Japanese Research

New Changes in the World Economy and New Space for the Cooperation between China and Japan

JIANG Yue-chun

2019, 33(1): 1-9. DOI: 10.14156/j.cnki.rbwtyj.2019.01.001

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Abe's visit to China represents Japanese prime ministers first official visit to China after an interval of seven years. Abe stated that he wants to push JapanChina relations to a new stage. During Abe's visit, China and Japan signed a number of cooperation agreements. Under the background of the great changes in the international situation and the impact of US “unilateralism” on the principle of multilateralism and the free trade system, China and Japan, as the world's second and third largest economies, should be brave enough to play a leading role and make a difference in regional free trade arrangements and in maintaining the multilateral trading system. The continuously strengthened SinoJapanese cooperation will not only facilitate the smooth operation of SinoJapanese relations, but will also have a positive impact on economic cooperation in the AsiaPacific region and the prosperity and stability of the world economy.

Japanese Strategic Focus and Action in the Arctic

LU Hao

2019, 33(1): 10-19. DOI: 10.14156/j.cnki.rbwtyj.2019.01.002

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Japan has recently strengthened its strategic foucs on the Arctic and played an active role in the Arctic affairs, which is partly due to the increasing attention of the international community to issues related to the Arctic, and partly driven by Japans national strategy and maritime strategy. Japans perception of the strategic value of the Arctic is multidimensional, including geopolitics and security, resource and energy, trade route, environment and international influence. With the aim of ensuring its national interest, Japan attempts to take part in the interest sharing and rule making process in the Arctic, by raising its priority in national strategy, promoting policymaking mechanism, participating in international scientific cooperation, investing in energy and trade route exploration, and implementing the “Arctic diplomacy” in order to extend its political influence.

The Effects of Population Aging and Technology Innovation on the Quality of Economic Growth ——Based on System GMM Estimation for Dynamic Panel Data

ZHANG Ji-feng1, DENG Mei-wei2

2019, 33(1): 20-31. DOI: 10.14156/j.cnki.rbwtyj.2019.01.003

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By measuring the economic growth quality indicators of 31 provinces in China and 47 counties in Japan, this paper explores the influences of technological innovation and aging on the quality of economic growth through sysgmm model. The main conclusions are as follows: firstly, for both China and Japan, technological innovation can effectively promote the quality of economic growth, and the aging of population has a negative impact on it; secondly, the interaction between technological innovation and population aging has positive influence on the quality of economic growth, and technological innovation can be used as a powerful measure to deal with the challenge of population aging. However, this impact is significant in the Japanese empirical sample, but not in the Chinese empirical sample. In view of these, China should learn from Japan, promote the health level of aged people, and encourage aged people to participate in social activities and return to work.

The Productivity Effect of Japanese Enterprises CrossBorder M&A

DING Yibing, LIU Ziwei

2019, 33(1): 32-43. DOI: 10.14156/j.cnki.rbwtyj.2019.01.004

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To examine the effect of crossborder M&As on the productivity of Japanese enterprises, the paper uses PSMDID method to analyze Japanese crossborder M&A activities from 2009 to 2016. It found that crossborder M&As significantly increased the productivity of enterprises, but the effect became weaker and weaker with the passage of time. Enterprise heterogeneity and characteristics of the host country have a great influence on the effects. Crossborder M&As improve the productivity of manufacturing and service enterprises. Enterprises that engaged in crossborder M&As in developing countries acquired more productivity gains than those in developed countries.

The Motivation and Potential of Japan's Outward Direct Investment in Asia:An Empirical Analysis Based on the Extensive Gravity Model

ZHENG Lei，ZHU Ning

2019, 33(1): 44-57. DOI: 10.14156/j.cnki.rbwtyj.2019.01.005

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In recent years, Japan’s outward direct investment has been growing, but its outward direct investment in Asia has stagnated. An examination of Japan’s outward direct investment in 11 Asian countries (regions) has found that, first of all, the scale of GDP, both of the home country and the host country, has a positive effect on Japan’s OFDI in Asia. The distance between the home country and the host country has a negative effect on Japan’s OFDI in Asia. Secondly, the motives of Japan’s OFDI in Asia are marketingseeking, efficiencyseeking and resourceseeking, but the motive of strategic assetseeking is not obvious. Thirdly, Japan’s OFDI favors Asian countries with better institutional environment. In addition, by simulating investment potential based on the regression result, the 11 host countries (regions) can be divided into three categories: (1) mature investment potential countries, which includes Singapore, South Korea, Thailand, and Vietnam; (2) growing investment potential countries (regions), which include Hong Kong and Philippines; (3) developing investment potential countries (regions), which includes China, Taiwan, India, Indonesia, and Malaysia.

A Study on the Degree of Economic Bubble in Japan (1986-1991):Based on the the Divergence Between Virtual Economy and Real Economy

LIU Wei1, WANG Juan-xiu2

2019, 33(1): 58-69. DOI: 10.14156/j.cnki.rbwtyj.2019.01.006

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The divergence of the virtual economic index and the real economic index can be used to examine Japanese economy.An economyis considered to have a serious bubble when the annual growth rate of the stock price deviates from the annual growth rate of the enterprise investment by more than 3.93%, or when the annual growth rate of the land price deviates from the annual growth rate of the enterprise investment by less than -0.46%. The results show that the average bubble degree of the Japanese economy in 1986-1989 was 18.56%, and the average bubble degree of the Japanese economy in 1986-1990 was 12.04%. Judging whether the economic bubble of a country has occured should be based on the degree of deviation between the virtual economy and the real economy during the normal period of macroeconomic operation. Meanwhile,the degree of economic bubble should be the average of a period.

Analysis on Characteristics of Japanese State in Its Early Stage and Relevance between Ancient Japan and East Asian Society

CAI Feng-lin

2019, 33(1): 70-80. DOI: 10.14156/j.cnki.rbwtyj.2019.01.007

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Before the end of WWⅡ, a view of history called the Kou Koku Shi Kan, in which Japan is regarded as a divine nation created by deities and governed by emperors in a single family line from its beginning, emphasizing the independence of the formation of Japan, was the mainstream thinking among Japanese history academics. Meanwhile, few academics,in their study of the history of Japanese society, took Japanese history as a part of the history of East Asia. Until the end of WWⅡ, influenced by the social ideological trend of democratization, Japanese history academics began to break up the old “selfsatisfied” view, while reconsidering the development pattern of Japanese history by objectively analyzing the relevance and interactions between Japanese history and East Asian history, in order to better grasp the history and future of their country.Ancient Japanese state was formed under the influence of East Asian international environment. Based on this view, this article will analyze characteristics of Japanese state in its early stage.Ancient Japanese state was formed under the influence of East Asian international environment. Based on this view, this article will analyze characteristics of Japanese state in its early stage.

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