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Europe and the Japanese ChallengeThe Regulation of Multinationals in Comparative Perspective$
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Mark Mason

Print publication date: 1997

Print ISBN-13: 9780198292647

Published to Oxford Scholarship Online: October 2011

DOI: 10.1093/acprof:oso/9780198292647.001.0001

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Introduction: Europe and the Japanese Challenge

Introduction: Europe and the Japanese Challenge

(p.1) Introduction: Europe and the Japanese Challenge
Europe and the Japanese Challenge

Mark Mason

Oxford University Press

Japanese foreign direct investments (FDI) rose dramatically in the United States and Europe in the late 1980s. In the United States, Japanese companies directly invested around $113 billion in America. From 1951 to 1986 the level of FDI increased by a factor of three. These spectacular inflows catapulted Japan by 1992 to the position of the largest foreign direct investor in the United States. Japan's FDI beginning in the late 1980s and continuing into the early 1990s entered Europe at rates which far exceeded earlier levels. After decades of increasing flows of international capital, convergence theory would suggest that by early 1990s, Europe and America should have treated inward FDI in substantially similar ways. By systematically comparing and contrasting European and American responses towards surging direct investment inflows from Japan, this study gauges the degree of similarity in the recent responses of these two major capitalist economies as each confronted a similar competitive threat from abroad.

Keywords:   foreign direct investment, FDI, United States, Europe, capitalist economies

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