THE EFFECT OF THE SEMICONDUCTOR TRADE AGREEMENT ON JAPANESE FIRMS

Craig Parsons ()
Additional contact information
Craig Parsons: Faculty of Economics, Yokohama National University, 79-1 Tokiwadai, Hodogaya, Yokohama, Japan 240-8501, Japan

The Singapore Economic Review (SER), 2005, vol. 50, issue 01, 117-129

Abstract: This paper investigates the impact of the 1986 US-Japan Semiconductor Trade Agreement (STA) and antidumping actions by the US on Japanese firms. We conduct an event study employing WLS and OLS estimations on the daily returns of eight large electronics firms over roughly a two year period. We find that the STA had a positive effect on the daily returns while the antidumping rulings were found to be insignificant. These results are consistent with some authors' views that the STA policy may have facilitated collusive behavior to the benefit of not only US, but Japanese firms as well. These results shed some light on the ambiguous results found in the Voluntary Import Expansion (VIE) literature.

Keywords: VIE; STA; event study; semiconductors; antidumping (search for similar items in EconPapers)
Date: 2005
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
http://www.worldscientific.com/doi/abs/10.1142/S0217590805001883
Access to full text is restricted to subscribers

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wsi:serxxx:v:50:y:2005:i:01:n:s0217590805001883

Ordering information: This journal article can be ordered from

DOI: 10.1142/S0217590805001883

Access Statistics for this article

The Singapore Economic Review (SER) is currently edited by Euston Quah

More articles in The Singapore Economic Review (SER) from World Scientific Publishing Co. Pte. Ltd.
Bibliographic data for series maintained by Tai Tone Lim ().