Banking on Multinationals: Public Credit and the Export of Japanese Sunset Industries - Hardcover

Solis, Mireya

Hardcover

ISBN 10: 080474887X ISBN 13: 9780804748872

Publisher: Stanford University Press, 2004

Synopsis

Banking on Multinationals is a study of Japan's world lead in publicly financing the expansion of multinational corporations in order to help sunset industries cope with loss of international competitiveness through offshore manufacturing.

About this title

About the Author

Mireya Solís is an Assistant Professor at the School of International Service of American University.

From the Back Cover

Banking on Multinationals addresses two fundamental puzzles in Japanese industrial policy: Why does the Japanese state--better known for its attempts to control markets, protect infant industries, and maximize national exports--administer the world's largest public program to support the expansion of multinational corporations? And why does the Japanese state not fear loss of control over mobile multinational corporations and erosion of the domestic export base through foreign direct investment (FDI)? Solís's explanation of Japan's lead in state financing of FDI takes into account both the industrial policy goals behind the extension of FDI loans and the political uses of subsidized credit to appease economically weak but politically powerful constituencies.
As the first systematic study of Japan's public FDI loan program, Banking on Multinationals reveals a previously unexamined dimension of Japanese government policy and helps explain the uncanny ability of stagnant sectors and small firms to participate in FDI activities. Rather than simply espousing the familiar idea that Japan's preeminent role as banker to multinationals is evidence of mercantilism in Japanese foreign economic policy, this book brings to life the domestic political conflicts underlying FDI policy.

From the Inside Flap

Banking on Multinationals addresses two fundamental puzzles in Japanese industrial policy: Why does the Japanese state--better known for its attempts to control markets, protect infant industries, and maximize national exports--administer the world's largest public program to support the expansion of multinational corporations? And why does the Japanese state not fear loss of control over mobile multinational corporations and erosion of the domestic export base through foreign direct investment (FDI)? Solis's explanation of Japan's lead in state financing of FDI takes into account both the industrial policy goals behind the extension of FDI loans and the political uses of subsidized credit to appease economically weak but politically powerful constituencies.
As the first systematic study of Japan's public FDI loan program, Banking on Multinationals reveals a previously unexamined dimension of Japanese government policy and helps explain the uncanny ability of stagnant sectors and small firms to participate in FDI activities. Rather than simply espousing the familiar idea that Japan's preeminent role as banker to multinationals is evidence of mercantilism in Japanese foreign economic policy, this book brings to life the domestic political conflicts underlying FDI policy.

Edition details

• Publisher: Stanford University Press
• Publication date: 2004
• ISBN 10: 080474887X
• ISBN 13: 9780804748872
• Binding: Hardcover
• Language: English
• Number of pages: 277