When Giants Converge: The Role of U.S.-Japan Direct Investment

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M.E. Sharpe, 1995 - Business & Economics - 261 pages
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This book is a pathbreaking analysis of how international direct investment since World War II has played an important role in the process by which industrial countries generate technology and productivity growth. It covers both the leader-follower relations of the U.S. and Japan in the early postwar years and the more complex relations between the two competitive but mutually dependent giants of recent years.

The author traces the United States in its leadership role in the 1950s and 1960s. Then she shows how Japan became the world's largest provider of direct investment capital in the 1980s when the United States became the world's largest net absorber but continued to dominate the technology frontier.

  

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Contents

Changing Roles of the United States and Japan in International Direct Investment
3
Direct Investment Growth and Converging Technologies
4
International Direct Investment Flows and Financial Incentives
8
Related Technology Flows and Convergence of National Technologies
21
Conclusions
32
Notes
33
The Changing USJapan Direct Investment Relationship
35
Financial Flows
36
Technology Flows in Other Low and MediumRD Industries Steel Tires and Machine Tools
131
US Weakness Foreign Strength and Japanese Investment
132
Steel
135
Tires
147
Machine Tools
151
Conclusions
159
TwoWay Technology Flows in HighRD Industries Computers Semiconductors and Communications Equipment
162
Technology Linkages and Industry Structure
163

Technology Flows
42
Conclusions
56
Notes
57
Some History
59
Early US Investments and Technology Transfers 194869
61
Japans Industrialization and the United States Contribution up to 1952
62
Postwar Direct Investment and Related Technology Flows to Japan
66
Conclusions
80
Notes
81
Transition to TwoWay Investment and Technology Flows The 1970s
83
TwoWay Financial Flows and Industry Investment Patterns
84
US Investment in Japan
85
Japanese Investment in the United States
94
Conclusions
99
The New Relationship
101
Japanese Technology Contributions to the US Auto Industry
103
Japanese Market Gains and Factors Attracting US Consumers
104
Evolution of Japans Technology
106
Japanese Investment and US Absorption of Japanese Technology
111
Conclusions
125
Notes
128
Bilateral Investments and Government Policies
165
Computers
170
Semiconductors
180
Communications Equipment
188
Conclusions
197
Notes
199
More HighRD Industries Pharmaceuticals Instruments and Semiconductor Manufacturing Equipment
204
Technology Leads and Direct Investments
205
Pharmaceuticals
206
Instruments
209
Semiconductor Manufacturing Equipment
215
Conclusions
230
Notes
232
Conclusions
234
A Look at Technology Transfers
236
Bilateral Investment and Converging Technologies
238
Changing Government Policies
239
Bibliography
241
Index
249
About the Author
259
Copyright

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Page 250 - The Association for Manufacturing Technology, The Economic Handbook of the Machine Tool Industry, 1987-88.
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