Since the early 1990s, the Japanese economy has been trapped in a long-term recession signified by zerobound interest rate, little or no inflation, and imperceptible growth. The most visible outcome is, strangely enough, a significant drop in foreign direct investment. One would have thought...

Particularly in terms of tregional analysis, the concept of development ranks among the most frequent and essential components of economicreasoning. Yet, the way how it has been generally understood seems to berather vague, the range and variety of its possible content too wide and itspattern...