When one looks back on the postwar economy of Japan, it can be said that I, in my own way, adopted a hypothesis regarding the role of the fixed exchange rate that lasted for over two decades, beginning in April 1949. Because that exchange rate remained constant for so long, there was no...

I. Direct foreign investment: Time of change: For more than two decades, direct foreign investment (DFI) and its bearer, multinational corporations (MNC), have continued to attract great attention from the public. This is because overseas expansion of enterprises has been recognized as vital and...