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This paper surveys the recent literature on the Japanese distribution system to consider two propositions: first, that the system is inefficient, and second that prices of imported products tend to be higher in Japan than in other markets. Most of the literature demonstrates that the system is efficient. However, the efficiency has not necessarily resulted in high social welfare as consumers have had limited access to various product lines or paid high prices for some products. This paper examines the distribution system in the automobile industry to promote understanding about the impacts of the system on price differentials.

Corporate Finance --- Exports and Imports --- Public Finance --- Industries: Automobile --- Firm Organization and Market Structure --- Retail and Wholesale Trade --- e-Commerce --- Trade: General --- Automobiles --- Other Transportation Equipment --- Related Parts and Equipment --- National Government Expenditures and Related Policies: General --- Multinational Firms --- International Business --- International economics --- Transport industries --- Public finance & taxation --- Multinationals --- Imports --- Automobile industry --- Public expenditure review --- Foreign corporations --- International trade --- Economic sectors --- Expenditure --- Automobile industry and trade --- Expenditures, Public --- Japan

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Using the international input-output tables between Japan and five Pacific Basin countries (Indonesia, Korea, Malaysia, Singapore, and Thailand) for the years 1975 and 1985, the paper examines the trade structure in 1975 and how it had shifted by 1985. It shows that intra-industry trade in manufactured products expanded as Japan increased imports of more capital-intensive products from these countries. Intra-industry trade of intermediate inputs increased substantially more than of final products, reflecting a trend by manufacturers to subdivide the production process of intermediate inputs and to shift their locations to different countries. This suggests a more active development of international labor in the intermediate stages of production and a deepening of regional linkages.

Investments: Energy --- Exports and Imports --- Infrastructure --- Industries: Manufacturing --- Trade: General --- Industry Studies: Manufacturing: General --- Metals and Metal Products --- Cement --- Glass --- Ceramics --- Industry Studies: Transportation and Utilities: General --- Empirical Studies of Trade --- International economics --- Manufacturing industries --- Investment & securities --- Macroeconomics --- Exports --- Imports --- Manufacturing --- Metals --- Transportation --- International trade --- Economic sectors --- Commodities --- National accounts --- Saving and investment --- Japan

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Developing countries: economic development problems --- Asian Development Bank

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Many cities in the Asia-Pacific region serve as financial centres in their respective national jurisdictions or local areas. Noting that most were engaged in efforts to become premier international financial centres (IFCs) in competition with one another, the Korea National Committee for Pacific Economic Cooperation (KOPEC) convened an international conference in Seoul, Korea in October 2007 to examine the prospects for success for seven such financial centres (Hong Kong, Seoul, Shanghai, Singapore, Sydney, Tokyo and Wellington), weigh the costs and benefits of such competition for local economies as well as the region as a whole, and derive implications for cooperation among the regional governments. The present volume consists of case studies and commentaries presented at the conference as well as the synthesis report, which draws conclusions from those papers and commentaries. One of those conclusions is that, given the power of scale economies as well as the lack of integration of the financial markets in the region, none of the regional financial centres, even Hong Kong, Singapore or Tokyo, considered alone represents a meaningful rival to London or New York, the two existing global financial centres. The synthesis report thus argues for regional cooperation to integrate all those financial centres into an Asia-Pacific IFC network. It further argues that the present global financial crisis presents a major opportunity for regional governments to create such an IFC network that will challenge London and New York in quality as well as quantity of international financial business while helping the latter two overcome the current global crisis. This would open the path towards a stable and resilient Asia-Pacific financial community, with the constituent regional economies no longer vulnerable to the problems of the so-called original sin and double mismatch.

Competition --Pacific Area -- Congresses. --- Financial institutions, International -- Asia -- Congresses. --- Financial institutions, International -- Pacific Area -- Congresses. --- Financial institutions, International --- Financial institutions, International --- Competition --- Competition