International Impacts on Domestic Political Economy: A Case of Japanese General Elections
The objective of this paper is twofold. First, this paper emphasizes that in a parliamentary system, such as in Japan, election timings become endogenous, in that good economic performances tend to trigger elections. Second, impacts of international factors, such as foreign exchange reserves and elections of the United States, on domestic economic performances will be examined in the context of political business cycles. This paper finds only a limited link between economic performances and international variables, except one that upcoming elections in the United States tend to cause a higher rate of growth in Japan. Evidence suggests that although blatant policies, such as a beggar-thy-neighbor policy, were not adopted, a more subtle international cooperation, in the form of Japanese expansion to pill up the United States economy, have been used.
|Date of creation:||Oct 1990|
|Date of revision:|
|Publication status:||published as Journal of International Money and Finance, Vol. 10, pp. S73-S89, (1991).|
|Contact details of provider:|| Postal: |
Web page: http://www.nber.org
More information through EDIRC
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.:
- Nordhaus, William D, 1975. "The Political Business Cycle," Review of Economic Studies, Wiley Blackwell, vol. 42(2), pages 169-90, April.
- Terrones, M.E., 1989. "Macroeconomic Policy Cycles Under Alternative Electoral Structures," UWO Department of Economics Working Papers 8905, University of Western Ontario, Department of Economics.
- Thomas F. Cargill & Michael M. Hutchison, 1988. "Political business cycles in a parliamentary setting: the case of Japan," Working Papers in Applied Economic Theory 88-08, Federal Reserve Bank of San Francisco.
- Ito, Takatoshi & Park, Jin Hyuk, 1988. "Political business cycles in the parliamentary system," Economics Letters, Elsevier, vol. 27(3), pages 233-238.
- William D. Nordhaus, 1989.
"Alternative Approaches to the Political Business Cycle,"
Brookings Papers on Economic Activity,
Economic Studies Program, The Brookings Institution, vol. 20(2), pages 1-68.
- William D. Nordhaus, 1989. "Alternative Approaches to the Political Business Cycle," Cowles Foundation Discussion Papers 927, Cowles Foundation for Research in Economics, Yale University.
When requesting a correction, please mention this item's handle: RePEc:nbr:nberwo:3499. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ()
If references are entirely missing, you can add them using this form.