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691. New Frontiers for U.S. - Japan Security Relations

Author:
Christopher J. Makins, L. Gordon Flake, and Akio Watanabe
Publication Date:
02-2002
Content Type:
Policy Brief
Institution:
Atlantic Council
Abstract:
A strong U.S.-Japan security alliance remains in dispensable to the interests of both partners in East Asia and beyond. Through strategic cooperation, both formal and informal, the United States and Japan can achieve international objectives that would otherwise be out of reach. Bilateral cooperation also contributes to the kind of stable, predictable relations on which the increasingly interdependent economies of the East Asian region depend.
Topic:
Security and International Cooperation
Political Geography:
United States, Japan, Israel, and East Asia

692. History 1, Soccer 0

Author:
Allan Song
Publication Date:
07-2002
Content Type:
Policy Brief
Institution:
Center for Strategic and International Studies
Abstract:
As the World Cup soccer tournament, co-hosted by South Korea and Japan, was beginning, Mr. Aidan Foster-Carter raised the issue of whether the two countries could take advantage of the unprecedented occasion to finally overcome their decades of hostility and forge a truly lasting friendship (“South Korea and Japan: High Time These Neighbors Put Future Before Past,” PacNet No. 22A, June 3, 2002). Although it was an interesting essay, I found the ending odd. He concluded by asking whether South Korea and Japan could finally move forward, but he coyly avoided an answer although it seemed that the answer was obvious to him.
Topic:
Security
Political Geography:
Japan, Israel, Asia, and South Korea

693. Japan-U.S. Telecomunications Negotiations in A New Phase: States and Markets - Final Report by the STudy group on U.S. foreign Economic Policy Making Process

Author:
Toru Nakakita, Hajime Yamada, and Yuko Sada
Publication Date:
11-2002
Content Type:
Working Paper
Abstract:
For more than two decades, Japan and the United States have negotiated over trade in telecommunications equipment and services. Under the changing circumstances, however, Japan-US telecommunications negotiations entered upon a new phase in the late 1990s. The issue of telecommunications equipment is no longer on the table. Instead, the issue of telecommunications services has become a major point of contention, further internationalizing domestic regulatory politics. Last but not least, the World Trade Organizations (WTO) Telecom Pact of 1997 provided the parties with new opportunities and constraints, possibly altering the course of interactions among them.
Topic:
Industrial Policy
Political Geography:
United States, Japan, and Israel

694. The Looming Japanese Crisis

Author:
Adam S. Posen
Publication Date:
05-2002
Content Type:
Policy Brief
Institution:
Peterson Institute for International Economics
Abstract:
After more than a decade of economic stagnation and minimal structural change, Japan stands on the brink of outright financial crisis—the only debate is whether the Japanese government can dodge its imminent economic threats for another six months at most, or ride the wave of global expansion to throw still more money at these problems with decreasing effectiveness until the public debt becomes unsustainable (which should be no later than 2005). Either way, volatility in Japanese asset markets will be extremely high for the next 36 months, with significant declines on average in asset prices and the yen.
Topic:
Economics, Government, and International Trade and Finance
Political Geography:
Japan, Israel, and East Asia

695. Passive Savers and Fiscal Policy Effectiveness in Japan

Author:
Adam S. Posen and Kenneth N. Kuttner
Publication Date:
04-2002
Content Type:
Working Paper
Institution:
Peterson Institute for International Economics
Abstract:
The efficacy of fiscal policy in Japan in the last decade has been a subject of considerable dispute, and the coincidence of mounting deficits and continued stagnation has led some to conclude that fiscal policy was ineffective. This paper finds ample support for the opposite conclusion: exogenous fiscal policy shocks (as derived from a structural vector-autoregression model) had pronounced real effects in Japan. Expansionary fiscal policy was expansionary, and contractionary policy contractionary, consistent with the implications of conventional macroeconomic theory. A historical decomposition shows that Japan's burgeoning public debt stems almost entirely from the recession-caused slowdown in revenue growth, and that fiscal policy was at times procyclical rather than consistently expansionary. Direct examination of the long-run relationship between private saving, taxes, and spending confirms that any Ricardian effects of future public liabilities on saving were insufficient to offset the direct first-order effects of taxes and public expenditures. The passivity of Japanese savers therefore seems to have contributed to the efficacy of fiscal policy; otherwise, some combination of increased saving, capital outflow, and higher interest rates would have diminished its impact.
Topic:
Economics, International Trade and Finance, and Political Economy
Political Geography:
Japan, Israel, and East Asia

696. Evolution of Japan's Policy Toward Economic Integration

Author:
Naoko Munakata
Publication Date:
12-2001
Content Type:
Working Paper
Institution:
The Brookings Institution
Abstract:
On October 22, 2000, Japanese Prime Minister Yoshiro Mori and Singapore Prime Minister Goh Chok Tong agreed to formal negotiations for the Japan-Singapore Economic Agreement for a New Age Partnership (JSEPA) in January 2001, in light of the September 2000 report from the Japan-Singapore Free Trade Agreement (JSFTA) Joint Study Group. It was the first time Japan entered into negotiations concerning regional economic integration. With a strong emphasis on the need to address the new challenges globalization and technological progress pose; the Joint Study Group explored a possible .New Age FTA. between the two countries, which Prime Minister Goh proposed in December 1999. Thus, for Japan the JSEPA marked a major turning point in promoting regional economic integration.
Topic:
Security, Foreign Policy, and International Trade and Finance
Political Geography:
Russia, United States, Japan, China, Europe, Israel, and Asia

697. The Japan-China Summit and Joint Declaration of 1998: A Watershed for Japan-China Relations in the 21st Century?

Author:
Kazuo Sato
Publication Date:
01-2001
Content Type:
Working Paper
Institution:
The Brookings Institution
Abstract:
The November 1998 state visit to Japan by Chinese President Jiang Zemin was historically significant in that it was the first visit to Japan by a Chinese head of state. However, many people, including policymakers in Japan, had the impression that the visit not only failed to promote Japan-China relations, but actually strengthened anti-Chinese sentiments among the Japanese public. Nevertheless, both governments treated the Japan-China Joint Declaration On Building a Partnership of Friendship and Cooperation for Peace and Development—issued by the two governments on the occasion of visit—as a third important bilateral document, following the 1972 Joint Communiqué and the 1978 Treaty of Peace and Friendship. The two sides repeatedly have stressed that all problems should be handled in line with these three documents. There is a belief, especially among policymakers, that the 1998 Joint Declaration will be the bilateral framework upon which a strong partnership will be built for at least the first decade of the 21st century.
Topic:
Security, Foreign Policy, and International Trade and Finance
Political Geography:
Russia, United States, Japan, China, Europe, Israel, East Asia, and Asia

698. The Use of Cyclical Indicators in Estimating the Output Gap in Japan

Author:
Jane Haltmaier
Publication Date:
04-2001
Content Type:
Working Paper
Institution:
Board of Governors of the Federal Reserve System
Abstract:
The paper uses capital and labor utilization rates to derive estimates of the Japanese output gap and potential output. Two techniques are used. The first uses the cyclical indicators to adjust potential output estimates derived from a Hodrick-Prescott filter over the most recent period when such estimates are generally considered to be unreliable. The second estimates equilibrium levels of the cyclical indicators and uses an Okun's Law-type relationship to derive output gaps and potential output. The second method is also applied to the components of potential output to derive a third estimate. These methods suggest that the current Japanese output gap is considerably larger than a simple Hodrick-Prescott filter would suggest.
Topic:
Economics, Emerging Markets, and International Trade and Finance
Political Geography:
United States and Japan

699. Linkage and Legalism in Institutions: Evidence From Agricultural Trade Negotiations

Author:
Christina Davis
Publication Date:
02-2001
Content Type:
Working Paper
Institution:
Weatherhead Center for International Affairs, Harvard University
Abstract:
In a comparative study of Japanese and European trade policy, this paper explains how the institutional context of negotiations affects political outcomes. I examine two pathways by which negotiation structure promotes liberalization: issue linkage and legal framing. Broadening stakes through issue linkage mobilizes domestic lobbying for liberalization. Use of GATT/WTO trade law in dispute settlement legitimizes arguments favoring liberalization. This study on international institutions addresses the theoretical debates in the field regarding how interdependence and the legalization of international affairs change the nature of state interaction.
Topic:
International Political Economy and International Trade and Finance
Political Geography:
United States, Japan, Europe, and Israel

700. Asian Perspectives on the Challenges of China

Publication Date:
01-2001
Content Type:
Working Paper
Abstract:
The Institute for National Strategic Studies (INSS) held its annual Pacific symposium on “Asian Perspectives on the Challenges of China” at the National Defense University in Washington on March 7 and 8, 2000. This event brought together representatives of the policy community and academe from Australia, the People's Republic of China, India, Japan, the Republic of Korea, Singapore, Thailand, and the United States. It focused on how perceptions of China influence defense and foreign policies in key nations of the Asia- Pacific region, how the likely course of developments in China might affect the future policies of countries in the region, and how such changes might impact on their security relations with the United States.
Topic:
Security, Defense Policy, and International Law
Political Geography:
United States, Japan, China, India, Korea, Singapore, and Thailand