Abstract
The 1997–8 Asian financial crisis indicates the growing interdependence existing between EU and Asian economies. Excessive reliance upon international capital flows is currently seen as one of the main explanatory factors of this turmoil, combined with an inappropriate allocation of domestic resources and the many distortions induced by market-unfriendly policies. The rapid depreciation of most Asian currencies against both the US dollar and major European currencies may enhance the comparative advantage of these countries. However, the collapse of domestic demand in the ASEAN countries has induced a cautious attitude on the part of foreign investors, who had to postpone or cancel several projects. In addition, they had to reconsider or even to change drastically their strategy aimed at implementing — within their business group — an international division of labor, and therefore international trade flows between their subsidiaries.
Funding from the CNRS/Forbairt program is greatly acknowledged.
Funding from the CNRS, Forbairt program and Japan Foundation are greatly acknowledged.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
References
Andreosso-O’Callaghan, B. (1999) ‘Japanese Manufacturing Investment in France in a EU Comparative Framework — Theory and Practice,’ in F. P. Cerase, F. Mazzei, and C. Molteni (eds.) Japan and the Mediterranean World (Napoli: Fridericiana Varia), 145–77.
Beamish, P. W., Delios, A., and Lecraw, D. (1997) Japanese Multinationals in the Global Economy (Aldershot: Edward Elgar).
Darby, J. (1996a) ‘Less Successful Strategies: Japanese Manufacturing in Southern Europe,’ South European Society & Politics, 1: 1, 24–46.
Darby, J. (1996b) Japan and the European Periphery (London: Macmillan).
Dicken, P. (1998) Global Shift — Transforming the World Economy (London: Paul Chapman).
Dunning, J. H. (1981) International Production and the Multinational Enterprise (London: Allen Sc Unwin)
Ethier, W. J. ‘Regionalism in a Multilateral World,’ Journal of Political Economy, 106: 6, 1214–45.
European Commission (EC) (1997), ‘Agenda 2000 — For a Stronger and Wider Union,’ Bulletin of the European Union, Supplement 5/97, Brussels.
Hasegawa, S. (1996) ‘Determinants of Japanese Firms’ Entry Modes in Europe,’ Globalisation et Régionalisation, Conference Internationale en Sorbonne, Paris (May 29–30).
Helpman, E. (1987) ‘Imperfect Competition and International Trade: Evidence from Fourteen Industrial Countries’. Journal of the Japanese and International Economies, 1, 62–81.
Helpman, E. and Krugman, P. (1985) Market Structure and Foreign Trade: Increasing Return, Imperfect Competition and the International Economy (Cambridge, Mass., MIT Press).
Horaguchi, H. (1992) Nihon kigyo no kaigai chokusetsu toshi, Asia he no shinshutsu to tettai (Foreign Direct Investment in Japanese Firms, Investment and Disinvest ment in Asia) (Tokyo: University of Tokyo Press).
JETRO (various issues) (Japan’s External Trade Organization), White Paper on FDI (Tokyo: Jetro).
Kobayashi, H. (1997) ‘Globalization Strategy of the Japanese Automobile Industry,’ Conference Proceedings, Economic Relations between Europe and East Asia, Université Paul Valéry, Nîmes (June).
Mayer, T. and Mucchielli J. L. (1998) ‘Strategic Location Behaviour: The Case of Japanese Investments in Europe,’ Journal of Transnational Management Develop ment, 3: 3/4, 131–67.
MITI (1997) Kaigai jigyo katsudo chosa gaiyo (1997 A Survey of Japanese Firms’ Overseas Subsidiaries’ Activities) (Tokyo: MITI).
Morris, J. (1987) ‘Japanese Manufacturing Investments in the European Economic Community: The Effects of Integration’ (Brussels: Report to DG1, Commission of the EC).
Nagamoto, Y. (1990) ‘Japanese Investments Abroad: Past, Present and Future Japanese Presence in Europe,’ 1RES Discussion Paper (Université Catholique de Louvain).
Nemoto, E. (1999) ‘Japanese Investments in Spain,’ in F. P. Cerase, F. Mazzei and C. Molteni (eds) Japan and the Mediterranean World (Napoli: Fridericiana Varia) 197–212.
Sekiguchi, S. (1979) Japan Direct Foreign Investment (London: Macmillan).
Strange, R. (1993) Japanese Manufacturing Investment in Europe — Its impact on the UK Economy (London: Routledge).
Thiran, J. M. and Yamawaki, H. (1995) ‘Regional and Country Determinants of Locational Decisions: Japanese Multinational Firms in European Manufacturing,’ 1RES Discussion Paper, 95/7 (Université Catholique de Louvain).
Thomsen, S. (1993) ‘Japanese Direct Investment in the European Community: The Product Cycle Revisited,’ World Economy, 16: 3, 301–15.
Tokunaga S. (ed) (1992), Japan’s Foreign Investment and Asian Economic Inderdepen- dence: Production, Trade and Financial System (Tokyo: University of Tokyo Press).
Toyo Keizai Co. (1998a) Kaigai shinshutsu kigyo soran, kunibetsu hen (Yearbook of Japanese Foreign Subsidiaries, Classification by Countries) (Tokyo: Toyo Keizai Shinposha).
Toyo Keizai Co. (1998b), Kaigai shinshutsu kigyo soran, kaishabetsu hen (Yearbook of Japanese Foreign Subsidiaries, Classification by Companies) (Tokyo: Toyo Keizai Shinposha).
Wakasugi, R. (1997) ‘Missing Factors of Intra-industry Trade: Some Empirical Evidence Based on Japan,’ Japan and the World Economy, 9, 353–62.
Yamawaki, I. (1991) ‘Locational Decisions of Japanese Multinational Firms in European Manufacturing Industry,’ Department of Economics (Université Catholique de Louvain, mimeo).
Editor information
Editors and Affiliations
Copyright information
© 2001 Bernadette Andreosso-O’Callaghan and Jean-Pascal Bassino
About this chapter
Cite this chapter
Andreosso-O’Callaghan, B., Bassino, JP. (2001). Japanese Direct Investment in Asia and the European Union: Is There an Interdependence?. In: Andreosso-O’Callaghan, B., Bassino, JP., Jaussaud, J. (eds) The Changing Economic Environment in Asia. Palgrave Macmillan, London. https://doi.org/10.1007/978-0-230-28726-6_3
Download citation
DOI: https://doi.org/10.1007/978-0-230-28726-6_3
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-42800-7
Online ISBN: 978-0-230-28726-6
eBook Packages: Palgrave Economics & Finance CollectionEconomics and Finance (R0)