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This paper argues that, apart from exchange-rate aspects, the East Asian economic crisis has looked very similar to a domestic banking crisis arising from boom and bust cycles in bank lending and capital investment. One of the key determinants of the boom-bust cycle in East Asia was the sharp appreciation of the yen against the dollar between the mid-1980s and the mid-1990s, and its subsequent depreciation. Real investment and speculative financial capital within and into East Asia responded too much to the yen movements. The paper also discusses factors behind large medium-term movements in the yen-dollar rate. [ABSTRACT FROM AUTHOR]

Abstract: There is no questioning the immensity of change in Tokyo’s urban landscape over the last few decades, despite the difficulties faced by the Japanese economy. This transformation results from a vigorous promotion of urban restructuring by the state and a keen uptake by corporations. The question examined here is the extent to which Tokyo fits into a palette of policies generally seen as neoliberal and, more generally, how and where Tokyo fits into global narratives of urban change. In order to put some perspective on the nature of urban change in Tokyo, three themes are pursued here that are generally considered to indicate a neoliberal policy turn: a territorial rescaling designed to concentrate energies on places of economic strength; a relaxation of regulations facilitating urban restructuring; and housing and other social policies resulting in residential segregation and producing greater social inequality which finds a spatial expression. In doing this, the paper reviews recent debates in the literature on Tokyo, debates that suggest a difference in view between those who see urban life-spaces as conditioned increasingly by a neoliberal policy approach and others for whom the pattern and spaces of life in Tokyo are colored by a more distinct set of policies molded by the (neo-) developmental state. The paper concludes by arguing that only some elements of a ‘neoliberal urban inventory’ are present in the urban landscape of Tokyo, that they exist within a recognisably neoliberal discursive framework, and that this is best conceptualized within a wider East Asian framework. [Copyright &y& Elsevier]

Presents the author's opinion on a study by Takatoshi Ito concerning the economies of Japan and East Asia. Economic difficulties faced by Japan; Factors that contribute to the economic development of Japan; Impact of industrial policy on Japanese economic development.

Taking a historical and comparative view, we explore the long debated cause of the spectacular economic successes of East Asia using land reforms in China and Japan during the 1940-50s. Examining the approach to land reform embodied by technocrats such as Liu Shaoqi in China and Wada Hiroo in Japan in addition to the implementation mechanisms of the policies they adopted, we show that the land reforms developed characteristics of dynamic factor endowment according to the Engerman-Sokoloff hypothesis. Fairly equal land redistribution led to political power equality and improved agricultural productivity and income equality, which is conducive to long-term economic development and the prevention of the Kuznets effect ex ante. Nevertheless, factors such as initial exogenous shocks, insufficient scale of family farming, persistent government support and consequential interest groups obstruct sustainable development of the agricultural sector as well as the generalization of East Asian experiences. Equality or inequality is essentially a policy choice in addition to being a long-term ex post evaluation of the reforms. [ABSTRACT FROM AUTHOR]

Japan's outward direct investment ( ODI) began to show an obvious expansion since 2005, accompanied by a greater importance in East Asia and in the manufacturing sector. By analyzing the new wave of Japanese ODI, three points are elaborated in this article. First, the recent Japanese ODI did not result in the same industry to be passed from one country to another as elucidated in the flying geese model. Instead, Japan's ODI only promoted the regional divisional of labor in the transport equipment and electrical machinery industries. Second, this study advances the theory of vertical production network by exploring two regional production networks constructed by Japanese ODI, including one between China, South Korea, Taiwan, and Hong Kong and the other between the Association of Southeast Asian Nations ( ASEAN). Finally, since Japan's economy has been tightly connected with foreign demand via overseas production, this article argues that any sign of Japan's declining ODI will have serious impact to its domestic economic prosperity. © 2015 Wiley Periodicals, Inc. [ABSTRACT FROM AUTHOR]

South Korea is Japan's most logical ally in East Asia. Both nations share the same primary military benefactor, the United States. Their geographic proximity makes them natural allies in offsetting China's growing power and unknown intentions. In spite of the many reasons to ally, relations remain strained, primarily because of Japan's historical occupation of Korea. In this article, the authors examine the political issues that must be resolved for Japan and South Korea to work together and the potential for such reconciliation in light of South Korea's on-again/off-again drift away from the United States and Japan's open embrace of U.S. protection and occasional political distancing. [ABSTRACT FROM AUTHOR]