In the first, 1987, edition of this book, Dr. Higashi and Dr. Lauter have discussed and analyzed the initial stages of the internationalization process The authors with Michio Watanabe at a reception in Hakone, Japan, 1988. xvi THE INTERNATIONALIZATION OF THE JAPANESE ECONOMY of the Japanese economy as it had evolved between 1985 and 1986. In this, the second, edition, they explore the developments during 1985-1988 and show how the gradual transformation of the economy from export-Ied to domestic demand-Ied growth has taken place, what the results of the trans formation process are, what remaining problems still have to be resolved, and what directions the Japanese economy might take in the future. While the transformation process is by no means completed, Drs. Higashi and Lauter provide a broad, policy-analysis based overview that enables the reader to understand not only the economic but also the basic political and social issues involved in the internationalization process. In this sense, the authors stay away from the extreme positions that characterize so many of the publications on Japan today and attempt to provide a realistic view of the changes and the impact of these changes. I believe that this book is a fair and balanced representation of events.
Inhaltsverzeichnis
1. The Path to Economic Power. - Objectives of This Book. - The Evolution of the Japanese Economy. - The Evolution of U. S. -Japan Trade Conflicts. - 2. The Origins of Internationalization. - Major Controversies. - America s International Competitiveness. - The Inadequacy of the Trade Balance Measure. - 3. The Action Program and Ongoing U. S. -Japan Trade Conflicts. - The 1981 1984 Japanese Market Opening `Packages . - The Spring 1985 U. S. -Japan Trade Developments. - Reasons For The Action Program. - Prime Ministerial Leadership Styles. - The Changing Policy Formulation Process. - Scope of the Action Program. - Reactions Abroad. - Ongoing U. S. -Japan Trade Conflicts. - 4. The Maekawa Commission Reports and the Potential Constraints on Internationalization. - Selected MITI Visions and Other Views. - The Original Maekawa Commission Report and Its Reception. - The Follow-Up Maekawa Commission Report. - The Domestic Discussion of Internationalization. - Sociocultural Considerations. - Economic Policy Constraints. - 5. Selected Trends in the Domestic Economy. - Economic Trends. - Endaka or the High Yen. - Changing Social Stratification. - Consumer Market Trends. - The Distribution System. - Advertising. - Foreign Direct Investment in Japan. - 6. Deregulation of the Financial Sector. - Policy Considerations. - The Internationalization of the Yen. - The Tokyo Stock Exchange. - Futures Market. - The Bond Market. - Short-Term Markets. - Deregulation of Interest Rates. - The Banking System. - Funds Market. - 7. The domestic Policy Options. - The Tax Reform. - Infrastructure Investments. - Increased Housing Investments. - Privatization. - Research and Development. - Reduction of Working Hours. - 8. The International Policy Options. - Overall Foreign Direct Investments. - Investments in the United States. - Investments in WesternEurope. - Investments in the Asian Pacific Region. - Official Development Assistance. - 9. Looking Ahead. - The Economy and Trade. - Unresolved Domestic Concerns. - Japan s International Role. - Selected Corporate-Level Developments. - Concluding Observations. - Additional Considerations. - Appendices. - A The Repetitive Pattern of U. S. -Japan Trade Conflicts. - B Financial Deregulation Measures: 1985 to Mid-1989. - C Highlights of the 1989 Insider Trading Regulations. - D 1989 Captial Gains Tax Law. - E Non-Japanese TSE Members as of January 1989. - F Interest Rate Liberalization Through 1988. - G Bank of International Settlements Guidelines. - H The Key Points of the 1988 U. S. -Japan Science and Technological Agreement. - About the Authors.
