Japan's development of information technology (IT) is said to have lagged behind the U.S. throughout the "lost decade", as the 1990s are often described. However, if we harmonize the national accounts for the two countries, the contribution of IT to economic growth turns out to be nearly...

This paper investigates the effectiveness of policies, especially credit guarantees and governmental institution lending, to facilitate funding for small and medium enterprises (SMEs) in Japan in the late 1990s. We set up a panel from different Japanese prefectures from 1993 to 2001 to estimate...

The purpose of this paper is to investigate the choice of invoice currency under exchange rate uncertainty. The analysis is motivated by the fact that the U.S. dollar has been the dominant vehicle currency in developing countries. The theoretical analysis is based on an open economy model of...