Japanese economic miracle

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The Japanese economic miracle (Japanese: 高度経済成長, romanized: Kōdo keizai seichō) refers to Japan's record period of economic growth between the post-World War II era and the beginning of the global Oil Crisis (1955-1973). During the economic boom, Japan rapidly became the world's third-largest economy (after the United States and Soviet Union). By the 1970s, Japan was no longer expanding as quickly as it had in the previous decades despite per-worker productivity remaining high.