Adjustment Problems in Advanced Open Economies: Japan and Germany

doi:10.3790/978-3-428-46623-8

Adjustment Problems in Advanced Open Economies: Japan and Germany

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Dams, T., Matsugi, T. (Eds.) (1989). Adjustment Problems in Advanced Open Economies: Japan and Germany. Duncker & Humblot. https://doi.org/10.3790/978-3-428-46623-8

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Adjustment Problems in Advanced Open Economies: Japan and Germany

Editors: Dams, Theodor | Matsugi, Takashi

Schriften zu Regional- und Verkehrsproblemen in Industrie- und Entwicklungsländern, Vol. 49

(1989)

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Book Details

Publisher Name: Duncker & Humblot
ISBN: 978-3-428-46623-8
978-3-428-06623-0 (print edition)
DOI: https://doi.org/10.3790/978-3-428-46623-8
Edition: 1
Language: English
Pages: 308
Collections: NBE WISO
NBE D&H
Subjects: Political economy

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Individual: € 59.90 (incl. local VAT if applicable)

Section Title	Page	Action	Price
Editors' Foreword	V
Table of Contents	VII
Ralf-Bodo Schmidt: "Unternehmungsphilosophie" and Human Concept – Questions to the Research of Real Theory –	1
A. At first: subject of the study	1
B. Secondly: The term "Unternehmungsphilosophie"	3
C. How: Values in goals and in the goal achievement of the company	4
D. At fourth: Human Concepts and patterns of valuation	7
E. And now: Questions to the research of real theory	10
Tamiki Kishida: Entrepreneurshlp: Management Ideology and Corporate Strategy	21
1. Entrepreneurship and innovation	21
2. Hitachi vs. Matsushita, and Toyota	23
2.1 Hitachi	23
2.2 Matsushita	24
2.3 Toyota	26
3. No debt management and entrepreneurship	29
3.1 Questionnaire and no debt small and medium firms	29
3.2 Interview with no debt small and medium firms	30
3.3 Interview with no debt large firms	31
4. Summary and concluding remarks	32
References	34
Table 1: A Comparison of Various Authors' Concepts of Strategy and the Strategy Formulation Process	35
Table 2: Characteristics of the Defender	40
Table 3: Characteristics of the Analyzer	41
Table 4: Characteristics of the Prospector	42
Dieter Schneidewind: Management of a German Subsidiary in Japan – Experiences, Challenges, Solutions –	43
1. Introductory remarks	43
2. Case study of a German beauty & health care company	44
2.1 The local distributor and the preparation phase (1969–1971)	44
2.2 The formation of joint-ventures (1972)	45
2.3 The central role of the liaison office (1973–1975)	46
2.4 The short period of near 100% control (1976)	47
2.5 The participation of Japanese partners (1977–1980)	48
2.6 Amalgamation and consolidation (1980–1985)	49
2.7 Looking to forthcoming strategies (1986–1995)	50
3. Successful management of FAC in the Japanese consumer market	52
3.1 Handling the labor force challenge	52
3.2 The inevitable local production and logistic basis	53
3.3 Public relations	54
3.4 Living with the legal and governmental situation	55
3.5 Obstacles and support from head office	56
3.6 Mastering distribution problems	57
3.7 Guidelines for marketing	59
1) Market Research	59
2) Timing Elements	59
3) Product Concepts	59
4) Communications	61
5) Sales Promotion	61
6) Services	61
4. Japan – cornerstone of market success in the Western Pacific	62
5. Japan and the world markets	63
Seinosuke Kuraku: Management of a Japanese Establishment in the Federal Republic of Germany — A Report on Experiences with Problems and Solution Approaches	65
1. Management by all who are involved	65
2. A smooth communication flow	66
3. Setting objectives and execution	69
4. How does one discover and promote hidden abilities?	70
5. Management must recognize future trends in time	72
Motonari Yamada: Process Innovation and Small Firms in Japan	77
1. Introduction	77
2. The status quo of factory automation in Japanese firms	78
3. Case study – introduction of the industrial robot in the metal painting industry	82
3.1 The contents of work	83
3.2 The price of playback robot	84
3.3 Technological capability	85
4. Concluding remarks	86
Figure 1: The introduction of ME machines	88
Figure 2: The industries in which ME machines are introduced	89
Figure 3: Processes in which ME machines are introduced	90
Figure 4: The reduction of the relative price of ME machines	90
Roland Fahrion: Fifth Generation Technology — Basic Principles and Economic Implications —	91
1. Introduction	91
2. Main targets of FGCS-project	92
3. Need of FGCS for knowledge-based systems	96
4. Technological and socio-economic implications	100
References	105
Takao Saito: The Influence of German Business Administration on Japanese Business Administration — Especially in Reference to Accounting	107
1. Introduction – research methods	107
2. The influence on accounting as a social system	108
3. The influence on accounting as a science	114
4. Concluding remarks	116
Wolfgang Hilke: Development of External Accounting in the FRG According to the 4th and 7th EC Directives — The New German Accounting and Reporting Law —	119
1. Introduction	119
Table 1: Contents and Applicability of the EC Directives	120
2. Concept of the new law	121
3. Essential changes in accounting and reporting, caused by the transformation of the 4th EC Directive into German law	122
3.1 New size criteria for corporate entities	122
Table 2: Size criteria for corporate entities	122
3.2 Eased requirements for corporate entities, depending on size	123
Table 3: Summary of eased requirements for corporate entities, depending on size	124
3.3 New regulations on presentation	125
Table 4a: Presentation of the Balance Sheet – Assets	126
Table 4b: Presentation of the Balance Sheet – Liabilities and Shareholders' Equity	128
Table 5a: Presentation of the Statement of Earnings	130
Table 5b: Presentation of the Statement of Earnings	131
3.4 New regulations on valuation	131
3.5 Expansion of the financial statements of corporate entities	134
a) Expanded regulations on notes to financial statements	134
Table 6: Regulations on notes to financial statements	135
b) Report on the economic development and position of the company	138
3.6 Auditing and publication requirements	138
3.7 Effective date and provisions for transition	139
4. Essential changes in group accounting and reporting, caused by the adoption of the 7th EC Directive	140
4.1 Requirements to prepare consolidated financial statements – companies to be consolidated and size criteria	140
4.2 New principle of uniform valuation	141
4.3 New consolidation of shareholders' equity	142
4.4 Intercompany profit/loss elemination	143
4.5 Equity accounting for "associated" companies	143
4.6 Effective date	144
5. Some consequences of the new law	144
References	146
Takashi Matsugi: The Foreign Trade Structure of Japan	149
1. Introduction	149
2. The foreign trade structure according to country	150
3. Explanation of structural characteristics and change	152
3.1 Estimation of export and import functions	152
3.2 The J-curve effect	153
3.3 Explanation by means of the product cycle theory	154
4. Effects of the yen's rise on the Japanese economy	155
Referencesr	157
Table 1: Percentage Distribution of GK Ocopcnents (at constant prices as of 1980)	158
Table 2: Contribution to Percent Change in GME from Previous Year (At constant prices)	160
Table 3: Structure of Japanese Exports and Imports according to Area and Country	161
Table 4: Comparison of Estimated Exports and Imports Functions on Quantity Base	163
Figure 1: Gaps between Exports and Imports in Value and in Quantity on Customs Clearance Base	165
Figure 2: Influences of the Yen Rate Increase and the Declining Crude Oil Price on the Japanese Trade Balance	166
Figure 3.1: Development of Competitiveness Coefficients according to Sectors	167
Figure 3.2: Development of Competitiveness Coefficients according to Sectors	168
Figure 3.3: Development of Competitiveness Coefficients according to Sectors	169
Figure 4: Trends in Competitiveness Coefficient (Japan, U.S.A., Korea)	170
Figure 5: Changes in Employment in Exporting Industries	171
Ryuhei Okumura: Patterns of the Balance of Payments in the Optimal Growth Model	173
1. Introduction	173
2. Optimal growth model of an open economy	175
3. Patterns of the balance of payments	179
A saving and capital-scarce country	182
The saving and capital-abundant country	183
The dissaving and capital-scarce country	183
The dissaving and capital-abundant country	183
4. Concluding remarks	183
References	185
Gerold Blümle / Siegfried Hauser: Exports of Baden-Württemberg within the Frame of the Federal Republic of Germany. Structure — Concentration	191
1. General structure	191
2. Global development of Baden-Württemberg's international trade	192
Table 1: Development of Baden-Württenberg's international trade and federal international trade	193
Table 2: International Trade and Shares by Product Group in quantity and value in 1975 and 1985	194
3. International trade by product groups and groups of countries	194
Table 3: Exports by Product Groups in 1985	195
Table 4: Exports to the Most lmportant Countries	197
Table 5: Export shares by Product Groups and Most Important Consumer Countries,1985	198
4. Differences in export structure in comparison to the whole Federal Republic of Germany	199
Table 6: Export structure according to value: Baden-Nürttenberg and the whole Federal Republic of Germany in 1985	200
5. Export ratios	200
Table 7: Development of Export Ratios in Processing Industries for the whole Federal Republic of Germany and Baden-Württemberg	201
Table 8: Export Ratios according to Government District for Processing Industries in 1985	202
6. Company concentration and international competitive capacity	203
7. Location factors	204
8. Branch specific causes	206
9 . Explanation principles of international trade theory and company size	207
Chart 1: Export structure according to value: Baden-Württemberg and the whole Federal Republic of Germany in 1985	214
Chart 2: Differences in Country Structure of Exports: Baden-Württemberg and the whole Federal Republic of Germany	214
Werner Pascha: The Internationalization of Japan's and West Germany's Textile and Clothing Industries, 1970 - 1985	215
Masaichi Mizuno: The Economic Consequences of Government Deficit — The Japanese Case —	247
1. Introduction	247
2. Fiscal deficit in the long term	248
3. The economic consequences of government deficit in Japan	250
3.1 The government deficit and inflation	250
3.2 Debt financing and the expansion of public finance	252
3.3 Debt financing and the shifting of burdens to future generations	253
(a) the long-term crowding-out effect	254
(b) Non-neutrality of the public debt because of the public debt illusions	255
3.4 Debt financing and public finance rigidity	257
3.5 Debt financing and fiscal liberalization	257
4. Debt financing and fiscal policy	258
4.1 The deflationary effect of the reconstruction of public finance	258
4.2 Fiscal policy during the process of the reconstruction of public finance	259
References	261
Table 1: (1) Deficit Ratio (%)	264
(2) Degrees of Dependence on Public Bond Issues (%)	264
Table 2: Medium Term Survey of Public Finance – National General Account (1985-1989)	265
Table 3: National Bond and National Debt Expenses	265
Figure 1: Changes of Price Levels	266
Figure 2: The rates of increase of wage, labor productivity, wage cost and consumer price indexes	267
Figure 3: Changes in the Wholesale Price Index and Money Supply	268
Figure 4: Expenditures of General Account	269
Figure 5: Ratio of Public Expenditures to GNP-Expenditures of General Account	270
Figure 6: Ratio of Public Expenditures to GNP-Expenditures of General Government	270
Figure 7: Private Investment in Machinery and Equipment (in real terms)	271
Figure 8: Real Long Term Interest Rate	272
Figure 9: Households' Saving Ratio	273
Figure 10: Personal Saving Ratio and Public Burden Ratio	274
Wolfgang Scherf / Alois Oberhauser: Interactions between the External Economy and the Fiscal and Monetary Policy of the Federal Republic of Germany, in View of Stabilization Policy	275
1. Interactions between the external economy and fiscal and monetary policy	275
2 . Development of foreign economic relations since the introduction of full convertibility	276
2.1 The development of the international monetary system	276
2.2 Import and export quota show an uphill trend	277
2.3 Balance of current accounts, exchange rates and terms of trade	278
2.4 Changes in the foreign exchange reserves of the German central bank	279
3. Monetary policy under external influences	280
3.1 Dependence on the external economy during times of fixed exchange rates	280
3.2 Flexible exchange rates, restrictive monetary policy and stabilization crisis	281
3.3 Relief of monetary policy by revaluation	283
3.4 Monetary policy with rising interest rates in the U.S.A. and devaluation of the DM	283
3.5 High surpluses in the balance of current accounts with increasing interest gap	285
3.6 Adaptions of exchange rates by synchronized measures of the central banks	287
4. Relations between fiscal policy and the external economy	288
4.1 Externally influenced development of the state of the economy and the necessity for fiscal policy to act	289
4.2 External influences on public income and spending	290
4.3 Public debt and international interest rate connections	292
5. Concluding remarks	294
Table 1: Export, Import and Net Exports	295
Table 2: Balance of Current Accounts, Balance on Capital Account, Balance of Foreign-Exchange Payments and Terms of Trade	296
Table 3: Foreign-Exchange Quotations, Interest Level, Difference in Interest Rates: FRG and USA	297
Contributors	299

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