Details of a Researcher - YOSHINO, Naoyuki

Reviews, Commentaries, etc. - YOSHINO, Naoyuki

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The role of public works in the political business cycle and the instability of the budget deficits in Japan

Naoyuki Yoshino, Tetsuro Mizoguchi

Asian Economic Papers 9 ( 1 ) 94 - 112 2010.12

ISSN 1535-3516

This paper discusses the Liberal Democratic Party's (LDP) ability to maintain a majority of seats in the Diet after WWII by focusing on the role of public investment. The paper discusses three periods, namely, (i) the high-growth period (1950 to 1985), (ii) the asset bubble period (1986 to 1990), and (iii) the period of economic downturn after the bubble (post 1990). During the highgrowth period, government investment had a strong positive output effect and it increased the tax revenue in the medium and long run. The high rate of private capital formation boosted growth and tax revenue even further. During the asset bubble period of the late 1980s, Japanese tax revenue increased due to high asset and property prices, and growth stayed high because of strong aggregate demand. The Japanese economy experienced slower growth after the asset bubble burst. The LDP continued its high-spending policy by issuing Japanese government bonds (JGB) to finance the deficits but has not been able to revive growth to previous levels. Accumulated government debt now amounts to 180 percent of GDP and it will be difficult to issue any more JGB. Fiscal policy in post-bubble Japan no longer fulfilled the stability conditions that were identified by Blinder and Solow (1974). © 2010 The Earth Institute at Columbia University and the Massachusetts Institute of Technology.

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日本経済回復のための信託手法の適用可能性 (信託経済コンファレンス--産業・社会構造の変化に対応しうる信託)

吉野直行

信託 (信託協会) ( 241 ) 51 - 64 2010.02

ISSN 0386-1368

Activity Report

YOSHINO Naoyuki

9 4 - 5 2010

Activity Report

吉野直行

Newsletter 市場の高質化と市場インフラの総合的設計慶應義塾大学大学院経済学研究科・商学研究科/京都大学経済研究所連携グローバルCOEプログラム 9 4 - 5 2010

BISIIIに見る国際基準決定方法の問題

吉野直行

経済の論点11, PHP Business Review ( 41 ) 62 - 63 2010

地域活性化としての公共・都市政策とPPP（Public Private Partnership）に関する国際ワークショップ

吉野直行

Newsletter 市場の高質化と市場インフラの総合的設計慶應義塾大学大学院経済学研究科・商学研究科/京都大学経済研究所連携グローバルCOEプログラム ( 6 ) 5 2010

金融政策を決定するのには多くの要素を盛り込む必要がある

吉野直行

経済の論点15, PHP Business Review ( 45 ) 62 - 63 2010

真の円高リスク

吉野直行

経済の論点16, PHP Business Review ( 46 ) 48 - 49 2010

法律を陳腐化させない機動性

吉野直行

経済の論点13, PHP Business Review ( 43 ) 62 - 63 2010

政治空白が日本経済を後退させる

吉野直行

経済の論点12, PHP Business Review ( 42 ) 80 - 81 2010

年金破綻と消費税アップのどちらを選択するか

吉野直行

経済の論点14, PHP Business Review ( 44 ) 62 - 63 2010

On the economic interdependence between China and Japan: Challenges and possibilities

Claes G. Alvstam, Patrik Strom, Naoyuki Yoshino

ASIA PACIFIC VIEWPOINT (WILEY-BLACKWELL PUBLISHING, INC) 50 ( 2 ) 198 - 214 2009.08

ISSN 1360-7456

The paper presents an analysis of the economic relationship between the two most important economies in Asia. Over the last decades, the Chinese and Japanese economies have become more economically interdependent, a development which will, in the long run, impact the countries' political relationship. The paper seeks to answer the question: How can China and Japan gain from the current economic situation, further enhance their relationship and increase their synergies for regional economic development? Data on trade and Foreign Direct Investment are used in combination with primary data from interviews with Japanese and Chinese companies on how they perceive the current business situation and future potential. The result of the data analysis shows that the countries have much to gain from their economic interdependence. The firms see great potential in their respective markets but are concerned about political turbulence. Three possible scenarios for the future economic relationship are presented, including fierce competition on all markets and a leveraging of resources for mutual development between Chinese and Japanese companies.

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Japanese financial service firms in East and Southeast Asia: Location pattern and strategic response in changing economic conditions

Patrik Strom, Naoyuki Yoshino

ASIAN BUSINESS & MANAGEMENT (PALGRAVE MACMILLAN LTD) 8 ( 1 ) 33 - 58 2009.03

ISSN 1472-4782

This paper explores the internationalization and location pattern of Japanese financial service firms in East and Southeast Asia. During a period of prolonged economic problems in the Japanese domestic market and a turbulent period in Asia because of the Asian financial crisis of 1997, the situation for these service providers has changed drastically. The research question that the paper seeks to answer is: what are the spatial patterns and underlying reasons for strategic location response in Japanese financial service providers in East and Southeast Asia in the post-Asian financial crisis period? The paper puts forward a set of potential responses that these firms can pursue to strengthen their regional competitiveness.