(DP 1981-13) Some Aspects of Japanese Investments in the Philippines

Florian A. Alburo


The paper describes the pattern of Japanese private investment in the Philippines, reviews the analytical aspects of private foreign investment in general and how Japanese investment fit in that framework and suggest directions for policy and research analysis. Philippine exposure to Japanese investments is slight though not insignificant compared with the rest of the ASEAN countries and in terms of growth rates in the seventies. There has been a noticeable surge however relative to the sixties. Japanese investments are analyzed (using available aggregate data) in terms of determinants and impact. It is shown that the behavior of Japanese investments in the Philippines follows the patterns in other empirical studies of foreign investments in general. The more important question in assessing investment is in regard to their replacement by indigenous capital and resources. This is likewise analyzed in the paper. Some implications are drawn with respect to investments policies and areas for further research.

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