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The Problem Of Regional "Hollowing Out" In Japan : Lessons For Regional Industrial Policy

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Author Info
Cowling, Keith (Department of Economics, University of Warwick)
Tomlinson, Philip R. (School of Management, University of Bath)

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Abstract

This paper considers the problems of "hollowing out" using a Case Study of Japan's machinery sector. In doing so, it explores the roots of the present crisis by focusing upon the role played by Japan's large transnational corporations. This is important because these corporations are the "central actors" within the Japanese economy and they control a significant proportion of Japanese manufacturing. It is their strategic decisions - those that determine the level and location of investment, employment and output - which ultimately shape the development path for Japanese industry (see Cowling and Sugden, 1994, 1998). In recent years, Japan’s large transnationals have become engaged in the process of elite globalisation, pursuing their own interests at the expense of domestic Japanese industry. This is a fundamental insight that is crucial for designing appropriate policy responses to arrest Japan's current industrial decline. It is argued that the lessons from Japan's experience might guide policymakers in other regions, such as Wisconsin, who are concerned with future industrial development, the effects of globalisation and problems of "hollowing out".

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File URL: http://www2.warwick.ac.uk/fac/soc/economics/research/workingpapers/publications/twerp625.pdf
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Publisher Info
Paper provided by University of Warwick, Department of Economics in its series The Warwick Economics Research Paper Series (TWERPS) with number 625.

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Length: 33 pages
Date of creation: 2002
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Handle: RePEc:wrk:warwec:625

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Related research
Keywords: Machinery sector ; strategic-decision making ; strategic failure ; industrial policy.;

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

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  1. Keith Cowling & Philip R. Tomlinson, 2002. "Revisiting the Roots of Japan's Economic Stagnation: the role of the Japanese corporation," International Review of Applied Economics, Taylor and Francis Journals, vol. 16(4), pages 373-390, October. [Downloadable!] (restricted)
  2. Aoki, Masahiko, 1990. "Toward an Economic Model of the Japanese Firm," Journal of Economic Literature, American Economic Association, vol. 28(1), pages 1-27, March. [Downloadable!] (restricted)
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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.)

  1. Joost van Acht & Joop Stam & Roy Thurik & Ingrid Verheul, 2004. "Business Ownership and Unemployment in Japan," Tinbergen Institute Discussion Papers 04-036/3, Tinbergen Institute. [Downloadable!]
    Other versions:
  2. Jacques Poot & Anna Strutt, 2009. "International Trade Agreements and International Migration," Working Papers in Economics 09/06, University of Waikato, Department of Economics. [Downloadable!]
  3. Keith Cowling & Philip R. Tomlinson, 2002. "Revisiting the Roots of Japan's Economic Stagnation: the role of the Japanese corporation," International Review of Applied Economics, Taylor and Francis Journals, vol. 16(4), pages 373-390, October. [Downloadable!] (restricted)
  4. Kitagawa, Fumi, 2008. "Policy Reforms, New University-Industry Links and Implications for Regional Development in Japan," CIRCLE Electronic Working Paper Series 2008-08, CIRCLE (Centre for Innovation, Research and Competence in the Learning Economy), Lund University. [Downloadable!]
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