Using pooled cross-section and time-series data for 17 manufacturing industries in Japan, this paper examines whether and how Japan’s comparative advantage in manufacturing changed over the period 1970 to 1995. The results show that physical and human capital were the main sources of...

The possible link between intra-industry trade (IIT) and foreign direct investment (FDI) has attracted a great deal attention from some economists, but there has been little empirical research on the subject. There are two schools of thought on how FDI might cause IIT. One theory is that MNEs...

This paper investigates whether and how foreign aid facilitates foreign direct investment (FDI) flows into less developed countries. We employ a large data set of source-recipient country pairs and conduct gravity equation-type estimation. Our empirical methodology enables us to examine an...

Over 10 years after the currency crisis, the degree of exchange rate misalignment is still an issue of contention for East Asian countries. This study evaluates the degrees of currency misalignment of Korea, China, Malaysia, Thailand, the Phillipines, and Indonesia by examining absolute...

In order to assess the symmetry in the nature of structural shocks for a bloc of countries to form a currency union, long-run identifying restrictions to simple bivariate models are often used. This study attempts to assess the reliability of the estimated structural shocks produced from...

In the postwar period Japanese foreign direct investment in Australia has played a key role in strengthening trading links between the two countries and influencing the industrial structure of Australia. This paper surveys the pattern and intensity of Japanese investment in the 1990s as well as...

This paper deals with the role of human development and technology in trade in services, the significance of trade in services, and the importance of investment in human resource development. It also outlines the requirements for promoting personnel training and the need for advanced technology....

In spite of being the second largest recipient of FDI in the world, China shows limited evidence of considerable FDI benefits on growth (Fan and Hu 2007; Luo 2007; Ran et al. 2007). Motivated by Alfaro et al.’s (2003) model, this study tests whether poor financial market development might be...

Nokyo, the system of agricultural cooperatives in Japan, is one of the most politically powerful organisations in Japanese politics. It is a mammoth economic entity that provides almost every kind of service to rural areas. Nokyo’s economic performance has never been properly analysed because...