TY  - JOUR
AU  - Froot,Kenneth A.
TI  - Japanese Foreign Direct Investment
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 3737
PY  - 1991
Y2  - June 1991
UR  - http://www.nber.org/papers/w3737
L1  - http://www.nber.org/papers/w3737.pdf
N1  - Author contact info:
Kenneth A. Froot
Graduate School of Business
Harvard University
Soldiers Field
Boston, MA 02163
Tel: 617/495-6677
Fax: 617/496-7357
E-Mail: kfroot@hbs.edu
M2  - featured in NBER digest on 1991-09-01
AB  - Japan's outflows of foreign direct investment (FDI) have increased dramatically in recent years, to the point where Japan has become the world's largest overseas direct investor. This paper documents the increase in Japanese FDI, as well as its breakdown across industries and countries. Investments in real estate and financial services have grown most rapidly, as has Japanese FDI into North America, which now accounts for fully half of Japan's outflows. The paper then goes on to discuss and evaluate some of the most popular explanations for this explosion in investment: Japanese current account surpluses; actual or anticipated protectionism abroad; appreciated stock prices and value of the yen; and changes in international tax policy.
ER  -