Banking on Multinationals: Public Credit and the Export of Japanese Sunset Industries
Banking on Multinationals: Public Credit and the Export of Japanese Sunset Industries
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跨国公司银行业务：公共信贷与日本夕阳产业的出口
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发表时间：
2004
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通讯作者：
Mireya Solís
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作者：
Mireya Solís
向跨国公司提供资金解决了日本产业政策中的两个基本难题：为什么日本政府——以试图控制市场、保护新兴产业和最大化国家出口而闻名——要管理世界上最大的公共项目来支持跨国公司的扩张？为什么日本政府不担心失去对流动跨国公司的控制，以及外国直接投资（FDI）对国内出口基础的侵蚀？索利斯对日本在外国直接投资国家融资方面的领先地位的解释，既考虑了扩大外国直接投资贷款背后的产业政策目标，也考虑了补贴信贷的政治用途，以安抚经济上弱小但政治上强大的选民。作为对日本公共FDI贷款计划的第一个系统研究，《跨国公司银行》揭示了日本政府政策的一个以前未被审视的维度，并有助于解释停滞部门和小企业参与FDI活动的不可思议的能力。这本书并没有简单地支持一个熟悉的观点，即日本作为跨国公司银行家的卓越角色是日本对外经济政策重商主义的证据，而是生动地展现了外国直接投资政策背后的国内政治冲突。
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.