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Impacts of currency fluctuations on Japanese foreign direct investment

Chadee, Doren D. and Crow, Don 1997, Impacts of currency fluctuations on Japanese foreign direct investment, Asia Pacific journal of marketing and logistics, vol. 9, no. 3, pp. 40-52, doi: 10.1108/eb010291.

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Title Impacts of currency fluctuations on Japanese foreign direct investment
Author(s) Chadee, Doren D.ORCID iD for Chadee, Doren D.
Crow, Don
Journal name Asia Pacific journal of marketing and logistics
Volume number 9
Issue number 3
Start page 40
End page 52
Total pages 13
Publisher Emerald Group Publishing
Place of publication Bingley, England
Publication date 1997
ISSN 1355-5855
Keyword(s) currency fluctuations
foreign direct investment
Summary The Japanese currency has appreciated substantially against most other currencies over the last two decades. During the same time Japan has become one of the world's largest providers of FDI. Japan's share of total FDI outflows increased from about 6 percent during the late 70's to 21 percent in 1990 while its share of the total stock of FDI in the world increased from less than 1 percent in 1960 to more than 13 percent in 1993. Not surprisingly, Japan's role in international business in general and its FDI activities, in particular, have attracted considerable attention from researchers world wide. However, much of this attention has been directed towards the patterns and determinants of Japanese foreign direct investment, in particular to the United States. The impact of changes in the value of the Yen on Japanese FDI has been largely overlooked. Thus, this paper fills an important gap in the literature by focusing on the influence of changes of the exchange rate on Japanese foreign direct investment. A comprehensive simultaneous equa-tion model of Japanese FDI is developed on a regional level to gauge the extent to which currency fluctuations affect Japanese FDI activities. The results suggest that the exchange rate is an effective mechanism through which to influence FDI. Thus, the exchange rate should not be overlooked by the World Trade Organisation in its efforts to further liberalise investment through the Multilateral Agreement on Investment.
Language eng
DOI 10.1108/eb010291
Field of Research 159999 Commerce, Management, Tourism and Services not elsewhere classified
Socio Economic Objective 970115 Expanding Knowledge in Commerce, Management, Tourism and Services
HERDC Research category C1.1 Refereed article in a scholarly journal
Copyright notice ©2007, Emerald Backfiles
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Document type: Journal Article
Collection: School of Management and Marketing
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