2 Kikuo Iwata and Tsutomu Miyagawa (2003) expressed various views concerning factors behind the productivity decline. Tsutomu Miyagawa (2005) qualitatively analyzed the impact of the inefficient allocation of resources on the supply side and information technology development. On the other hand, Kazuyuki Motohashi (2005) said that IT development helped accelerate productivity in and after the late 1990s.