We evaluate Japan's inward and outward FDI performance using theoretical benchmarks based on the premise that management teams headquartered around the world bid for the production facilities located in each country. Our model incorporates the assumption that bids are inversely proportionate to...

The study group on the Creation of a Productivity Database on Japanese, Chinese, and South Korean Firms at the Japan Center for Economic Research (JCER), in conjunction with the Center for Economic Institutions (CEI) of Hitotsubashi University, the Center for China and Asian Studies (CCAS) of...

Using plant-level data underlying the Census of Manufactures, total factor productivity (TFP) growth and its determinants are analyzed for the Japanese automobile industry since 1980s. The average annual TFP growth rate from 1981 to 1996 was only about 0.6 percent for the automobile assembly...

Firstly, this paper shows that before M&A the foreign firms value the facility and scale economy in target firms which have greater capital stock and sales in the host country. Secondly, out-in M&A firms acquired by foreign firms saw an improvement in their business efficiency after the...

This paper estimates the contribution of R&D spillovers to productivity growth Japanese manufacturing industry by estimating two alternative measures of productivity growth and two different types of R&D spillovers. The results suggest that TFP growth is affected neither by rent R&D spillovers...

This paper investigates both the determinants and the impact of overseas subsidiaries' R&D activities, using firm-level panel data for Japanese multinational enterprises. We distinguish between overseas innovative and adaptive R&D and find substantial differences between the two types of R&D....

This paper examines the link between Japanese universities' education and research and productivity growth in industry, using a newly available data set on 12 Japanese industries for the period between 1973 and 1998. We obtain empirical evidence showing that the supply of highly educated human...