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Japanese Approach to the Transition Economies
(Abstract)
The paper presents economic policy of the Japanese government to support the developing countries and transition economies, behavior of Japanese FDI in these countries, and effectiveness of the approach. Globalization (marketization and monetary liberalization) isn't always favorable for the developing countries. Therefore the support that the developing countries can get over structural weakness is required. For example, supporting priority sectors, training enterpriser and employee, transforming technology are very important issues to enhance the competitiveness for these countries. Reducing unemployment, building safety-net are also the central task for stabilization and development of these countries. The IMF's reform measures for the Asian currency and financial crisis in 1997-98 weren't fully satisfied for Asian countries. This is why the Japanese government wants to establish the Asian Monetary Fund (AMF). There are critical opinions that this alternative approach, which was quite different from the neo-classical approach recognized widely, may weaken the expected effects of typical macro-stabilization policy. Because the fund would fill up the monetary shortage caused by the restrict policy.
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