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Returns to Japanese Investors From US Investments
Oleh:
Jorion, Philippe
Jenis:
Article from Bulletin/Magazine
Dalam koleksi:
JAPAN AND THE WORLD ECONOMY vol. 8 no. 3 (1996)
,
page 229-242.
Topik:
INVESTMENTS
;
investors
;
investments
Ketersediaan
Perpustakaan Pusat (Semanggi)
Nomor Panggil:
JJ47.6
Non-tandon:
1 (dapat dipinjam: 0)
Tandon:
tidak ada
Lihat Detail Induk
Isi artikel
This paper provides the first detailed measures of losses to Japanese investors from US investments. Over the period 1977 – 1994, nominal currency losses from Japanese investments amounted to about $ 260 billion. However, these losses should rather be measured on an opportunity cost basis, i. e. in terms of foregone opportunities in the Japanese market. Using this benchmark, economic currency losses still amounted to about $ 200 billion. These losses were primarily caused by the sustained appreciation of the yen, which was associated with massive US - Japan bilateral trade deficits.
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