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The Japanese Crisis--A Case of Strategic Failure?

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  • Cowling, Keith
  • Tomlinson, Philip R

Abstract

This paper provides an alternative insight into Japan's current economic problems. We concentrate upon the role played by the economy's central actors, namely Japan's transnational corporations. Since the early 1980's, Japan's transnationals have become dominant players in the global economy, and now have a higher rate of physical investment in new, overseas greenfield sites than their competitors. This has had detrimental consequences for Japan's domestic economy, particularly for small firms who operate in keiretsu networks. This has led to concerns about the "hollowing out" of Japan's domestic industry raising the possibility of long-term industrial decline and "strategic failure".

Suggested Citation

  • Cowling, Keith & Tomlinson, Philip R, 2000. "The Japanese Crisis--A Case of Strategic Failure?," Economic Journal, Royal Economic Society, vol. 110(464), pages 358-381, June.
    • Handle: RePEc:ecj:econjl:v:110:y:2000:i:464:p:f358-81
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    Citations

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    Cited by:

    1. Cowling, Keith & Tomlinson, Philip R., 2002. "Re-Visiting The Roots Of Japan'S Structural Decline:The Role Of The Japanese Corporation," The Warwick Economics Research Paper Series (TWERPS) 624, University of Warwick, Department of Economics.
    2. Philip Tomlinson, 2002. "The Real Effects of Transnational Activity upon Investment and Labour Demand within Japan's Machinery Industries," International Review of Applied Economics, Taylor & Francis Journals, vol. 16(2), pages 107-129.
    3. Kiyota, Kozo & Urata, Shujiro, 2008. "The role of multinational firms in international trade: The case of Japan," Japan and the World Economy, Elsevier, vol. 20(3), pages 338-352, August.
    4. Nakatani, Takeshi & Skott, Peter, 2007. "Japanese growth and stagnation: A Keynesian perspective," Structural Change and Economic Dynamics, Elsevier, vol. 18(3), pages 306-332, September.
    5. Kozo Kiyota & Toshiyuki Matsuura, 2006. "Why Is Multinational Status Important? Evidence from Job Creation and Job Destruction in Japan," Working Papers 555, Research Seminar in International Economics, University of Michigan.
    6. INUI Tomohiko & KODAMA Naomi, 2016. "The Effects of Japanese Customer Firms' Overseas Outsourcing on Supplier Firms' Performance," Discussion papers 16106, Research Institute of Economy, Trade and Industry (RIETI).
    7. Kozo Kiyota & Toshiyuki Matsuura, 2006. "Employment of MNEs in Japan: New Evidence," Discussion papers 06014, Research Institute of Economy, Trade and Industry (RIETI).
    8. Kneller, Richard & McGowan, Danny & Inui, Tomohiko & Matsuura, Toshiyuki, 2012. "Globalisation, multinationals and productivity in Japan’s lost decade," Journal of the Japanese and International Economies, Elsevier, vol. 26(1), pages 110-128.
    9. Pitelis, Christos N & Tomlinson, Philip R, 2017. "Industrial organisation, the degree of monopoly and macroeconomic performance – A perspective on the contribution of Keith Cowling (1936–2016)," International Journal of Industrial Organization, Elsevier, vol. 55(C), pages 182-189.
    10. Nicholas Crafts & Anthony Venables, 2003. "Globalization in History.A Geographical Perspective," NBER Chapters, in: Globalization in Historical Perspective, pages 323-370, National Bureau of Economic Research, Inc.
    11. Ji-Whan Yun, 2011. "Labour market reforms in Japan and the Republic of Korea: A comparative case study of policy-making in the 2000s," International Labour Review, International Labour Organization, vol. 150(3-4), pages 387-403, December.
    12. Dr Guy West & Assoc Prof Richard Brown, 2003. "Structural Change, Intersectoral Linkages And Hollowing-Out in the Taiwanese Economy, 1976-1994," Discussion Papers Series 327, School of Economics, University of Queensland, Australia.
    13. ., 2012. "The Dynamics of Changing Trade Structures: Export Sophisticated Index," Chapters, in: Trade and Industrial Development in East Asia, chapter 5, Edward Elgar Publishing.
    14. Iulia Monica OEHLER- ȘINCAI, 2015. "Is Romania Attractive For Japanese Investors? A Comparative Analysis At The Eu Level," Romanian Economic Business Review, Romanian-American University, vol. 10(4), pages 226-245, december.
    15. Keith Cowling & Philip Tomlinson, 2002. "Revisiting the Roots of Japan's Economic Stagnation: The role of the Japanese corporation," International Review of Applied Economics, Taylor & Francis Journals, vol. 16(4), pages 373-390.
    16. Cowling, Keith & Tomlinson, Philip R., 2002. "The Problem Of Regional "Hollowing Out" In Japan : Lessons For Regional Industrial Policy," The Warwick Economics Research Paper Series (TWERPS) 625, University of Warwick, Department of Economics.
    17. Jerzy Grabowiecki, 2005. "Przyczyny stagnacji gospodarczej Japonii," Gospodarka Narodowa. The Polish Journal of Economics, Warsaw School of Economics, issue 5-6, pages 63-83.

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