Using Japanese microdata for the period 1980 to 2000 we find evidence for two transmission channels from financial shocks to foreign direct investment: a collateral channel, whereby changes in the value of investors' landholdings affect their borrowing ability; and a lending channel, whereby...

This paper identifies a “border” effect in the absence of a border. The finding that trade between East- and West-Japan is 23.1 to 51.3 percent lower than trade within both country parts, is established despite the absence of an obvious east-west division due to historical borders, cultural...

This paper deals with the trade and welfare effects of a potential bilateral trade agreement between the US and Japan. A possible agreement is currently being discussed between Washington and Tokyo, although, there is also the alternative for the US government joining Trans-Pacific Partnership...

We show that σ-convergence in regional productivity growth can be approximated by σ-convergence in sectoral productivity growth and σ-convergence in structural transformation-led productivity growth. Applying this framework to Japanese prefecture-level data from 1874 to 2008, we find support...

Using Japanese microdata for the period 1980 to 2000 we find evidence for two transmission channels from financial shocks to foreign direct investment: a collateral channel, whereby changes in the value of investors' landholdings affect their borrowing ability; and a lending channel, whereby...

This paper identifies a "border" effect in the absence of a border. The finding that trade between East- and West-Japan is 23.1 to 51.3 percent lower than trade within both country parts, is established despite the absence of an obvious east-west division due to historical borders, cultural...

The main objective of this paper is to understand how the changes in the macroeconomic conditions (the global financial crisis) relate to the investment and financial decision-making for each of the different size categories of SMEs. To do so, we use a large dataset of 764,963 observations in...