Japan's Economic Recovery: Commercial Policy, Monetary Policy and Corporate Governance

Japan's Economic Recovery: Commercial Policy, Monetary Policy and Corporate Governance

By: Robert Mitchell Stern (editor)Paperback

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The contributors to this book, from the US and Japan, explore the main issues involved in the international trade, foreign direct investment and macro/financial relations of the US and Japan and provide guidance to policymakers for measures to help overcome Japan's economic stagnation since the early 1990s. It is divided into three parts. Part I contains an empirical analysis of trade diversion under the North American Free Trade Agreement (NAFTA), a theoretical analysis of time in determining the structure and effects of trade with an application to Japan, and an empirical analysis of Japan's changing import behaviour. Part II is focused on foreign direct investment (FDI), trade and behaviour and structure of Japanese firms. Part III deals with macro/financial issues of current interest and importance in Japan. The analytical focus of the chapters is intended to enhance the understanding of the issues addressed and to provide some guidance to policymakers in the design of measures that will improve economic efficiency and welfare and help to overcome the economic stagnation that Japan has experienced in the past decade or more.

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Part I: Trade and related issues: trade diversion under NAFTA - Kyoji Fukao, Toshihiro Okubo, Robert M. Stern, comment - Shujiro Urata, Eric Ramstetter; time and trade - the role of time in determining the structure and effects of international trade, with an application to Japan - Alan V. Deardorff, comment - K.C. Fung; an analysis of Japan's changing import behaviour - Theresa Greaney, comments - Yoko Sazanami, Ryuhei Wakasugi; Part II Foreign direct investment, trade and the behaviour and structure of Japanese firms: sources of variation in the procductivity of Japanese manufacturers - Keith Head, John Ries, comments - Kieth Maskus, Keiichiro Kobayashi; foreign direct investment in Japan - empirical analysis based on the estabilishment and enterprise census - Keiko Ito, Kyoji Fukao, comments - Sadao Nagaoka, Fukunari Kimura; exports and foreign direct investment accelerated corporate reforms - evidence from Japanese micro data - Fukunari Kimura, Kozo Kiyota, comments - Masahiro Kuroda, Robert Lipsey; Part III Macro/financial issues: prospective Japanese economic recovery - perspectives from European economic recovery in the 1930s - Gary Saxonhouse, comments - Toshihiro Ihori, Tetsuji Okazaki; Japan's lost decade and weakness in its corporate governance structure - Mitsuhiro Fukao, comments - Hugh Patrick, Yoshiro Miwa, Mark Ramseyer; zero-interest-rate policy, the forward-rate curve and policy-duration effect - Hiroshi Fujiki, Shigenori Shiratsuka, comments - Kenneth West; demographic changes and their implications for Japanese household savings - Naohiro Yashiro, comments - Koichi Hamada; restoring full employment in Japan - domestic and international policy considerations - Takashi Omori, comments - Allan Meltzer, Yoshio Higuchi.

Product Details

  • publication date: 06/05/2003
  • ISBN13: 9781843761204
  • Format: Paperback
  • Number Of Pages: 456
  • ID: 9781843761204
  • weight: 835
  • ISBN10: 1843761203

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