实证分析表明,大萧条时期日本的装备制造业水平较低导致了资本形成严重依赖进口,总供求态势是供给约束型的,并未达到欧美经济强国的需求约束型经济境界。在样本区间内,日本的总供给价格弹性不过0.15,表现为极弱状态。因此,以需求约束型经济态势为基本前提假设的理论框架对这一时期日本宏观经济总量问题的研究均不适用。 Empirical analysis shows that the relatively low level of equipment manufacturing industry in Japan during the Great Depression led to a serious dependence on imports for capital formation. The overall supply and demand situation was constrained supply and did not meet the demand-bound economic realm of the economic powers in Europe and the United States. Within the sample interval, Japan’s total supply price elasticity is only 0.15, showing a very weak state. Therefore, the theoretical framework based on the demand-constrained economy as the basic assumptions does not apply to the study of the total macroeconomic aggregate in Japan in this period.