Low inflation hit the Japanese economy shortly after the burst of the bubble in stocks and real estate in 1991 and has haunted the domestic economy ever since. The bubbles were partly attributable to prolonged monetary easing in the second half of 1980s, which was conducted to increase domestic...

This paper provides a theoretical model to address the issue of how industrialization affects the structure of international trade. Considering both horizontal and vertical product differentiation, the model shows that intra-industry trade increases when product quality improvement emerges in a...

This paper surveys the recent literature on the Japanese distribution system to consider two propositions: first, that the system is inefficient, and second that prices of imported products tend to be higher in Japan than in other markets. Most of the literature demonstrates that the system is...

Using the international input-output tables between Japan and five Pacific Basin countries (Indonesia, Korea, Malaysia, Singapore, and Thailand) for the years 1975 and 1985, the paper examines the trade structure in 1975 and how it had shifted by 1985. It shows that intra-industry trade in...

The dynamic pattern of foreign direct investment (FDI) in developing countries shows a three-phase pattern. Despite government policies that promote it, initially the inflow of FDI is sluggish, followed by a period of considerable fluctuation before finally entering the stage of rapid growth....

Sooner or later all the accession economies will have to join the ERM2 - a mandatory framework for all those countries that face the challenge of joining the EU. Entering the eurozone will be an unprecedented achievement. The achievement will be all the more remarkable given the unique...

Trade structure and convergence a comparison of CEECs to different world regions (by Julia Wörz) The weak dollar and its repercussions on Central and Eastern Europe (by Pawel Kowalewski) Conference Report 'WTO Round Basic Issues' (by Julia Wörz) Selected monthly data on the economic situation...

The basic dilemma of Poland's monetary strategy beyond 2003 (by Karol Lutowski) Slovenian exchange rate policy (by Janez Novak) EU signals reservations about early expansion of euro area (by Pawel Kowalewski) Selected monthly data on the economic situation in ten transition countries, 2002 to...

Sooner or later all the accession economies will have to join the ERM2 - a mandatory framework for all those countries that face the challenge of joining the EU. Entering the eurozone will be an unprecedented achievement. The achievement will be all the more remarkable given the unique...

Slovak flat tax more pain than gain? (by Zdenek Lukas) Countries covered Slovakia Hungary targeting an inconsistency? (by Pawel Kowalewski) Countries covered Hungary The Common Economic Space agreement origin and prospects (by Vasily Astrov) Selected monthly data on the economic situation in ten...