KOKUSAI KEIZAI
Online ISSN : 1884-4359
Print ISSN : 0387-3943
ISSN-L : 0387-3943
Current issue
Displaying 1-8 of 8 articles from this issue
ARTICLES PRESENTED AT THE 80TH ANNUAL MEETING
CONTRIBUTIONS
  • Taichi Tamura
    2022 Volume 74 Pages 59-81
    Published: 2022
    Released on J-STAGE: December 06, 2022
    Advance online publication: November 17, 2021
    JOURNAL FREE ACCESS

    This article analyzes the trade relationship between the U.S. and China from the viewpoint of Global Value Chains (GVCs). We find that the international division of labor formed in the Asia-Pacific region plays a significant role in the growth of Chinese exports to the U.S., and particularly in the ICT sector, which accounts for most of the U.S. deficit in goods trade with China, foreign-invested enterprises in China have been the main players in increasing exports to the U.S. We also observe that the development of the international division of labor with China as the export base has impacted China’s value-added trade.

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  • Yasuhito Morihara
    2022 Volume 74 Pages 83-107
    Published: 2022
    Released on J-STAGE: December 06, 2022
    Advance online publication: November 17, 2021
    JOURNAL FREE ACCESS

    The confrontation between the United States and China over “data” is becoming increasingly fierce. While the U.S. is pursuing “free flow of data,” China is regulating cross-border data transfers and imposing strict data localization requirements on companies and individuals within its borders. This paper examines the reasons for this conflict, how “data” has become so important that it has become a source of friction between the two countries, and the nature of the two countries’ approaches to this issue.

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  • Hirotaka Suzuki
    2022 Volume 74 Pages 109-138
    Published: 2022
    Released on J-STAGE: December 06, 2022
    Advance online publication: May 07, 2022
    JOURNAL FREE ACCESS

    This paper addresses the ECB’s policy normalization elasticity of the unconventional monetary policies (UMPs). We modify it such as Thomas Piketty did. We show that the ECB should launch policy normalization during the sustained low natural interest rate due to its low elasticity at a minimum of around 0.5. Methodologically, we assume the New Keynesian model based on Suzuki (2021) and simulate the natural interest rate elasticity of monetary policy and variables by the basic quantum mechanics of Kalman filtering. Intuitively, we treat the natural rate as potential rate of private investment capital return as the costs of policy normalization.

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  • Tianyi Ji
    2022 Volume 74 Pages 139-166
    Published: 2022
    Released on J-STAGE: December 06, 2022
    Advance online publication: August 26, 2022
    JOURNAL FREE ACCESS

    This paper analyzes the trends in regional income inequality during the period 1978–2018 by using the Theil inequality index in the background of China’s trade liberalization. The results show that the regional income inequality has a trend of first falling, then rising, and then falling again in the middle of 2000s. Furthermore, by using the results of the measurement of inequality, regression analysis is conducted to examine the impact of economic opening on it and the change of the impact. Finally, from the perspective of the policy context, we conclude that these changes are linked to a shift in China’s regional development policies.

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