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Strengthening the Integration of Japan in the World Economy to Benefit more Fully from Globalisation

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Author Info
Randall Jones
Taesik Yoon ()
Abstract

Globalisation through international trade, foreign direct investment (FDI) and international movements of labour is a key force driving economic growth. However, Japan is an outlier among OECD countries, with the lowest levels of import penetration, stock of inward FDI relative to GDP and foreign workers as a share of employment, reflecting the legacy of policies during its post-war development. Policy reforms would help Japan make greater use of goods, services, capital, technology and human resources from abroad. Given the close links among trade, investment and labour flows, it is important to pursue a comprehensive approach, including; i) reducing barriers to FDI and imports, particularly in agriculture, through multilateral trade negotiations and regional trade agreements; ii) relaxing product market regulations, notably in the service sector; iii) fully opening the M&A market to foreign firms; and iv) easing controls on the inflow of foreign workers, including those in non-technical occupations. This Working Paper relates to the 2006 Economic Survey of Japan (www.oecd.org/eco/surveys/japan).

Renforcer l'intégration du Japon dans l'économie mondiale afin de profiter plus pleinement de la mondialisation
La mondialisation qui s'opère par le biais du commerce international, de l'investissement direct étranger (IDE) et des flux internationaux de ressources humaines est un moteur essentiel de la croissance économique. Cependant, le Japon est un cas à part parmi les pays de l'OCDE, se classant au dernier rang du point de vue de la pénétration des importations, de la part de l'IDE dans le PIB et de la proportion de travailleurs étrangers dans l'emploi, autant d'héritages des politiques menées au cours de son développement après la guerre. Des réformes aideraient le Japon à mieux exploiter les ressources que constituent les biens, les services, les capitaux, la technologie et la main-d'oeuvre de provenance étrangère. Compte tenu des liens étroits qui unissent les flux d'échanges, d'investissement et de main-d'oeuvre, il importe d'adopter une approche globale consistant à i) réduire les obstacles à l'IDE et aux importations, en particulier dans l'agriculture, par le biais de négociations commerciales multilatérales et d'accords commerciaux régionaux, ii) assouplir la réglementation des marchés de produits, notamment dans le secteur des services, iii) ouvrir complètement le marché des fusions-acquisitions aux entreprises étrangères ; et iv) assouplir les contrôles sur l'entrée de travailleurs étrangers, notamment dans les professions non techniques. Ce Document de travail se rapporte à l'Étude économique du Japon 2006 (www.oecd.org/eco/etudes/japon).

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Paper provided by OECD Economics Department in its series OECD Economics Department Working Papers with number 526.

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Date of creation: 29 Nov 2006
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Handle: RePEc:oec:ecoaaa:526-en

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Keywords: Japon investissement direct étranger imputed rents accords commerciaux régionaux mondialisation fusion et acquisition import penetration pénétration des importations economic partnership agreements accords de partenariat économique agricultural trade commerce agricole immigration immigration foreign workers échanges internationaux libéralisation des échanges

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F1 - International Economics - - Trade
F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
F22 - International Economics - - International Factor Movements and International Business - - - International Migration
F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business

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