Understanding  J apan's Capital Goods Exports | Zendy

Thorbecke Willem | Zendy

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Understanding J apan's Capital Goods Exports

Author(s) -

Thorbecke Willem

Publication year - 2015

Publication title -

the japanese economic review

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 0.205

H-Index - 28

eISSN - 1468-5876

pISSN - 1352-4739

DOI - 10.1111/jere.12073

Subject(s) - economics , capital good , east asia , productivity , ordinary least squares , international economics , capital (architecture) , international trade , sample (material) , slowdown , monetary economics , macroeconomics , goods and services , economy , china , econometrics , economic growth , history , chemistry , archaeology , chromatography , political science , law

J apan is the leading supplier of sophisticated capital goods to E ast A sian countries. These goods embody advanced technologies and facilitate learning and productivity growth. Capital goods also represent 30–40% of J apan's exports. This paper investigates the determinants of these exports. Results from dynamic ordinary least squares estimation indicate that exports depend on exchange rates, income in the importing countries and downstream countries' exports to the rest of the world. Results from out‐of‐sample forecasts indicate that J apanese exports crashed in 2009 because of the perfect storm of a yen appreciation, a global slowdown and a collapse in Asia's exports.

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