The roots of Japanese manufacturing's competitive edge

Article Abstract:

Japanese manufacturing's trade success has been heterogenous in recent years, with some industries such as basic metals and motorcycles faltering. On the whole, Japanese industry's high performance has been due to differentials in the application of high-productivity process technology and in product quality. External pressures for trade restraint, primarily from the U.S., help explain some of the distinctive aspects of Japanese industry, like the MITI agency's coordination of industrial cartels, and Japanese executives' focus on product integrity rather than financial portfolio management. Technological research and development expenditures in Japan reached 2.44 percent of GNP in 1983, a ratio surpassing the U.K.'s and slightly less that that of the U.S. In patent license payments, Japan remains a net importer (largely from the U.S. and Europe); however, Japan has been a net exporter of new licenses, largely to less developed countries, for over a decade.

High technology, Automation, Industrial management, Labor productivity

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Dirigisme at the core of French approach to inward investment

Article Abstract:

France's policy of restricting foreign investment from other countries was changed in 1966, when France decided that inward investment was necessary for expansion. The new foreign investment regulations created several categories of financing and investment. The Finance Ministry had 40 days to review proposals of foreign acquisitions of industrial property, expertise, and technical assistance. France continued to encourage inward investment during the 1980s and simplified the administrative procedures for foreign investors in 1985. Restrictions, especially those for greenfield investment, were relaxed in 1988, leading to a 30% growth in inward investment in 1989. Foreign investment in France may not be as attractive as it appears because France is exhibiting a liberal attitude toward inward investment, while maintaining the option of increasing restrictions.

Economic aspects, France, Industrial policy

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Japan - a legacy of obstacles confronts foreign investors

Article Abstract:

Japan contiues to carry a stringent foreign investment policy, despite the government's attempts to ease restrictions through the years. A historical inspection of Japanese policy from the 1960s to the 1990s shows that the strategies formulated for foreign investment remain self-serving. Barriers to an open investment policy are eased only when it is evident that Japanese industries are capable of competing with their foreign investment counterparts. The process of liberalizing foreign investment policy takes on the appearance of a highly orchestrated process.

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