85 research outputs found
The "Hidden" Side of the "Flying-Geese" Model of Catch-Up Growth: Japan's Dirigiste Institutional Setup and a Deepening Financial Morass
Japan is in the eleventh year of stagnation with a prolonged financial malaise. Just a little over a decade ago, Japan's Phenomenal growth was admired and even feared as a juggernaut. Japanese scholars and policymakers came to often describe Japan's industrial advance in terms of the so-called "flying-geese" model of catch-up growth, a sanguine expression that has also been played up in the media. Japan once did play the role of Asia's lead goose before the burst of the 1987-1990 asset bubble. The model is useful in capturing the essence of Japan's successful industrial upgrading and Asia's trade-led growth but fails to explain why such a success would ever lead to the present economic predicament. This is because it ignores the institutional, especially financial, underpinnings of Japan's catch-up strategy. What were the key enabling institutional features of Japan's once effective FG catch-up strategy? How did they function? Why did they come to cause the 1987-1990 bubble and the current financial imbroglio? How will Japan be "reformed"? All these developments and issues need to be examined as path-dependent evolutionary events within a reformulated "flying-geese" model, and "institutional" model of FG catch-up.
Asia's Labour-Driven Economic Development, Flying-Geese Style: An Unprecedented Opportunity for the Poor to Rise?
flying-geese theory, trade, growth, poverty reduction, comparative advantage, recycling, labour-driven economic
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History Repeats Itself: Evolutionary Structural Change and TNCs' Involvement in Infrastructure Overseas, Flying-Geese Style
When any resource-scarce country reaches a stage of growth where resource-intensive heavy industry becomes a leading growth sector (and lifestyles turn increasingly energy-consuming), it is compelled to seek out resources overseas by making investments in project-specific infrastructure (and even in general-purpose infrastructure to cultivate goodwill). In this regard, a reformulated "flying-geese" paradigm (a stages model) of growth can shed light on such an economic behavior. The advanced West and their TNCs were once aggressively engaged in their hunt for overseas resources and markets under colonialism at the height of their heavy and chemical industrialization during the 19th-to-the early 20th century. Japan too followed suit in its drive to build up heavy industry and secure resources abroad. Most recently, China has entered such a growth stage, exhibiting a similar hanker for resources and emerging as a primary financier and developer of infrastructure in developing regions, notably in Africa, as part of its resource-seeking diplomacy
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Can the U.S. Remain an Attractive Host for FDI in the Auto Industry? New Labor Policy and Flexible Production
The author argues that the proposed EFCA, if enacted, would decrease the attractiveness of the United States for FDI in the auto industry
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Professor Kiyoshi Kojima's Contributions to FDI Theory: Trade, Structural Transformation, Growth, and Integration in East Asia
Professor Kojima of Hitotsubashi University is a leading Japanese economist in international economics. Two of his major ideas are reviewed: a theory of pro-trade FDI and an extended "flying-geese" theory of industrial development. Kojima's pro-trade FDI (which rests on the doctrine of comparative advantage) leads to a surprising discovery of David Ricardo's failure to see that the doctrine applies as equally to FDI flows as to trade flows. The recent phenomenon of production fragmentation is also built on the mechanism of pro-trade FDI. In Kojima's extended flying-geese theory of industrial development the sequence of imports-domestic production-exports further expands to the next phase of exports-outward FDI-imports, thereby completing a full circle from imports to imports. Its theoretical and policy implications are discussed against the backdrop of the rapid catch-up of Japan's neighboring countries that capitalize initially on inward FDI-and subsequently on outward FDI--as an engine of growth
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消费者导向型跨国公司如何影响新兴市场
亚当·斯密在《国富论》中提出经济增长的最终目的是消费,并且将收入水平分为 “必需品”、“便利品”和“娱乐品”消费三个层次。现代以消费者为中心的跨国公司 (CF-MNEs)一般生产“便利品”和“娱乐品”,尽管一些跨国公司也给当地加工供应 “必需品”(如雀巢的牛奶,KFC 的鸡肉和土豆)。大多数 CF-MNEs 起源于二战结 束后的发达国家,也有少数起家于二战前
Multinational Corporations and Endogenous Growth: An Eclectic-Paradigmatic Analysis
Endogenous growth theory recently originated in economics. Building on this theory, this chapter conceptualizes the phenomenon of endogenous growth in terms of some new ideas developed in the field of international business (IB). These ideas have so far been not linked to the notion of endogenous growth. On the other hand, mainstream economics has not made much progress in exploring the MNC-government relationships through which growth-inducing "mechanics" are created, a topic of great importance and research in the IB-related discipline. Both MNCs and governments complement each other in facilitating an efficient matching of ownership-specific assets (notably knowledge) with location-specific advantages, thereby enabling the developing host countries to realize potential growth I an intensified manner, a new mode of endogenous growth that counteracts the law diminishing returns. The phenomenon of MNC-cum-government-driven endogenous growth is thus conceptualized.
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工业化初期跨国公司的作用: . . .
FDI引领工业起飞模式正在取代幼稚工业理论(即用国内生产代替进口以保护国内工业),尽管其作为一种新的赶超模式还未被发展经济学的主流理论完全接受
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The role of multinationals in sparking industrialization: From "infant industry protection" to "FDI-led industrial take-off"
Although not yet fully conceptualized as a new catch-up model in mainstream development economics, the infant industry argument (protectionism designed to replace imports with domestic substitutes) is giving way to a foreign direct investment (FDI)-led model of industrialization
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Pax-Americana-led macro-clustering and flying-geese-style catch-up in East Asia: Mechanisms of regionalized endogenous growth
Rapid growth in East Asia (despite the 1997-98 crises) has been unique as it is clustered so intensively only in that particular region. The flying-geese model of industrial upgrading is applied to the emergence of Pax-Americana-led growth clustering. The high propensity of the U.S. to transplant manufacturing overseas, Japan's roles of structural intermediator and capacity augmenter, and catching-up economies' public policies are the key co-determinants of regionalized endogenous growth in East Asia
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