日本経済の浮沈と東アジアの発展

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1 I Sumimaru Odano / % NHK autumn / No.389

2 ASEAN 5 6 II NIEs H. Patrick and H. Rosovsky Asia s New Giant Flying Geese Hypothesis 005

3 GDP ASEAN5 GDP 1, ASEAN4 GDP ASEAN5 GDP autumn / No.389

4 GDP CPI OPEC 14 IGGI 007

5 New Economic Policy, NEP People s Action Party, PAP rule of law autumn / No.389

6 SEATO 18 19

7 III : IMF GATT IMF GATT = IMF14 GATT12 IMF GATT ( 1993 ) autumn / No.389

8 % 24 IMF (Adjustable Peg) Milton Friedman 1976 Robert Mundell 1999 John Makin 011

9 10 8% 16.88%1 = OPEC % Anthony Sampson The Seven Sisters (Viking, London, 1975) autumn / No.389

10 % pp M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M11 WPI CPI 5

11 ASEAN4 CPI 9% , pp autumn / No.389

12 % GDP Yen Dollar Exchange Rate Richard C. Marston, Real Exchange Rates and Productivity Growth in the United States and Japan, in Real-Financial Linkages among Open Economies, (eds.) Sven W. Arndt and J. David Richardson, MIT Press,

13 OPEC 6 IV 70 Green Revolution green revolution USAID William Gaud 38 IRRI IR HlaMyint 40 Asian Development Bank JICA 38 William Gaud IR8 40 HlaMyint, Southeast Asia s Economy: Development Policies in the 1970s, New York, Praeger Publishing, autumn / No.389

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16 V NIEs No.5, Peter Buckley and Pervez Chauri, The Internationalization of the Firm, Academic Press. Ltd., U.K. 1993, 019

17 Ups and Downs of Japan and Emerging Asian Economies 1970s: Beginning of the Japanese Economic Internationalization Sumimaru Odano The aim of this paper is to describe the internationalization process of the Japanese economy and the early stage of industrialization in the Southeast Asian economies. Both were observed throughout the 1970s. After having experienced the rapidly growing stage, Japan certainly entered into the new phase in the early part of the 1970s. Due to a fact that the persistently aggravating trade imbalances were no more trivial in the world economic relations, Japan realized severe pressures from abroad. At the same time, many trading partner countries repeated their criticism on the disequilibrium exchange rate of the Japanese yen. Meantime, Japan experienced two shocks appeared in an unanticipated way in the early 1970s, namely the so-called Nixon Shock in 1971 and the first Oil Crisis in Those events in fact helped initiate various structural changes in the Japanese economy and society. Some of those adjustments were to some extent inevitable, although having been unwelcome, under the circumstance in the international economic relations in the 1970s. The massive scale of the exchange rate adjustments was introduced. Nevertheless Japan chose to maintain the stable economic growth as its best alternative policy option. This in fact led the economy to go internationalizing in more vigorous fashion. Major Japanese corporations considered the Southeast Asian economies as their favored investment destination after the United States. Asian countries at the same time understood the outward strategy, like export promotion policies, more effective to attain the growth momentum. After following the successful cases of the Asian NIEs in the 1960s, various ASEAN nations took a stance to welcome the foreign direct investments from Japan. It looks that the Asian development were closely correlated with the Japanese structural changes in the course of the 1970s. This phenomenon is therefore regarded as an early call for more widening and deepening relationships between Japan and Southeast Asia. Efforts from both sides eventually succeeded to provide much more profound interdependent relationship throughout the entire 1980s. The 1970s served to a certain extent to make a turning point of the internationalization process of Japan. 020 THE HIKONE RONSO 2011 autumn / No.389

18 Ups and Downs of Japan and Emerging Asian Economies Sumimaru Odano 021

GATT GATT ITO GATT EPA Economic Partnership Agreement ASEAN ITO, International Trade Organization GATT GATT WTO

GATT GATT ITO GATT EPA Economic Partnership Agreement ASEAN ITO, International Trade Organization GATT GATT WTO No.7, 125-135 (2006) GATT GATT A Stormy Life of GATT Concentrating on a Development Stage of GATT Regime HORIUCHI Hiroshi Nihon University, Graduate School of Social Culture Studies GATT was established