Koji Nomura

    Energy Policy Report (Energy Forum Inc.)   2022.10

    Article, review, commentary, editorial, etc. (trade magazine, newspaper, online media), Single Work

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Presentations 【 Display / hide 】

  • "Will Steel Carbon Neutrality Increase "Competitiveness"? ---To Avoid Falling into the Groupthink" (in Japanese)

    Koji Nomura

    Second Meeting of Steel Carbon Neutrality Study (Tokyo) , 

    2022.11
    , 

    Oral presentation (invited, special), The Iron and Steel Institute of Japan

  • "Issues for Japan's Energy Transition" (in Japanese)

    Koji Nomura

    Symposium on Global Warming Mitigation Technologies Supporting Future Technologies (Osaka Science & Technology Center) , 

    2022.09
    , 

    Oral presentation (invited, special), RITE

  • "R&D Stock, Patent, and TFP : Experiences of the Japanese Industries" (in Japanese)

    Koji Nomura

    RITE ALPS IV Economic Analysis Working Group, 

    2022.09
    , 

    Oral presentation (general), RITE

  • "Japan's Economic Stagnation and the Challenges of Energy Transition" (in Japanese)

    Koji Nomura

    NSRI, 

    2022.07
    , 

    Public lecture, seminar, tutorial, course, or other speech, NSRI

  • "Energy and Economic Growth: Japan's Experience and Perspectives for Policy" (in Japanese)

    Koji Nomura

    JSAE Forum 2022, 

    2022.07
    , 

    Oral presentation (general), Society of Automotive Engineers of Japan, Inc. (JSAE)

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Works 【 Display / hide 】

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Awards 【 Display / hide 】

  • The 48th Nikkei Award (Nikkei Keizai-Tosho-Bunka-Sho)

    Koji Nomura, 2005.11, Nihon Keizai Shimbun, Measurement of Capital and Productivity

    Type of Award： Award from publisher, newspaper, foundation, etc.

  • Keio Award

    Koji Nomura, 2005.11, Keio Univeristy

    Type of Award： Keio commendation etc.

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Courses Taught 【 Display / hide 】

  • THEORY OF INDEX NUMBERS

    2022

  • SEMINAR (QD)

    2022

  • SEMINAR (QC)

    2022

  • SEMINAR (QB)(PAST YEARS)

    2022

  • SEMINAR (QB)

    2022

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Social Activities 【 Display / hide 】

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Media Coverage 【 Display / hide 】

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Academic Activities 【 Display / hide 】

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Committee Experiences 【 Display / hide 】

  • 2022.07
    -
    2023.03

    Chief, Research Institute of Innovative Technology for the Earth (RITE), Economic Analysis Working Group

  • 2022.07
    -
    2023.03

    Committee Member, Research Institute of Innovative Technology for the Earth (RITE), Technical Committee for International Strategy against Global Warming

  • 2022.07
    -
    2023.03

    Committee Member, Research Institute of Innovative Technology for the Earth (RITE), Working Group for Promoting Innovation and Investment

  • 2022.05
    -
    2023.03

    Committee member, Committee on Energy System Research, APIR (Asia Pacific Institute of Reseach)

  • 2022.05
    -
    2024.03

    Committee Member, Global Environment Subcommittee, Industrial Technology and Environment Subcommittee, Industrial Structure Council, Ministry of Economy, Trade and Industry

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