Japanese Foreign Direct Investment in the World Economy 1951-1997
Since the 1980s Japan has emerged as one of the world’s leading sources of foreign direct investment (FDI) reflecting the continuing internationalisation of Japanese corporations. This paper provides a broad survey of trends in Japanese FDI in the postwar period by both country and industry and discusses the motivations for investment. Overseas investment reflects the growth and adjustment of the Japanese economy since the 1950s and is an indicator of how industries have responded to factors such as the appreciation of the yen and the choice between exporting and overseas production. The paper also considers the scope and limitations of the available statistics on Japanese FDI, especially the benchmark Ministry of Finance (MOF) series. The internationalisation of Japanese industry and its geographical allocation and intensity are examined using a consolidated database of MOF statistics of overseas investment. The paper highlights the opportunities that the database creates for future investigations of the determinants of Japanese FDI in the postwar period. Other data sources, such as the MITI, EXIM and Toyo Keizai surveys are drawn upon to provide a detailed overview of the international operations of Japanese corporations. Measures of the rate of internationalisation of Japanese industry and of the intensity of investment by industry and country are estimated.
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- Jeffrey A. Frankel, 1993.
"Is Japan Creating a Yen Bloc in East Asia and the Pacific?,"
in: Regionalism and Rivalry: Japan and the United States in Pacific Asia, pages 53-88
National Bureau of Economic Research, Inc.
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- Jeffrey A. Frankel., 1993. "Is Japan Creating a Yen Bloc in East Asia and the Pacific?," Center for International and Development Economics Research (CIDER) Working Papers C93-007, University of California at Berkeley.
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- Hal Hill & Prema-chandra Athukorala, 1998. "Foreign Investment in East Asia: A Survey," Asian-Pacific Economic Literature, Asia Pacific School of Economics and Government, The Australian National University, vol. 12(2), pages 23-50, November.
- Kenneth A. Froot, 1991. "Japanese Foreign Direct Investment," NBER Working Papers 3737, National Bureau of Economic Research, Inc.
- Peter Drysdale & SÃ©bastien Willis, 2013. "Asia and The G20," EABER Working Papers 23384, East Asian Bureau of Economic Research.
- Drake, Tracey A. & Caves, Richard E., 1992. "Changing determinants of Japanese foreign investment in the United States," Journal of the Japanese and International Economies, Elsevier, vol. 6(3), pages 228-246, September.
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