Literature on trade liberalization, economic development, and the environment is largely inconclusive about the environmental consequences of trade. This study treats trade and income as endogenous and estimates the overall impact of trade openness on environmental quality using the instrumental...

Foreign direct investment has been considered a very important factor in the recent growth of Vietnam's economy and thus far has drawn a great deal of concern from economic researchers in Vietnam. However, studies on the impacts of foreign direct investment on Vietnam's economy, especially the...

This paper presents assessments of the economic impacts of free trade agreements (FTAs) relating to Japan. The analysis relies on a simulation with a computable equilibrium model. The impacts of various combinations of FTAs are assessed to draw policy implications. This paper first reviews the...

This paper evaluates donor performance by using data on aid for 10 sectors that are closely related to the Millennium Development Goals (MDGs). We utilize the MDGs indicators to measure the recipient's need for aid in each sector and investigate whether donors designate aid for specific sectors...

This paper studies asset-price bubbles in an economy where a nondepletable asset (e.g., land) can provide transaction services, using a variant of the cash-in-advance model. When a landowner can borrow money immediately using the land as collateral, one can say that land essentially provides a...

This paper studies market discipline on banks by depositors in Japan. We stress the importance of depositors' selection of banks, which together with regulatory and supervisory schemes can strengthen corporate governance in banking. The effectiveness of depositor discipline is, however, weakened...

In this paper, linkages of S&T activities between industry and science are investigated in the context of innovation system reforms. A firm level dataset from S&T survey at National Bureau of Statistics (NBS) of PRC for about 22,000 manufacturing firms is used for econometrics analysis of firm's...

This paper attempted to assess impacts of existing Japanese EPAs in their initial years and to draw policy implications for possible future FTAs/EPAs. Our gravity model estimations as well as detailed analysis on trade and actual tariff reduction by EPAs demonstrated that the Japan-Singapore EPA...

TPreferential trade agreements that complement the multilateral trade regime under the WTO have recently been actively utilized. Making use of the opportunities of forming preferential trade agreements, abolishing, or tightening the imposition requirements of trade remedy measures, such as...

In this paper we revisit the relationship between the forward interest rate and the spot interest rate at the shortest maturities. We introduce a new set of very short forward and spot interest rates that have not been fully utilized in the literature: the "tomorrow next" rate and the "spot...