Postavenie Japonska v globalizačných procesoch vo svetovom hospodárstve

The Japan chance in globalization of international business

Peter Baláž

Politická ekonomie, 2000, vol. 2000, issue 2

Abstract: The serious economic problems that Japan is facing in last five years are different from those having faced in the past. They are based on least three factors. The first reason of it are the structural problems: most of them previously acted been positively factors in post-war performance of Japan's economy (structure of the industry, export promotion, tax system, interest rate-policy of the banks, etc.) The second groups of these factors consist of unfavourable impact of cyclical factors (businessboom-recession), bad loan problem consisting of the mid-term bubble position of the Japan banking system and its potential risks. There is also neccessary to take into account a group of domestic problems, such as the high cost of domestic Japanese firms which is influences the positions of these firms in the global competition (the cost of the land, the level of coporate tax, etc.). The mixture of various short-term and long-term factors complicates decision-making on that what kind of measures should be taken. The question of priority between two policies, domestic demand increase policy or financial deficit cut policy is one of the most difficult issues. Author tries to analyze the role of the industry and restructuring policy, government institutions, etc., regarding development of the Japan foreign trade policy and the influence of the "endaka" (development of the USD-Yen exchange relations) and Japanese FDI. The conclusion of this article undelines that the direction in which Japan is heading to globalization is the right one, with high development prospects

Keywords: economic cooperation; economic crisis in Japan; export's position and FDI; influence of research and education; program of stabilization; structural changes (search for similar items in EconPapers)
Date: 2000
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DOI: 10.18267/j.polek.132

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