Preview

MGIMO Review of International Relations

Advanced search

JAPAN IN INTERNATIONAL CAPITAL MOVEMENT

https://doi.org/10.24833/2071-8160-2016-4-49-274-285

Abstract

Japan, the largest net exporter of investment plays one of key roles in the in-ternational capital flows and has a serious impact on the global trends in this important dimension of international economic relations. Vast amounts of for-eign direct investment (FDI) outflow are important for the Japanese national economy as well, since Japanese overseas production in some areas reaches 40% and is an important part of its industrial potential. However, FDI inflow remains low, indicating an unbalanced participation of Japan in the international capital flows. Japan in international capital flows presents a field for complex numerous research. This article concentrates on analysis of dynamics and geographical structure of capital flows, reveal the trends, and estimate the effect of Abenomics.

About the Author

S. M. Rebrey
Moscow State Institute of International Relations (University)
Russian Federation

PhD in Economics, senior lecturer of world economy,

76 Prospect Vernadskogo, Moscow, 119454



References

1. Abe S. Atarashii kuni-he, utsukushii kuni-he. Tokyo, 2013. 232 p. (In Japanese)

2. Gerasimova M.P. Razmyshlenija Abje Sindzo o krasivoj i obnovljonnoj Japonii. Japonija: konservativnyj povorot. Moscow, AIRO-HHI. 2015. Pp. 258-274. (In Russian)

3. Investory razocharovalis' v abjenomike. Vesti. Jekonomika. URL: http://www.vestifinance.ru/articles/51532.

4. Leont'eva E.L. Jekonomika Japonii v 2014 godu: uspehi i problemy «abjenomiki». Aktual'nye problemy sovremennoj Japonii. Vypusk XXIX. Moscow: IDV RAN, 2015. 272 p.

5. Pribyl' Banka Japonii dostigla maksimuma za 13 let. Vesti. Jekonomika. URL: http://www.vestifinance.ru/articles/57927.

6. Bulatov A.S. (ed.) Rossijskaja model' jeksporta kapitala. Moscow. MGIMO-University, 2014. 120 p.

7. Strel'cov D. Nekotorye prioritety vneshnepoliticheskogo kursa vtorogo kabineta S. Abje. Japonija v poiskah novoj global'noj roli = Japan in search of a new global role. Moscow: Vost. lit., 2014. 303 p.

8. Timonina I.L. Investicionnyj klimat v Japonii i problema privlechenija prjamyh inostrannyh investicij. Mirovoe i nacional'noe hozjajstvo. 2012. № 2(21). URL: http://mirec.ru/2012-02/investicionnyj-klimat-v-yaponii-iproblema-privlecheniya-pryamyh-inostrannyh-investicij.

9. Japonija ot A do Ja. Moscow, Izd-va «Japonija segodnja». 2012. 640 p.

10. Asian Investor Institutional Excellence Award 2015. Government Pension Investment Fund. URL: http:// www.gpif.go.jp/en/topics/pdf/20151216_excellence_awards.pdf.

11. Bank of Japan. URL: http://www.stat-search.boj.or.jp/.

12. Chiang M.H. Japan's Growing Outward Direct Investment in East Asia. Thunderbird International Business Review. 2015. No. 4. pp. 431–444.

13. Designated Company List. URL: http://www.invest-ja-pan.go.jp/investment_advisor_assignment_system/designated_company_list_en.pdf.

14. Five Promises for Attracting Foreign Businesses to Japan. Invest Japan. URL: http://www.invest-japan.go.jp/promotion/promise_en.pdf.

15. Fujioka T., Kennedy S. Abe Listening to Krugman After Tokyo Limo Ride on Abenomics Fate. Bloomberg. URL: http://www.bloomberg.com/news/articles/2014-11-21/abe-listening-to-krugman-after-tokyo-limo-rideon-abenomics-fate

16. Inoguchi T. A call for a new Japanese foreign policy: the dilemmas of a stakeholder state. International Affairs. 2014. Vol. 90, issue 4. Pp. 943–958.

17. Invest Japan. Cabinet Office, URL: http://www.invest-japan.go.jp/en_index.html.

18. Japan Exchange Group, URL: http://www.jpx.co.jp/.

19. Japan's Inward FDI by Country/Region (Balance of Payments basis, net and flow) JETRO. URL: https://www. jetro.go.jp/en/reports/statistics/

20. Japan's Outward FDI by Country/Region (Balance of Payments basis, net and flow) JETRO. URL: https:// www.jetro.go.jp/en/reports/statistics/

21. JETRO Global Trade and Investment Report 2015. JETRO, 2015. URL: https://www.jetro.go.jp/en/reports/white_paper/

22. Melvin M. and X. Yin Public Information Arrival, Exchange Rate Volatility, and Quote Frequency. Economic Journal. 2000. Vol.110. Pp. 644–651.

23. Neely C.J., Brett W.F. Capital Flows And Japanese Asset Volatility. Pacific Economic Review. 2012. Vol 17, no. 3. Pp. 391–414.

24. Results of JETRO’s 2014 Survey on Business Conditions of Japa-nese-Affiliated Firms in the U.S. JETRO. 2015. URL: https://www.jetro.go.jp/ext_images/en/reports/survey/pdf/2015_04_biz1.pdf

25. Riley C. Japan now holds more U.S. debt than China CNN Money. URL: http://money.cnn.com/2015/04/15/news/economy/japan-china-us-debt-treasury/index.html

26. Stiglitz J. The Promise of Abenomics. Project Syndicate. URL: http://www.project-syndicate.org/commentary/shinzo-abe-and-soaring-confidence-in-japan-by-joseph-e--stiglitz?barrier=true

27. Strategy of Global Outreach URL: http://japan.kantei.go.jp/96_abe/documents/2013/1200485_7321.html.

28. Tokyo Stock Index Price. URL: http://www.jpx.co.jp/english/markets/indices/line-up/files/e_fac_3_topix.pdf

29. Ueda K. Response of Asset Prices to Monetary Policy under Abenomics. Asian Economic Policy Review. – 2013. – vol. 8, issue 2. – pp. 252–269.

30. UNCTAD stat. URL: http://unctadstat.unctad.org/wds/TableViewer/tableView.aspx

31. World Bank Data URL: http://data.worldbank.org/country/japan

32. World Development Report 2015. World Bank, 2015 . URL: http://www.worldbank.org/en/publication/ wdr2015

33. World Economic Outlook 2015 / International Monetary Fund . 2015. URL: http://www.imf.org/external/ pubs/ft/weo/2015/01/pdf/text.pdf.

34. World Investment Report 2015 // UNCTAD. 2015. URL: http://www.worldinvestmentreport.org/wir2015/ wir2015-ch1-global-investment-trends/#global-fdi-fell-in-2014


Review

For citations:


Rebrey S.M. JAPAN IN INTERNATIONAL CAPITAL MOVEMENT. MGIMO Review of International Relations. 2016;(4(49)):274-285. (In Russ.) https://doi.org/10.24833/2071-8160-2016-4-49-274-285

Views: 1343


Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 License.


ISSN 2071-8160 (Print)
ISSN 2541-9099 (Online)