The formation of East Asian Sub-regional markets and the Role of Affiliates of Japanese Firms

在为期三年的研究计划的最后一年，我们以中国经济为重点，于1999年7月在上海-苏州和深圳-香港地区进行了实地考察。我们访问了日本和其他国家的一些分支机构，并分析了在次区域一级进行的实体和货币方面的经济一体化的性质。研究发现，多层次的经济一体化正在进行，以外国子公司为核心的产业集聚开始形成。通过实地考察，确认了在分析亚洲经济体时，与传统的国民经济概念不同，“次区域”概念的重要性。此外，还对包括中国在内的整个东亚地区进行了调查，从贸易、外国直接投资、金融等方面评价了经济一体化的进展情况。本集团亦检讨相关政策之变动。研究显示，亚洲经济体系在经济结构和政策环境方面经历了一些不可逆转的变化。在此基础上，确认了跨越国界的经济交流日益加强，并对利用贸易壁垒保护幼稚产业的传统政策进行了批判性的审查。本项目为期三年，其成果将以《Ajia Keizaiken no Saihensei：Boueki，Chokusetsu Toushi to Kinyuu》一书的形式进行宣传（Reformulation of Asian Economic Area：Trade，Foreign Direct Investment，and Finance），edited by Yoko Sazanami and Fukunari Kimura（Tokyo：Keio University Press）.它将包括首席研究员和其他研究人员的研究论文以及三名研究合作者的文章。

In the last year of the three-year research project, we focused on the Chinese economy and conducted a fieldwork in the shanghai-Suzhou and Shenzhen-Hong Kong areas in July 1999. We visited a number of affiliates of Japanese and other nationalities and analyzed the nature of economic integration at the sub-regional level that have proceeded in both physical and monetary aspects. It was found that the multi-layered economic integration has been going on and industrial agglomeration has begun to form with foreign affiliates as a core. The fieldwork confirmed the importance of the concept of sub-region when analyzing the Asian economies, rather than working with the traditional way of using the concept of national economies.In addition, a survey for the whole East Asia including China was conducted to evaluate the advancement of economic integration in terms of trade, foreign direct investment, and finance. Changes in the related policies were also reviewed. The study revealed that the Asian economies have experienced a number of irreversible changes in the structure of economy as well as policy environment. It was confirmed that economic interactions beyond national border have intensified and traditional policies for infant industry protection with trade barriers have critically been reviewed.The result of this three-year project will be publicized in the form of a book titled Ajia Keizaiken no Saihensei: Boueki, Chokusetsu Toushi to Kinyuu (Reformulation of Asian Economic Area: Trade, Foreign Direct Investment, and Finance), edited by Yoko Sazanami and Fukunari Kimura (Tokyo: Keio University Press). It will include research papers by the head investigator and other investigators as well as articles by three research collaborators.