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Changing Commercial Policy in Japan During 1985–2010

Author

Listed:
  • Masahiro Kawai

    (Asian Development Bank Institute)

  • Shujiro Urata

Abstract

In this paper we examine the changing nature of Japans commercial policy over the last 25 years while reviewing Japans changing structure of trade, FDI and economy that underlay policy changes. We argue that until the late 1990s Japan adopted a two-track approach of relying on multilateral liberalization under the GATT/WTO and open regionalism under Asia-Pacific Economic Cooperation (APEC) on the one hand and on the bilateral trade relationship with the US on the other. Although the Japan-US bilateralism sometimes resulted in managed trade and encountered negative perceptions of the US approach in Japan, overall, it had a positive impact on the Japanese economy in opening domestic markets through various reforms and deregulation measures. Japans more recent commercial policy focuses on bilateral and plurilateral economic partnership agreements particularly withbut not limited toEast Asian economies. We argue that agricultural sector liberalization is key to the further integration of Japan with the Asian and global economies.

Suggested Citation

  • Masahiro Kawai & Shujiro Urata, 2010. "Changing Commercial Policy in Japan During 1985–2010," Trade Working Papers 23056, East Asian Bureau of Economic Research.
  • Handle: RePEc:eab:tradew:23056
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    File URL: http://www.eaber.org/node/23056
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    References listed on IDEAS

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    1. repec:fth:michin:337 is not listed on IDEAS
    2. Masahiro Kawai & Shinji Takagi, 2011. "Why Was Japan Hit So Hard by the Global Financial Crisis?," Chapters,in: The Impact of the Economic Crisis on East Asia, chapter 7 Edward Elgar Publishing.
    3. Kimura, Fukunari & Ando, Mitsuyo, 2005. "Two-dimensional fragmentation in East Asia: Conceptual framework and empirics," International Review of Economics & Finance, Elsevier, vol. 14(3), pages 317-348.
    4. Gary R. Saxonhouse, 1993. "What Does Japanese Trade Structure Tell Us about Japanese Trade Policy?," Journal of Economic Perspectives, American Economic Association, vol. 7(3), pages 21-43, Summer.
    5. Prema-chandra Athukorala, 2005. "Product Fragmentation and Trade Patterns in East Asia," Asian Economic Papers, MIT Press, vol. 4(3), pages 1-27, Fall.
    6. Mireya SOLÍS & Shujiro URATA, 2007. "Japan's New Foreign Economic Policy: A Shift Toward a Strategic and Activist Model?," Asian Economic Policy Review, Japan Center for Economic Research, vol. 2(2), pages 227-245.
    7. Kawai, Masahiro & Wignaraja, Ganeshan, 2011. "Asian FTAs: Trends, prospects and challenges," Journal of Asian Economics, Elsevier, vol. 22(1), pages 1-22, February.
    8. Robert Z. Lawrence, 1991. "Efficient or Exclusionist: The Import Behavior of Japanese Corporate Groups," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 22(1), pages 311-341.
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    Cited by:

    1. Gunther Schnabl & Kristina Spantig, 2016. "(De)Stabilizing Exchange Rate Strategies In East Asian Monetary And Economic Integration," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 61(02), pages 1-24, June.

    More about this item

    Keywords

    Japan; FDI; Regionalism; agricultural sector liberalization;

    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F50 - International Economics - - International Relations, National Security, and International Political Economy - - - General

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