Judging Japan's FDI: The verdict from a dartboard model

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Judging Japan's FDI: The verdict from a dartboard model

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Keith Head
John Ries

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Abstract

We evaluate Japan's inward and outward FDI performance using theoretical benchmarks based on the premise that management teams headquartered around the world bid for the production facilities located in each country. Our model incorporates the assumption that bids are inversely proportionate to distance. It accurately predicts the multilateral shares of FDI stocks for most important countries. The theory predicts lower shares of FDI for Japan than its share of the world economy. Japan's actual share of outward FDI exceeds its inward share -as the model predicts- but both currently lie below the benchmark predictions.

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Paper provided by Institute of Economic Research, Hitotsubashi University in its series Hi-Stat Discussion Paper Series with number d04-58.

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Date of creation: Dec 2004
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Handle: RePEc:hst:hstdps:d04-58

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Article
- Head, Keith & Ries, John, 2005. "Judging Japan's FDI: The verdict from a dartboard model," Journal of the Japanese and International Economies, Elsevier, vol. 19(2), pages 215-232, June. [Downloadable!] (restricted)

Find related papers by JEL classification:
F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business

This paper has been announced in the following NEP Reports:

NEP-ALL-2005-02-20 (All new papers)
NEP-IFN-2005-02-20 (International Finance)
NEP-SEA-2005-02-20 (South East Asia)

References listed on IDEAS
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repec:fth:michin:337 is not listed on IDEAS
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Other versions:
- Alan V. Deardorff, 2004. "Trade and Location: A Moving Example Motivated by Japan," Working Papers 516, Research Seminar in International Economics, University of Michigan. [Downloadable!]
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Other versions:
- Keith Head & John Ries & Barbara J. Spencer, 2004. "Vertical Networks and US Auto Parts Exports: Is Japan Different?," Journal of Economics & Management Strategy, Blackwell Publishing, vol. 13(1), pages 37-67, 03. [Downloadable!] (restricted)
Head, Keith & Ries, John, 2008. "FDI as an outcome of the market for corporate control: Theory and evidence," Journal of International Economics, Elsevier, vol. 74(1), pages 2-20, January. [Downloadable!] (restricted)
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- Jonathan Eaton & Akilo Tamura, 1994. "Bilateralism and Regionalism in Japanese and U.S. Trade and Direct Foreign Investment Patterns," Boston University - Institute for Economic Development 48, Boston University, Institute for Economic Development.
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

Ronald B. Davies & Delia Ionascu & Helga KristjÃ¡nsdÃ³ttir, . "Estimating the Impact of Time-Invariant Variables on FDI with Fixed Effects," University of Oregon Economics Department Working Papers 2007-8, University of Oregon Economics Department. [Downloadable!]
Other versions:
- Davies, Ronald B. & Ionascu, Delia & Kristjánsdóttir, Helga, 2007. "Estimating the Impact of Time-Invariant Variables on FDI with Fixed Effects," Working Papers 02-2007, Copenhagen Business School, Department of Economics. [Downloadable!]
- Ronald B. Davies & Delia Ionascu & Helga Kristjánsdóttir, 2007. "Estimating the Impact of Time-Invariant Variables on FDI with Fixed Effects," The Institute for International Integration Studies Discussion Paper Series iiisdp228, IIIS. [Downloadable!]
- Ronald B. Davies & Delia Ionascu & Helga Kristjánsdóttir, 2008. "Estimating the Impact of Time-Invariant Variables on FDI with Fixed Effects," Review of World Economics (Weltwirtschaftliches Archiv), Springer, vol. 144(3), pages 381-407, October. [Downloadable!] (restricted)
Walid Hejazi, 2005. "Are Regional Concentrations of OECD Exports and Outward FDI Consistent with Gravity?," Atlantic Economic Journal, International Atlantic Economic Society, vol. 33(4), pages 423-436, December. [Downloadable!] (restricted)
Görg, Holger & Hijzen, Alexander & Manchin, Miriam, 2007. "Cross-Border Mergers & Acquisitions and the Role of Trade Costs," CEPR Discussion Papers 6397, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)

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