This paper examines the benefits of diversifying into real estate and other assets that typify the wealth held by Japanese investors by examining movements in mean variance frontiers. We employ spanning tests to assess statistical significance of frontier shifts without specifying a benchmark...

This paper analyses efficiency drivers of a representative sample of Japanese seaports by means of the two-stage procedure proposed by Simar and Wilson (2007). In the first stage, the technical efficiency of seaports is estimated using several models of data envelopment analysis (DEA) that might...

During the 1980s, a widespread belief that the Japanese economy was outperforming that of the US led to a search for causes. Perhaps top on the list was a view that the Japanese had rejected the US model of private market competition, substituting for it the use of very large horizontal and...

JEL Classification: F36, G15