Na.9
ISSN 0289-8721

ち

ゞ

sso
cヽ
名 p,...
°も

ル

゜

C
E

入

レ
｀

t
。
、

o ゑ0/
之J

人マ

Information Bulletin of

◎
S
1‘

シ

匁

The Union of National
Economic Associationsin Japan

日本経済学会連合

1989

INFORMATION BULLETIN OF
THE UNION OF NATIONALECONOMIC ASSOCIATIONS IN JAPANThis Information Bulletin is designed to serve as an introduction of the academic activi­
ties of member associations of the Union to the economic societies throughout theworld. The popies will be distributed by the secretariat of the Union to libraries and in­stitutions in other countries whose names have been given by the member associationsof the Union.
Managing Editors
Satoru TAKAYANAGI, University of Tsukuba
Ryoji YAMADA, Tokyo University of
Economiclsao HORIBA, Aoyama Gakuin University
Masanori KOGA, Hitotsubashi University
Shin-ichiro KIMOTO, Meiji University
Yoshio OKUDA, Chuo University
Editorial Committee
Katsuto TANAKA, Hitotsubashi University
Koichi TANOUCHI, Hitotsubashi University
Yasuo KAWASHIMA, Meiji Gakuin University
Masatoshi KAWANABE, St. Paul's University
Yoshinori SUZUKI, Kanagawa University
Takatada IMAIZUMI, Yokohama National
University

Shusaku YAMAYA, Toyo University
Tatsuya SAKAMOTO, Keio University
Heita KAWAKATSU, Waseda University
Kiyomitsu ARAI, Waseda University
Koichi ENDO, Nihon University
Hiroaki AOKI, Senshu University
Manabu MINE, Hosei University
Masahiro SUGIYAMA, Waseda University
Terushi HARA, Waseda University
Mikoto USU!, University of Tsukuba
Masaru SAITO, Chuo University
Junko NISHIKAWA, Tokyo Metropolitan
College of Commerce

Directors of the Union
President
Masao UNO, Waseda University
Masao HAMABAYASHI, Yachiyo International University
Takashi SHIRAISHI, Kyorin University
Kyojiro SOME YA, Waseda University
Tomoji ICHINOSE, lshinomaki Senshu University
Takashi FUJII, Nagoya University
Yoshiro MATSUDA, Hitotsubashi University
Minoru MACHIDA, Waseda University
Yoshiaki SHIMABUKURO, Toyo University
Yasuo OKAMOTO, The University of Tokyo
Norio TAMAKI, Keio University
Secretary General
Koichi OTANI, Waseda University
AuditorHeizaburo SONODA, Nihon University
Satoru TAKAYANAGI, University of Tsukuba
Emeritus
Shigeto TSURU, Meiji Gakuin University
Yasuzumi IWAO, Nagoya Economics University
Yoichi ITAGAKI, Yachiyo International University
Noboru YAMAMOTO, Soka University
Business letters to be addressed, Secretariat of the Union of National Economic Associa­
tions in Japan, C/0 Professor Koichi OTANI, School of Commerce, Waseda University,
Nishiwaseda 1-6-1, Shinjuku-ku, Tokyo 169, Japan.
COP YRIGHT 1989 B Y THE UNION OF NATIONAL ECONOMIC ASSOCIATIONS
Printed in Japan. DAITO ART PRINTING CO., LTD. Tel. (03)552-8341

紫ふふぷぷふぷ碕碑今ふ碑碑碑碑ぷ今碑ふぷぷぷふふふふふ婦婦今ぷふふ碑碕碑啜

t{
:

t

{
{

t

{
{

t4

{

t

{

t

{
{

4

{

t

{
{
{

t

{
{

l

{
{

i

{
{

t
t

?

l

INFORMATION BUUETIN?
?
?

The publication of The Informatwn Bulletin is part of aprogram, aimed at promoting international exchanges of economicJ,
studies, commemorating in 1981 the 30th anniversary of theestablishment of the Union of National Economic Associations inJapan, when the first issue of The Information Bulletin appeared.
}J,
The purpose of The Bulletin is to introduce all over the world
the development of Japanese economic studies. We would be mostpleased if The Bulletin will assist every sort of academic societies
J,J,
and institutions throughout the world in becoming familiar with theeconomic studies in Japan. It would also be our pleasure if leconomic researches in Japan, introduced in The Bulletin, could·J>interest scholars abroad and thus contribute to the advancement of?

economic studies in other countries.
The Information Bulletin No.9, 1989, provides records of thepapers given, and the discussion taken place, at the latest annual
conferences of Japanese economic associations during the pastacademic year of 1988—1989. Included in The Bulletin is a special
article, entitled DEVELOPMENT OF JAPAN STAT ISTICALSOCIETY. Finally, as an appendage to The Bulletin, a list of thememberassociations,containing
relevantorganizational
information, is presented.
The Information Bulletin is an annual publication, with eachannual issue being completed in October of each year. A copy will
be sent, with compliments of the Union, to universities, libraries andeconomic research institutions, which have strong relationships withthe member associations of our Union, throughout "the world.

.

?

J,
J>

?

J,
}

?

l

J,
}
J,

?
?
?

涵咄咄咄守咄咄咄呟守守守守咄守咄守咄守守咄守守守守咄咄咄守守守呟守守守守森

CONTENTS

Special Article
Page
DEVELOPMENT OF JAPAN STATISTICAL SOCIETY ................................... 1
Activities of the Member Associations for 1988-1989
ACCOUN TING ASSOCIATION THE JAPAN ················································ 5
AGRARIAN HISTORY SOCIETY, THE ....................................................... 8
AGRICULTURAL ECONOMIC SOCIETY OF JAPAN, THE……•••…………•……. 11
ASIAN POLITICAL AND ECONOMIC STUDIES,
THE JAPAN ASSOCIATION FOR ...........................................................14
AU回TING ASSOCIATION, THE JAPAN......................................................17
BUSINESS ADMINISTRATION, JAPAN SOCIETY FOR THE STUDY OF ……..20
BUSINESS ENGLISH ASSOCIATION, THE JAPAN ......................................22
BUSINESS HISTORY SOCIETY OF JAPAN................................................24
BUSINESS MATHEMATICS, JAPAN SOCIETY OF.......................................26
COMMERCIAL SCIENCES, JAPAN SOCIETY OF........................................27
COMMODITY SCIENCE, JAPAN SOCIETY FOR .........................................29
ECONOMIC SOCIOLOGY, THE SOCIETY OF ............................................31
ECONOMIC THOUGHT, THE SOCIETY FOR THE HISTORY OF………………33
ECONOMICS AND ECONOMETRICS, THE JAPAN ASSOCIATION OF……....35
ECONOMIC GEOGRAPHERS, THE JAPAN ASSOCIATION OF……·…………..37
ECONOMIC POLICY ASSOCIATION, JAPAN ..............................................39
FINANCE ASSOCIATION, JAPAN..............................................................41
FISCAL SCIENCE, JAPANESE ASSOCIATION OF.......................................43
FOREIGN TRADE, JAPAN ACADEMY FOR................................................45
INSURANCE SCIENCE, THE JAPANESE SOCIETY OF……..……………•…….47
INTERNATIONAL ECONOMICS THE JAPAN SOCIETY OF ·························· 48
MONETARY ECONOMICS, THE JAPAN SOCIETY OF…•••……………••••….....50
ORGANIZATIONAL SCIENCE, THE ACADEMIC ASSOCIATION FOR.…………52
PERSONNEL AND LABOR RESEARCH, JAPAN SOCIETY FOR……………….54
PLANNING ADMINISTRATION JAPAN ASSOCIATION FOR ························· 56
POLITICAL ECONOMY, JAPAN SOCIETY OF.............................................58
POPULATION ASSOCIATION OF JAPAN THE ··········································· 60
PUBLIC U TILITY ECONOMICS THE JAPAN SOCIETY OF ··························62
REGIONAL SCIENCE ASSOCIATION, THE JAPAN SECTION OF THE ……….64
SECU印TIES, THE SOCIETY FOR THE ECONOMIC STUDIES OF……………67
SOCIALIST ECONOMIES, ASSOCIATION FOR THE STUDY IN………………..69
SOCIAL POLICY, THE SOCIETY FOR THE STUDY OF ....……••••……•………71
SOCIO-ECONOMIC HISTORY SOCIETY....................................................73
STATISTICAL SOCIETY, JAPAN................................................................75
TRANSPORTATION ECONOMICS JAPAN SOCIETY OF······························77
List of Member Associations ...............................................................79

THE UNION OF NATIONAL ECONOMIC
ASSOCIATIONS IN JAPAN
日本経済学会連合

The Union of National Economic Associations in Japan was established in 1950, as asole nationwide federation of associations of scholars and experts on economics,
commerce, and business administration. So it will celebrate the 40th anniversary next
year. In order to obtain membership to the Union, an association is subject to a strict
examination of its academic activities. As of 1989, the Union had a membership of 35
associations as in the table of contents.
The aims and objectives of the Union are to support scholarly activities of its member
associations and to promote academic exchanges both among members themselves, andbetween Japanese and overseas academic societies. The main activities of the Union are:(1) the publication and distribution of academic materials concerning Japanese
economics and papers presented by member scholars, (2) the sending of member
scholars to overseas conferences, (3) holding and supporting of international conferencesin Japan, (4) providing financial assistance to member associations inviting foreignscholars to Japan, and (5) collecting information on activities of member associations
and the issuing of a news bulletin.
The Union published in 1974 "KEIZAIGAKU NO DOKO" (The Trend in Japanese
Economics), based on a survey of economic studies undertaken in postwar Japan. The
Supplementary volume covering Japanese economic studies after 1974 was published in
1982.
The Union and the International Economic Association (/EA) jointly held the Fifth
World Congress of the /EA in Tokyo from August 29 to September 3, 1978. The Union
joined the International Institute of Public Finance in holding the Institute's 37th
Congress at Tokyo in September 1981. The Union dispatched 20 member scholars to theEighth World Congress of IEA held in India in 1986. Most recently the Union
successfully sponsored the IEA Tokyo Round Table Conference on'Institutions in a New
Dynamic Society'held between 15 and 17 September 1987.
The Union celebrated in 1980 the 30th anniversary of its founding by launching avariety of activities, including the publication of The Information Bulletin. In editing The
Bulletin Mrs. E.O.A. Checkland at Cambridge, England, has been assisting us by giving
suggestions and correcting English, and we are most grateful to her for her kind co­operation.
Address:

Professor Koichi OTANI, Secretary General of the Union, Waseda
University, Nishiwaseda IふI, Shinjuku-ku, Tokyo 169, Japan.

ー

DEVELOPMENT OF JAPAN STATISTICAL SOCIETY
Takafusa NAKAMURA*

The Japan Statistical Association (JSS) was founded in 1931 partly, at least, as aconsequence of the meeting in Tokyo of the International Statistical Institute in 1930.
The initiative came from a group of younger scholars, especially those in Tokyo, Kyoto
and Kobe. The majority of JSS members specialized in economic statistics anddemography. This reflected the fact that specialists of mathematical statistics and its
application were very scarce at that time. The first president was Prof. Dr. Iwasaburo
TAKANO, a specialist in the history of statistical thought.
Activities of JSS developed despite the severe atmosphere in the 1930s and the1940s. Annual meetings were regularly held despite the difficulties of the war and post
war years. In the tradition of statistical analysis, two tables will be presented to give an
overview of JSS.
Table 1 shows number of papers presented at the annual meetings of JSS between
1931 and 1980. In general the society has continued to grow throughout our history ofnearly sixty years. There were three periods of growth, the 1930s, the 1950s and the1970s, and these periods of stagnation, the 1940s, the 1950s and the 1980s. In table 2 itwill be interesting to consider the causes of these cycles from the view point ofJapanese statistical science.
Table 2 shows numbers of papers, classified by fields of research, in each decadesince 1938. This table is an objective panorama of research works by the members of
JSS. Until the 1940s the main areas represented were basic theories of statisticalmethods and economic statistics. This is a clear reflection of the academic society's
interest in Japanese statistics. By the 1950s, there was an increasing number of papers
in mathematical statistics and its application. At the end of the 1940s, under theoccupation of American and British Allied Forces, streams of statistics flowed into
Japan not only in the field of theory but also relating to application and practice. The
Government introduced a lot of monthly surveys and random sampling techniques by
the end of 1940s. Business firms learned quality control methods and market research.
A monumental case was the success of area sampling survey on the damages caused by
the atomic bomb. In the field of economics, new methods rapidly propagated. These
included national accounting, input-output analysis and econometrics.
In the 1960s the role of statistics in various kinds of sciences and practices
expanded rapidly. Education in statistics became very popular in many university
departments. The number of papers in modern fields of statistical application increasedin the 1960s and 1970s. Moreover, the progress of computer techniques reduced timeand efforts in making statistical calculations. It was an extraordinarily favorable
situation for JSS.

-1-

Table l. Number of Papers Presented at JSS MeetingYear Numbers
3
1931
10
32
33
15
34
14
35
19
36
19
37
18
38
20
39
20
40
17
41
21
42
19
43
11
44
45 No Meeting，Year Numbers
1946
8
47
12
22
48
49
19
50
15
51
23
52
31
53
26
54
35
55
35
37
56
57
37
41
58
59
36
60
37

Year Numbers
1961
37
37
62
38
63
40
64
46
65
36
66
38
67
39
68
42
69
33
70
45
71
40
72
45
73
53
74
62
75

Year Numbers
1976
71
77
70
78
86
79
84
80
74
81
107
82
114
83
131
84
161
85
153
86
113
87
103
88
109
89
113

Table 2. Number of Papers Classified by Fields of Research

Statistical Methods
Economic Statistics
Econometrics
Management Statistics
Demography
Engineering Statistics
Computer and Software
Datum Analysis
Biometrics
Education of Statistics
Government Statistics
Others1938 & 39
14
16
2
1
3

48 & 49
10
19
2
3

58
12
15

68
18
7

4
5

2
5
1

2
1
2

5
2

2

3

3

78
51
5
4

88
51
10

，

3
11

， ，

4
8
7

2
1
3

5
3

2
For a more detailed examination of the work of the society and its members someconsideration will be given to papers offered in the field of social science.
Statistics in Japan, as well as other social sciences, was introduced from Germany.
Until the 1920s, the professors of statistics specialized in the history of this science —Prof. lwasaburo TAKANO of the University of Tokyo on J.P. SiiBmilch and Prof. Seiji-2-

TAKARABE of Kyoto University on Quetelet. In the 1930s, young professors, Prof.
Hiromi ARISAWA of the University of Tokyo and Prof. Torazo NINAGAWA of
Kyoto University strove to establish their own theories in succession to the tradition ofGerman social statistics. ARISAWA tried to lay the foundation of the "law of large
number" on F. Engels' method of natural dialectics. This. idea was subsequently
developed in the 1950, for example, by Oscar Lange of Poland. NINAGAWA's work
was focused to rearrange the basic concept of "statistical groups" and systematizing the
logics of social statistics. His book General Theory of Statistics should be remembered
as a monumental contribution to the development of the subject.
In the 1930s, economic statistics became an important development as modernmaterial on British and American statistics became available. One representative workin the 1930s was Prof. Eiichi SUGIMOTO's who introduced econometric ideas andtried to apply them to Japan. His pioneering work stimulated younger generations toapply econometric methods to Japan's economy. More important contributions wereachieved by Prof. Y uzo MORITA of Yokohama Economic College (then, Director­
General of Statistics Bureau of Cabinet and Professor of Hitotsubashi University). His
two books on price index theory which appeared in the 1930s became standard
textbooks for students until the 1950s. He also worked as the organizer of a joint
research project on "National Income and Its Distribution" which was published in
1943.
Another contribution by Prof. MORITA was a book "An Analysis on Population
Growth" published in 1944. This book included introductions of new theories ofdemography and an estimation on long run population trend of Japan since the eacly
19th century that was a milestone for Japanese d�mographic analysis. In the postwar
period, Prof. MORITA was appointed as President of Cabinet Statistical Bureau toreconstruct Japanese statistical systems. He stayed at the post of President more thanten years and effectively guided Japan's burgeoning government statistics department.
On the other hand, modern methods of statistical inference (based on R.A. Fisher)
was introduced by Prof. Toshio KITAGAWA of Kyushu University and Dr.
Motosaburo MASUYAMA. At JSS meeting, Prof. Koichi MIYAZAWA systematicallyintroduced a series of papers on probability distribution function, testing of hypothesis
and estimation theories. In the early postwar period, the younger generation
specialized in mathematical statistics developing theories and applications of modern
techniques. Hiroshi MIZUNO, Takashi MORIOKA, Junjiro OGAWA, Kenji ENDO
should be mentioned as important theoretical statisticians. In addition staffs of theInstitute of Mathematical Statistics started original social surveys on Japan's nationalitythat continued for more than thirty years. This survey was planned and advised by
Chikio HAYASHI and Shigeki NISHIHIRA.
These reports made an original contribution and demonstrated some change inthinking of the Japanese.
In the field of quality control, Prof. Heihachi SAKAMOTO and Dr. Kaoru
ISHIKAWA introduced methods of statistical quality control. Dr. Deming, visiting
Japan, made great e{forts to diffuse these ideas in Japan. He set up a prize bearing his-3 -name, which encouraged quality control in Japan's factories. SAKAMOTO, also ,translated Statistical Method from Viewpoint of Quality Control by Dr. W.A. Shewhart.
Econometric method, especially based on statistical inference theory was
introduced by Prof. Isamu YAMADA translating the Approach to Econometrics. Prof.
YAMADA and Prof. Hidetaro IEMOTO were also pioneers introducing input/output
analysis by Prof. Wassily Leontief. Econometrics and input-output analysis weredeveloped by the students of Prof. YAMADA and Prof. IEMOTO in the 1950s and the1960s.
In the field of historical statistics, excellent work Long-Term Economic Statistics (in14 volumes) should be remembered as a monumental contribution. This series wasplanned by Prof. Kazushi OHKAWA, Prof. Miyohei S HINOHARA and Prof. Mataji
UMEMURA and the staff at the Economic Research Institute of Hitotsubashi
University. The first book on long-run estimation of national income was published in
1955. After ten years the first volume of the series appeared and the last two volumes
were published last year. Prof. OHKAWA and other authors devoted half of theiracademic life to complete this volumes. We are grateful for their dedication. That
Japan's economic development can be accurately analysed is a tribute to these 14
volumes.
We should be proud of the tradition of the history of statistics in Japan and of thepioneers, Prof. TAKANO and Prof. TAKARABE. Prof. Shichiro MATSUKAWA's
work on William Petty was an important research involving biography and doctrine.
MATSUKAWA pointed out that W. Petty and J. Graunt's works developed as a social
science in the policies of mercantilist states. MATSUKAWA's work compares well withrecent work in Europe both in its scope and investigative skills.

3
What then of the future? The Japan Statistical Society has made steady progress
during its near sixty years history. Because of the new computer age the Society mustpress forward to realize its full potential under the present favorable conditions forstatistical work. The number of those who are engaged in statistical analysis in various
fields of research works is increasing in a trend of exponential function. The Society
should continue to attempt to attract these persons as members. This is the task towhich we should bend our efforts.
* T. NAKAMURA (Professor, Ochanomizu Women's University)-4-THE JAPAN ACCOUNTING ASSOCIATIONThe Japan Accounting Association (JAA) which has played an active part indeveloping the science of accounting in our country, was established in 1937. The
JAA's annual convention is held usually in May alternately in the Kanto and Kansai
Regions. One of the prominent universities in the district hosts the meeting.
JAA's Forty-Seventh Annual Meeting (with over 860 members attending) was held
at Keio University in Tokyo between September 11 and 14, 1988.
An open forum entitled "What is expected of the Business Financial Report" washeld on Monday, September 12, (at Rm.518, West School Building of Keio University).
Fujio HATTORI (K.K. Nihon Securities Research Center) submitted his paper
entitled "What is expected of the Business Financial Report?." He pointed out thevalue of the recent substantial disclosure system of Japan, laying particular stress on
the fact that the financial information on different segments of the economy and on
overseas enterprises was becoming more substantial. He expressed the expectation thatfurther detailed segmented information, the information on the ratio of profit in an
invested capital, and the improvement of the consolidated financial statements would
follow. Mitsutake YOSHIMURA (The Nihon Keizei Shimbun Inc.) insisted that thethree vital points concerning the disclosure system should be: firstly, the accounting
system should be harmonized with the international accounting system, secondly, ahighly developed system of information, with 24 hour full-time usage, be acquired,
thirdly, financial informations should be based on accepted accounting standards ofcorrectness, fairness, and promptness. Finally, Reijiro HATTORI (Hattori Seiko Co.,
Ltd.) emphasized that commercial and security laws, and the competent authorities'
request for information should be harmonized. He also urged enterprises to disclose
more details of financial informations to the outsiders. This forum produced a lively
discussion and was successfully coordinated by Seiji MORINAGA (Keio University).
Two reports from the Special Committee of the Association were presented on
Tuesday afternoon, September 13.
1. "Accounting Principles for Business Enterprises and Accounting Provisions of
the Commercial Law" chaired by Kiyomitsu ARAI (Waseda University)
2. "Comparative Analysis of the Basic Problems of Accounting for Public
Organizations from an International Perspective" chaired by Hiroshi YOSHIDA(University of Marketing and Distribution Sciences)
Then three reports from study groups were presented and discussed at anothermeeting on the same afternoon:
1. "Problems and Prospects of Accounting Information Disclosure at Present"
chaired by Tatsundo YAMAGAMI (Osaka City University)
2. "The Positive Study on the International Comparison of the Estimate
Accounting of Business Enterprises" chaired by Haruzo KANEKO (Shinshu JuniorCollege)-5-

3. "The Study on the Audit of the Interim Financial Statement" chaired by
Yoshimasa TOMOSUGI (Mie University)
The three plenary sessions on "The Origin of Accounting Principles and theProspect" (held on Tuesday afternoon, September 13) were particularly exciting. Paneldiscussions for each session followed on Wednesday afternoon.
Ryuji TAKEDA (Kobe University) presided over the first plenary session entitled"A Reexamination of the Business Accounting Principles."Takayoshi OKABE (Kansai University), Shizuki SAITO (The University ofTokyo), Yasuo KAKURAI (Hosei University) and Akira WAKASUGI ( Yokohama
National University) provided an interesting session by talking on different aspects ofthe basic problems of Business Accounting Principles.
The second session entitled "A Reexamination of the Cost Accounting Principles"
was presided over by Kiyoshi OKAMOTO (Hitotsubashi University) and the speakers
included Y utaka KATO (Kobe University), Takao MAKIDO (Nagoya University),
Michiharu SAKURAI (Senshu University) and Kengo KOBAYASHI (Aoyama
Gakuin University). The discussion centered upon "The Reexamination of the Cost
Accounting Standards and Problems in Japan."
The third session entitled "The Reexamination of Audit Standards" was presided
over by Hidetoshi KAWAI (Aichi University). We had a good fortune to have Toshio
KANISHIMA (Nagoya University), Hiroshi KAWAKITA (Tohmatsu Awoki and
Sanwa), Nobuo HIDA (Chuo University) and Masaatsu TAKADA (Kobe University)
as speakers. They discussed "The Control of Auditing Standards," "How to attainmaximum Auditing Standards" and "The Concrete Problems of the Audit."
Wednesday afternoon was devoted to panel discussions. The members who
attended this session had the opportunity to exchange opinions and to discuss "On
Accounting Principles and the Prospect for the Future."
The sessions on Tuesday morning, September 13, and Wednesday morning,
September 14, consisted of thirteen meetings during which fifty members of the
Association submitted papers on a variety of topics.
One of the highlights of the annual meeting was the Monday reception and dinner.
Over 500 guests (held in the West School Building of Keio University) were welcomed
to this party. It was a pleasure to have G.G. Mueller (AAA) as our guest, and heinvited the Japanese members to participate in the meeting in Honolulu August 14
through 16, 1989. He also discussed about current AAA activities, which was a subjectof great interest to many Japanese members.
Besides this, many were interested in the manuscript (1873) for "The Method of
Bookkeeping" translated by Y ukichi Fukuzawa, the founder of Keio University.
The members of the organizing committee for the convention of 1988 were nineaccounting professors of the Faculty of Business and Commerce, Keio University:
Yoshio AIDA, Kazuo ADACHI, Seiji MORINAGA, Misao YAMAGUCHI, Mitsuo
FUJIMORI, Shoji KASAI, Tadachika NITTA, Yoshitaka KOBAYASHI, Y ukiharu
KUROKAWA and Susumu TOMOOKA.
The next annual meeting will be held at Matsuyama University in Ehime-6-

Prefecture on May 26 to 29, 1989. The common title of the plenary session is "A
Reexamination of the Essence and the Function of Accounting."(Yoshio AIDA)-7-

THE AGRARIAN HISTORY SOCIETY

The Agrarian History Society consists of four sections, economic theory, current
economic analysis, economic history of Japan, and economic histories of foreigncountries. The society holds a Spring Symposium and an Autumn Conference every
year. These meetings are arranged in order to pursue one theme more deeply. In 1988
our discussions centred on economic theory and current economic analysis.
The 1988 Spring Symposium was held at The University of Tokyo on June 25,
1988. The theme was "The Present Situation of an International Monetary and
Financial Crisis". Kensai KOBAYASHI (Musashi University) and Shinjiro
HAGIWARA (Yokohama National University) served as chairmen for the symposium.
Takanori YAMAMOTO (Obirin University) reported "Two Stages of International
Monetary Crisis in the Post-War Period". He explained that the characteristics of post­
war international monetary crises was related to two stages of the monetary
development, namely a fixed or a floating rate of exchange system. A simultaneous
slump of US stock and dollar was in connection with an historic development of
postwar monetary crisis. He postulated that a dollar crisis and a dollar defense, under
the period of the floating exchange rate system, meant development and reorganizationof a crisis of a basic currency. A dollar crisis at the period of floating exchange rate
system inevitably involved a financial market. As the result of a unification ofinternational exchanges, and to avoid the risk to the rate of foreign exchange, a dollar
crisis under the floating exchange rate system inevitably caused a collapse of the stockand bond market.
The second presentation was delivered by Kunio HARADA (Kanto Gakuin
University) on "The Historical Implications of Financial 'Revolution "' . This paper
focused on the character and structure of the 'international circulation of Japanese
Money'. If this process continued, the U.S.A. might become a debtor nation, and this
could destroy the'dollar standard'system. The second stage of the breakdown of the
postwar'cold war' system began in this way.
The 1988 Autumn Conference was held at Komazawa University on October 22
and 23, 1988. The topic of the symposium was "The Structure of an Agricultural Crisisin the 1980's". Three reports were presented under the chairmanship of Shuzo
TERUOKA (Utsunomiya University), Sadaichi YAMADA (Hokkaido University) andTamotsu TABATA (National Research Institute of Agricultural Economics).
The first report was presented by Ryuichi INO (Nippon Agricultural ResearchInstitute), under the title of "The Recent Trends of the World Agricultural Market and'Agricultural Crisis'in Japan". Makoto HOSHI (Tokyo University of Agriculture)
spoke on "Structural Change in the Reproduction System and the Destruction of theJapanese Agricultural Economy". The third presentator, Keiji USHIYAMA (Hokkaido
University) examined "An Agricultural Crisis in Hokkaido".
INO expressed that a characteristic of the world agricultural products market in-8-1980's was an intensification of the surplus of agricultural products. This aggravated a
conflict of interests among nations. Three factors especially were exerting influences on
the world agricultural products market: firstly, US policy seeking for expansion ofexport, secondly US intension to cut agricultural protection policies of every countries,
and thirdly deepening of confliction and relation between the Northern and Southerncountries. Under this situation US' demand for trade liberalization of agricultural
products to Japan became stronger and this constantly squeezed the agricultural
production in Japan. Japanese agriculture was thus in crisis. This was demonstrated bya remarkably reduced domestic food self-sufficiency ratio, less farm productivity, lessof farm land and agricultural labour force and a decrease in the income of agricultural
households. Although farmers were disappearing from society, this crisis in agriculture
did not transfer to society generally. He tried to indicate ways in which to overcome thecns1s.
HOSHI argued that the postwar world reproduction structure that was formed in
the 60's had changed in the 80's. This transition was caused by the diffusion oftechnology based on microelectronics, the rise of the position of Asia in the Worldeconomy, and the decline of US industry. The threat from the Japanese economy
caused the US to demand that Japan liberalization her trade in agricultural products.
The crisis in Japanese agriculture was intensified by the collapse of the postwar
structure of world economy. He deplored the collapse of the economic structure thefarm village. It was essential for any independent state to maintain a viable agriculture.
Japan must mount an'agricultural revolution'which required not only the creation of acooperative land use system but also the operation of a high level crop rotation system.
USHIYAMA reported the present agricultural crisis in Hokkaido by using theresult of a field survey. The agriculture in Hokkaido had been hitherto a good example
of an agricultural policy run through state monopoly capitalism. Now, however
agriculture in Hokkaido was confronted by over-production (of all kinds of agricultural
products) and huge debt. The current situation was very serious. Because of heavy
investment in marginal land in Hokkaido a major effort is required to restructure
agriculture.
These papers produced a vigorous discussion. Takeshi MURATA (Kanazawa
University) and Tsunejiro SOWA asked INO about the prospects of re-evaluating thetrade negotiation of GATT. Isshin N AK ANO (Kyoto University) asked whether
GATT was able to regulate the behaviour of agribusiness which had become very
important in the world agricultural products market. Takaaki OOTAWARA(Hokkaido University) stressed (against HOSHI) that trade and price policy were more
important in Hokkaido than fundamental reconstitution of land ownership system thatHOSHI emphasized. Kenji HORIGUCHI (Tokyo University of Agriculture) asked
HOSHI to explain further the process of changing the land ownership system.
Takayoshi FUKUDA (Ministry of Agriculture, Forestry and Fisheries) reported that
there was a development of intense cultivation in Hokkaido simultaneously with
development of extensive farming , and asked how USHIYAMA evaluated this?
Toshimasa SUZUKI (Hokkaido University) asked about the relationship between-9-

USHIYAMA's report on the basis of field survey and HOSHI's report from the pointof view of the reproduction structure.
Throughout the conference there was much discussion among the participants. This
made for an enjoyable meeting.
(Mitsuzo GOTO)- 10 -

THE AGRICULTURAL ECONOMIC SOCIETY OF JAPANThe 1988 Annual Meeting of the Agricultural Economic Society of Japan was heldon the April 1st and 2nd at the University of Tokyo. The general theme of thesymposium discussed on the 1st day of the Meeting was "The Problems and Prospectsof Japanese Agricultural Development under New International Pressure". This was
the sequel to the theme of last year's symposium.
The aim of the 1988's symposium was firstly to clarify influences of economic andpolitical international pressures recently raised on Japanese agriculture directly or
indirectly through economic adjustments of non-agricultural sector of Japan; secondly,
to analyze the problems of Japanese agriculture and agricultural policies; and thirdly to
try to find some positive ways toward Japanese agricultural development under suchpressures.
Chikuji FUJITANI (Kyoto University) served as chairman of the symposium.
Shinji H ATTORI (Gifu College of Economics) presented a paper entitled "TheInternational Challenge to Japanese Agriculture." He argued as follows:
1) There are two main factors impacting on Japanese agriculture. These are thestructural change of world grain markets, and the continued trade imbalance between
Japan and the U.S.
2) The structural features of the world grain markets in the 1980s could becharacterized as "weak demand, over-supply". This could continue for years, althougha temporary fluctuation caused by extraordinary climatic changes might occur.
3) "Strong yen, weak dollar" could promote U.S. exports, but the imbalance between
the U.S. and Japan will continue at least for some years.
4) Considering these conditions, agricultural product price gaps between outside andinside of Japan will continue and substantial trade imbalance pressures for tradeliberalization of agricultural products would also continue.
5) In these circumstances what should those in charge of Japanese agriculture do? (1)As Japan only produces 33% of grains consumed, we should not undervalue Food
Security. (2) Farm prices in Japan should be more flexible so as to respond at least
partially to the changes in international circumstances.
The second presentation was made by Yoichi TASHIRO (Yokohama National
University), who presented the paper on "The Adjustment Policy of Economic
Structure and the Existence Foundation of Agriculture in Contemporary Japan". Hisarguments went as follows:
1) Since the 1985's GS, prices of farm products have decreased and the Japanese
import of farm products has rapidly increased. As a result, the agricultural production
has remained static. Under the reduced opportunities at the local labor market, thenumber of farm household members engaged in stable part-time jobs have decreased,
whereas those in unstable part-time jobs have increased. The price of farm land has
also fallen in purely rural regions.

- 11 -

2) The adjustment policy of economic structure has made most of the Japaneseindustries to be exposed to international competition under the exchange rate of 120—130 yen par U.S. dollar. Under this adjustment process, Japanese government has
attempted to adopt a liberalization policy for all farm products. As a result, Japanese
agriculture may be forced to contract.
3) In order to protect Japanese agriculture, today's Japanese economic aims should be
to work towards encouraging increased demand from the domestic market and toincrease the purchasing power of Japanese economy. The protection policy ofagriculture must also be based on the cooperation between trade unions andagricultural cooperatives.
Keiji OHGA (National Research Institute of Agricultural Economics) made thethird presentation, entitled as "The Effects of Import Liberalization of Japanese
Agricultural Products". His arguments were as follows:
1) Japanese agriculture faces the final stage of import liberalization of agricultural
products. The purpose of this report is to investigate the effects of import liberalizationon the domestic rice and beef production.
2) A partial equilibrium model, the "Pilot International Rice Model", is constructed.
The major assumptions for the calculation using this model are the complete
liberalization of Japanese rice import and the abolition of the government subsidy for
U.S. rice production. The results show that Japanese rice production would decrease
from 11 million metric tons (brown rice basis) to 2 or 3 million tons, while the U.S. rice
export to Japan would increase a little bit or decrease, according to whether 1985 or1986 is taken as the initial base year. This indicates that without government assistancethe U.S. rice production would lose its international competitiveness.
3) A dynamic Japanese beef model, which was built 3 years ago by the reporter andrecently updated, was used. The results indicate that the Japanese beef industry would
be forced to contract to one-tenth by the year 2000 if no restrictions are imposed on
beef imports. The import of beef would thus increase by about ten times the volume of1986 imports. But Japan could maintain her beef production at the present level if
reasonable border and domestic measures were taken after the abolition of the importquota system.
Ryohei KADA (Kyoto University) delivered the 4th and the last presentation
entitled the "Basic Issues of Japanese Agricultural Policy under Changing International
Economic Situations". His argument were as follows:
1) There are three basic policy issues in contemporary Japanese agriculture: (1) agradual decline in terms of the net aggregate value of production and incomes indomestic agriculture, due mainly to lowered commodity prices and increased imports;(2) the structural imbalance of the supply and demand of rice, which requires a further
adjustment to cut down overproduction; and (3) lowered returns to agricultural labor,
which makes it more difficult to foster and create large-scale, viable farming units,
particularly among rice producers.
2) Considering that there are certain limitations to the improvements in Japanese
agriculture, productivity increase and cost reduction in rice and other field crops have
- 12 -

to be pursued more efficiently by creating cooperative and community-based
agricultural systems — rather than simply by expanding the farm size of individual
farmers. As for the future Japan will continue to be under strong pressure to reduce
her remaining trade barriers. But for the purpose of national food security, themaintenance of regional economies, and other external benefits, Japanese agricultural
policy needs to protect at least the present minimum level of our main agricultural
products, while allowing foreign exporters greater access to the other commodities
which are in fact of minor importance to the food security of Japan.
Touhiko KORENAGA (National Research Institute of Agricultural Economics),
Koji BABA (The University of Tokyo), Yukio MASUI (Hyogo University of
Education) and Tadashi TENMA (Hokkaido University) commented on the above­
mentioned presentations . There was also vigorous discussion from the floor. The
following points were made,1) What are the objectives of agricultural protection done by national policies —agriculture as an industry, or farmers being engaged in agriculture?;
2) How do we develop means of agricultural protection conformable to the GATT's
ideals?
3) Can we expect increased efficiency from Japanese agriculture given the basic
configuration of Japanese land?
4) Are there insurmountable technical problems in the simulation method of the 3rdreport?
On the following day, April 2, a total of 62 contributed papers were submitted on
various topics of authors' choice.
The 1989 Annual Meeting is planned to be held at Obihiro University of Stock­raising, of which the main theme will be "The effect of Opening Agricultural Markets
on Regional Economy".
(Chikuji FUJITANI)- 13 -

THE JAPAN ASSOCIATION FOR ASIAN POLITICAL AND
ECONOMIC S TUDIESThe Japan Association for Asian Political and Economic Studies held its 42nd
National Convention on October 22nd and 23rd, 1988 at Asia College in Tokyo.
On the first morning, there were three sessions running simultaneously. The first,
on Chinese and Korean studies, was entitled "Comparative Studies, the Response of
Indigenous Rural Society to Japanese Rule in Korea and Manchukuo", Yuko
HAMAGUCHI (Asia College) tried to establish the differences between the responsesof rural societies in Korea and in Manchukuo to Japanese colonial rule. He emphasized
the policy for the financial and marketing co-operative society in Korea and especially"Gassaku-shia" in Manchukuo. During the 1930s and 40s these co-operative societies
established by the colonial government played the pivotal role for control of thewartime economy.
The second report was on "The Problems of Industrialization in Rural Area in
China — the South-Ziangsu (蘇南） Pattern and the Wenzhou (温州） Pattern — ".
Hironao KOBAYASHI (Japan External Trade Organization) argued that since 1985,
the development process of Xiangzhen enterprises (township enterprises, 郷鎮企業） in
Sunan region (southern part of Giangsu Province) and in Wenzhou region been
watched with keen interest because they represent two different patterns ofindustrialization in rural area. He claimed that these two patterns are not applicable toother rural area under the different socio-economic conditions, but that various lessons
and suggestions for industrialization in other rural areas may be extracted from theseexperiences.
The second session concentrated on Southeast Asia. Tohru NAKANISHI (The
University of Tokyo) reported on "Rural-urban Migration and the Formation ofInformal Sectors in the Philippines". On the basis of data collected by a field survey inthe squatter areas within the Manila Metropolitan region, it was possible to note
important differences between the prosperity of tenants and landless labourers.
NAKANISHI also pointed out how the informal sector encouraged regional disparity
through the rural development process. He also claimed that the inherent behavioral
principle, based on the traditional value system which obstructs the market pricemechanism, is also one of the major causes of the expansion of the informal sector.
The second report "Industrialization of NIES in East Asia and Its Impact on
ASEAN and China — An Aspect of International Political Economy after the War"was presented by Jaw-Yann Twu (Niigata University). He examined the theoreticalframework for analysis of industrialization process in NIES. Further, he explored thepossibility and the conditions of diffusion of the growth triangle to ASEAN countries,
considering the impact of industrialization of NIES in East Asia on ASEAN countries
and China. He tried to construct a framework of new East Asian economic co­operation including China.
- 14 -

In the third session, two papers were read. First one was "Social Changes in Papua
New Guinea — A Means to Acquire Social Prestige in Sepik Region ― " presented by
Yukio TOYOTA (Asian College). He pointed out the existence of a peculiar custom
which is expressed as a "buying dance" in Sepik region. This means to acquire the rightof learning and playing the particular dance. This right is given in exchange for pig,
fowl, betel palm and recently money. To buy and hold this right gives social prestige.
This peculiar custom is quite unique in Melanesian traditional society.
Yukihiko KIYOKAWA (Hitotsubashi University) and Akihiko OHNO (Seikei
University) reported on "Modern Factory Workers". A. Inkels and D.H. Smith
created the concept of'individual modernity' and claimed that it is intensified throughworking experience either in the factory or through education. They tried to examine
this hypothesis on the basis of data collected through an oral survey conducted at asugar factory in Northern India. They examined the correlation between OM (Overall
Modernity) as related to education, year of service, caste or land holding. They also
examined the correlation between OM points and overall skill. They concluded thatskill and education, caste or landholding are to some extent correlated while OM points
and other factors are not. This implies that technological rationality itself encourages
workers adapt to factory system.
In the afternoon of the first day, four papers were presented under the general
heading "Socialism in Asia under the System Reforms". The aim of this special session
was to consider the effect of the reduction of central control in socialist countries in
Asia, and to consider whether this is a process of the regeneration of socialism or the
decline of capitalism. Is it possible for North Korea, Burma and Mongolia to remain
outside this powerful movement?
The first report presented by Shinichi KOIBUCHI (Asia College) was on the
Mongolian People's

Republic.

He arguedthat although various

attempts at

improvement have been made the Mongolian economy in stagnant. The dictatorship ofmonolithic party system have created distortions in the central political management.
Under the influence of 'Perestroika' in the Soviet Union, the Third General
Conference of the People's Party decided to follow the reform line in Soviet Union.
How will Mongolia achieve this given that her economic base is dominated by stock
farming?

Will reform in the Mongolian People's Republic become an uniqueexperiment for socialism?
Fumio GOTO (Osaka University of Foreign Studies) reported on the Socialistic
Republic of Viet Nam where change in the system started in 1979, when the country
was internationally isolated following crisis in Cambodia. The Viet Nam government
was compelled to accept the market mechanism in part because foreign aid, which had
earlier supported the centralistic system, was heavily cut and this caused a severe
scarcity of consumer goods, raw materials and spare parts. Since 1986 the government
have systematically pursued a policy of promoting the development of freer economic
development and encouraged economic relationships with Western countries. It was
not clear how economic matters would develop in the future.
On the Democratic People's Republic of Korea, Teruo KOMAKI (Institute of- 15 -

Developing Economies) presented a paper explaining the critical situation of theeconomy there. Now in North Korea the government encourages moral incentives, andhas tried to introduce economic reforms and liberalization. The strong impact of
economic success in South Korea presents North Korea with a constant challenge.
Hideki ESHO (Hosei University) read a paper on "India — Industrial Stagnationand the Transition to a Liberalized Economic System-". He described thebackground of debate on industrial stagnation and critically examined the various
theories of economic development referring to the actual situation of the Indian
economy. He believed that the Indian economy now needed a development strategy
which included a wider variety of institutional and economic strategies. He questioned
the success of a transition to a liberalized economic system in India.
Tohru OHNO (Osaka University of Foreign Studies) gave a chronological accountof'Burma Pattern'socialism. He pointed out that the economic unbalance as a resultof hasty and ill-prepared nationalization, inefficiency of public enterprises and low
productivity, due to lack of entrepreneurship, had all contributed to a scarcity ofgoods, high price and impoverishment. The eruption of an anti-government movementin 1988 demanded not only the absolution of poverty but also democratic reform.
The last paper, entitled "Structural Change and the Political System in China", wasread by Satoshi AMAKO (University of the Ryukyus). He insisted on the necessity ofanalyzing the impact of reforms and indeed the liberalization policy itself (as well as theimpact of various long-term factors) for anyone trying to examine the background of
structural changes. He also emphasized the basic stability of Chinese society, theexistance of vast regional differences and the changes already taking place in China.
All these factors must be considered by anyone trying to grasp the special features ofstructural changes in China.
The afternoon of the second day was devoted to the symposium on the common
theme,'Socialism in Asia under the System Reforms". Major points of the consensus
obtained through discussion are as follows. The essential elements for system reforms
in socialist societies are the introduction of the market mechanism, the shift from asystem of central control, recognition of private ownership of some means of
production, separation of administrative institution from party system, freedom ofspeech, thought and belief, and association, separation of the three powers ofadministration, legislation and judicature, and an international open-door policy. In
addition external factors, for instance the impact of detente, the development ofmutual dependence and the impact of economic success in NIES also contribute to thesystem reforms socialist societies in Asia. Whether economic efficiency andproductivity could be pursued only through competition; whether the latter could work
only within the market mechanism and whether this would contradict planningprinciples, these are the challenging questions presented by system reforms insocialism.
(Masanori KOGA)- 16 -

THE JAPAN AUDI TING ASSOCIATIONThe Japan Auditing Association holds an annual convention in addition to two
regional branch meetings. The 11th annual convention of the Association was held on
June 18th and 19th, 1988, at Kansei Gakuin University, Nishinomiya, Hyogo. Afterreports were given by the Special Committees, several members presented reports on
the unified-theme and on free-theme subjects. The meetings concluded with a round­table discussion.
Three reports were presented by the Special Committees on "Present State of the
Audit Firms and its Future" (chaired by Saburo ISHIDA, Kansei Gakuin University),"Auditing for Local Self-Governing Bodies" (chaired by Kazumasa KONISHI, Nara
Tanki University) and "Sampling Test" (chaired by Ichiro SHIOBARA, Waseda
University).
The central theme was "Characteristic of Auditing and its Function in Society".
Four research reports were presented, followed by discussion. Two reporters referred
to "Statement on Auditing Standards in Japan", which was announced officially by theBusiness Accounting Delivery Committee in the Financial Ministry, 1976, revised ed.
1989). Another two reporters presented critical opinions on the theory and practice ofrecent auditing systems. The outline of their reports is given in the following.
Hiroshi NAKACHI (CPA), in his report "Social Function of Auditing Supported
by IFAC", explained the function of IFAC and IAPC in the last ten years, and hesuggested how to improve both professional auditor and the auditing system in Japan.
In his opinion, this function, corresponding to progress of the process ofinternationalization and globalization in economic society, raised the international
authority of professional accountants, got their opinion for financial information
recognized generally, and made clear their responsibility. He insisted that as essential
factor in economic society, accounting professionals, like lawyers and judges, required
to respond to greater demands made upon them. This would make them moreauthoritative and command greater respect. Tatsuyoshi TAKAYANAGI (Kansai
University) presented, "Proposals for the Amendment of Auditing Standards inJapan", critical opinion to that Statement on Auditing Standards in Japan after 1950
have been announced by public sector, the committee in the Financial Ministry. He
insists that the main constituent of Statement on Auditing Standards ought to be theInstitute of Certified Public Accountant. Professional accountants working in theprivate sector are rich in experience and of first class quality. He believed that auditing
practice should be more flexible to correspond to the changing social environment.
Both of Minoru EMURA (Tokyo University), the third reporter and Hiroji
CHIKAZAWA (Konan University), the fourth reporter noted the importance of clear
auditing and the multipolarization of the auditing system. EMURA explained, in his
report "Characteristics of the Audit Opinion", that the objectives of the financial audit
in Commercial Law is to render to the general meeting of stockholders the accountant's- 17 -

opinion of the financial statement, while the financial audit in the Security andExchange Law aims to show investors the common audit opinion. In the former, thequalification of audit opinion refers the matter to a general meeting of stockholders
who may demand changes. In the latter there must be explanations to help the user offinancial information. In the report "Characteristic of Auditing" CHIKAZAWA
emphasized that it is vital to be able to affirm the truth of the accounts and financial
statements by contrasting a document with another document or written account andthe document with the fact or transaction. This is extremely important. But the auditor
cannot predict the future trend or to give prospective information. Auditing is
unsuitable in attempting to forecast income.
The subsequent discussion which was vigorous was chaired by Hidetoshi KAWAI(Aichi University). Questions raised included the following,(To NAKACHI and TAKAYANAGI) How do you establish mutual relations between
the public and the private sectors in "Auditing Standards in Japan", if the public sector
still plays a role in it?
(To EMURA and CHIKAZAWA) If there are two different Laws and two auditing
systems in Japan how do they relate?
Most participants who expressed an opinion believed that "General Standards"
should be established by the public sector and "Application Standards and Detail
Requirement to Practice" by the private sector. Certainly, this opinion reflected themembership of this society representing as it does auditors from both sectors in Japan.
In the case of EMURA and CHIKAZAWA's arguments most members believedthat audit work should be unified, although audit opinion and reports may vary withdifferent audit systems. It was generally accepted that accounting principles andstandards are, and should be, unified in preparing financial statement under both Laws.
This discussion had to be curtailed because of lack of time.
This problem was reconsidered at the regional meeting in West-Japan, (held on
November 12th, 1988) at Mie University. The unified-theme was "The Auditor's
Responsibility in Detecting Irregularity and Fraud". It has always been one of theobjectives of financial audit for the professional auditor to search for irregularity andfraud. This objective dates back to English Auditing in the nineteenth century.
Auditing was an instrument by which the directors or top-management were madeaccountable to stockholders. These objectives still remain important in JapaneseCommercial Law. By contrast in the Securities and Exchange Law in Japan it is thepremier objectives for the auditor to guarantee the reliability of financial information
for investors. Even if the both objectives are different in origin, it is necessary that one
audit system absorbs the other system and objectives, in so far as accounting andfinancial statement are unified in principle in the both Laws. In the recent years SAS
No.16, SAS No.17, SAS No.53 and SAS No.54 were published in U.S.A. In themeeting the same problems were discussed and we recognized the need of amendment
to the present Statement on Auditing Standards in order to make extension of auditor's
obligation to check the irregularity and fraud.
Monograph No.1 "System Auditing" was published by the Association in October- 18 -

1988. Monograph No.2 "Audit for Small Companies" was published in July 1989. Bothare printed by Dai-ichi Hohki Shuppan Co. Limited, Tokyo.
(Masa'atsu TAKADA)- 19 -JAPAN SOCIETY FOR THE STUDY OF BUSINESSADMINISTRATIONThe 62nd annual convention of the Japan Society for the Study of Business
Administration was held at Otaru College of Commerce in Hokkaido from August 28
to 31 1988. Eight Papers and a symposium were devoted to the unified theme "theChange of Industrial Structure and Business Administration". There were in addition
30 other papers on a broad range of issues.
The unified theme for this year's convention reflected the problems of enterprises
due to environmental change such as a greater internationalization, and exchange of
information, etc. Shinya IMURA (Otaru College of Commerce) focused on the recentchange of financial business in the United States and discussed the relationshipbetween the change of financial structure and management problems of financial
agencies, noticing a tendency to increase the security of finance. He believed that suchsecuritization of finance inevitably expanded business . This resulted in the entry of the
big banks, etc. into the market and the increase of the burden of government financeowing to the shift of the risk of private institutions on to the government.
Takafumi HAYASHI (Fukuoka University) raised the problem of the presence ofmultinational enterprieses (MNEs) in the United Kingdom (an advanced capitalist
country) and the effect of this on her industrial structure. Having analyzed vastquantities of data on the car industry concerning the influence of the presence of MNEs
upon the reproduction-accumulation behaviour of indigenous capital, HAYASHI
argued that the strategic behaviour of MNEs, especially in technology-intensive sectors,
drove local enterprises to a marginal position, resulting in the decline of foreign tradeperformance of industries in question.
Shoichi HAYASHI (Chuo University) dealt with the influence of recent trends
towards a service economy on the corporate strategy. HAYASHI noted that the
progress in information-communication technology necessitated the pursuit of the
supply of high value-added goods and qualification of services as the strategic goal ofenterprises, focusing on the growth process of service industries. His emphasis was laidon the three stages of growth ー (1) creation, (2) enlargement, (3) utilization ー
observed in any given service space. He also observed the importance of network
strategy.
Hirokimi OKAMOTO (Doshisha University) argued that with technologicalinnovation in information and the change of demand structure, the change of industrial
structure proceeded with the change of corporate structure characterized by Japanese­type restructuring on the strength of the rate of big business behaviour in the steel
industry. According to OKAMOTO, the feature of Japanese-type restructuring is the
double-tracking progress of the three changes — namely, re-activation of main business,diversification and globalization-. But in mature industries such as the steel industry,the competition among enterprises is limited. Thus he concluded that these changes- 20 -

had some characteristics of the employment adjustment effect.
Yoshinori SAIGO (Chukyo University) raised the problem of Japanese-type of
restructuring (basic reformation of business structure). SAIGO asserted that thestructuraladjustment

atmacro-economic

level

proceededbymicro-economic

adjustment, although the Yen revaluation after 1985 accelerated the rate of change ofenterprises. B ased on the above premises he examined the trend toward. Japanese-typeof restructuring, using such classifications as the forward change from main business,diversification and specialization.
Yoshiya TERAMOTO (Meiji Gakuin University) presented the following
problem; while the change of industrial structure during the period of high economic
growth in Japan was achieved by the change of business structure in existing enterprises(rather than the creation of new business by independent entrepreneurs), recentchanges are promoted by the formation of strategic network system among different
kinds of enterprises. TERAMOTO cited the maturity of both industrial society andenterprises as the background of such changes and emphasized the importance of new
information.
Yuzo SUIZU (Hannan University) considered problems of'Science Park' towns
and resort development plans, connected with the change of industrial structure in local
areas. SUIZU noted how regional development plans included schemes for the
introduction of advanced-technological industries, the promotion of informative
facilities, the development of sight-seeing and leisure industries and the establishmentof factories. He also pointed out that further investigation was needed into problems of
production

function,

ill-balanced

development

among

industries,

big-and-small

enterprises, the sound economic base of regional economies and the role of medium­and small-sized enterprises, and the activation of local industries and technologicalpolicy.
Shoichi FUJITA (Hirosaki University) reported on the development of local
industries in backward areas. Business firms must be encouraged to enter those areas.
He used the result of research on the actual condition in the case of Aomori prefectureand emphasized the importance of endogenous development of those regions. He
believed that it was a necessary function of local industries to activate the regional
economy.
It was great pity that, because of illness, we could not hear from Mutsumi
WATANABE (Meiji University) his presentation of "the Change of Industrial
Structure and Medium- and Small-sized Enterprises".
At the convention symposium, the intensive discussion at the heart of the new
structural problems in business, was not sufficiently developed. T his was inevitablebecause of the rigorous discussion following each paper. Nevertheless in a broad sense,
this year's convention achieved considerable success by presenting so many issues andopinions involved in the present changes of the industrial structure.
(Shigeo AYUZAWA)- 21 -

THE JAPAN BUSINESS ENGLISH ASSOCIATION (JBEA)The 1988 (48th) annual convention of the Japan Business English Association washeld at Meiji University, Tokyo, on October 15 and 16, 1988. The association will
publish "Nippon Shogyo Eigo Gakkai Kenkyu Nempo" (The JBEA Annual Studies) inNovember 1989 containing the eleven papers presented and details of the panel
discussion held at the convention.
The subjects and resumes of these papers and reporters are as follows:(1) "The Significance of Electric Banking: An Overview of Administration,
Management, and Strategic Issues" by Hirokazu SHIMA (Heian Women's JuniorCollege). This paper gave a brief outline of the operation of the bank card system, andstressed the significance of card banking especially when the social impact and the
public interest are considered.
(2) "Power Relationships Communicated through International Distributorship
Agreements" by Takao MUKOH (University of Marketing and Distribution Sciences).
Reviewing live wording of factual, international exclusive distributorship contracts, thispresentation attempted to show the ever-present power play between the parties ascommunicated through such wording. In contract negotiations, any party to a contract
shows its superior position to the other party. In order to counter such advance, thispaper discussed the countermeasures available to the less powerful party.
(3) "Communication Barriers, Gaps and a Limitation to the Function of'You Attitude'
by Yoichi USUI (Koran Women's Junior College). Differences in law, custom, religion,
ideology, language, etc. are main causes for international trade disputes and claims. To
prevent such difficulties, the reporter pointed out careful marketing researches before
business proposals and also careful contract negotiations particularly on wording andtechnical terminology. A comment was made about so-called "You Attitude" to theeffect that there is a limitation to its function in actual business contract negotiations.
(4) "A Study of Internal Business Communication" by Kazuo KAMEYAMA (Shoin
Women's Junior College). The reporter attempted to make clear the functions of inter­
office memoranda exchanged between foreign affiliated firms in Japan and their head
offices and/or business groups outside Japan, together with those of so-called'traditional' memos within firms or their respective departments. He explained two
different functions either of facilitating a flow of transfactions or of interrupting its
flow.
(5) "On'Merger & Acquisition'in the Stage of the Fourth Internationalizat10n" by
Tetsuya WADA (Mukogawa Women's University). "Merger & Acquisition" might be
the main means of progress of internationalization multinational enterprises at home
and abroad. The reporter discussed roles and characteristics of M & A in the stage ofthe fourth internationalization.
(6) "What Do College Students Wish For in Business English Teaching?" by Tadashi
KATO (Kansai University of Foreign Studies) . With his more-than-forty-year teaching- 22 -

experience at colleges, the reporter discussed his college students' desires for Business
English Lessons.
(7) "A Study of 'on board'·m 'Incoterms and Umform Customs and Practice forDocumentary Credits 1983" by Hideyoshi ARAKI (Nagoya University of Commerce).
The reporter discussed a familiar usage of "on board a ship" which appears in the
Incoterms, making a grammatical analysis of the term.
(8) "A Legal Effect of'Good Faith Negotiating'Clause in Letter of Intent" by Takao
NORISADA (Kwansei Gakuin University). Anglo-American tradition has it thatparties negotiating for a contract are dealing at arm's length and are under no duty to
act in good faith toward each other. The reporter detected a tendency to tamper withthis tradition and to recognize obligations to negotiate in good faith, especially when
the parties explicitly agree to do so.
(9) "What Should We Do for'Business English'?" by Yoshio SAITO (Chuo Gakuin
University). The reporter described the history and the current status of "Business
English" as a teaching subject at colleges, and made specific, constructive suggestions
for the future.
(10) "Accounting and English" by Makoto ISOBE (Seikei University). With a further
advance of international trade links, accounting information plays a more importantrole in business fields, particularly, within multinational enterprises. The reporter
stressed the importance of "Accounting English" and suggested that accounting
information be included in the scope of "Business English".
(11) "Some Problems in Intermediary Trade Practices ー Approach to International
Marketing" by Teruhisa YAMADA ( Yokohama College of Commerce). The strengthof the Japanese currency has made plenty of Japanese manufacturers direct their eyes
to "Intermediary Trade". The reporter analyzed sales/purchasing contracts forintermediary trade, and explored some theoretical implications by relating this practiceto the exchange relationships and market behavior.
A special mention should be made of the panel discussion to consider our title. Are
we content with'Nippon Shogyo Eigo Gakkai'(in Japanese) or'The Japan Business
English Association'?" A change had been proposed in 1975; since then this matter hasreceived our particular attention. In 1986, a special committee was formed for its
further discussion. Mikito NAKAMURA (Kwansei Gakuin University), as committee
chairman, reported views and opinions exchanged among seven committee members.
Tworeporters,

Mikito

NAKAMURA

and

Norio

AOYAMA (Chuo Gakuin

University) also expressed their opinion about this topic. AOYAMA mentioned thatthe present name does not reflect our real field of study, implying only a study ofwriting skill for commercial correspondence. He believed that our association nameshould indicate actual fields which we are presently studying, such as "The Japan
Business

Communication

Association".

NAKAMURA

agreed.

HiromuNAKAMURA, president of our association chaired a session full of vigorous debate.
Despite general interest, there was no definite conclusion. But this issue will be carriedover to future annual conventions.
(Junzo HAYASHI)- 23

BUSINESS HISTORY SOCIETY OF JAPANThe 24th annual conference of the Business History Society of Japan was held on
October 15 and 16, 1988 at Tohoku University. On the first day, 12 reports were read.
Six reports were concerned with Japanese business history, and the other six concerned
foreign countries, especially the United States. On the second day, a symposium
entitled "Holding Companies in the Inter-War Period" was held. The organizer of thesymposium was Yoshitaka SUZUKI (Tohoku University) and he read the paper, "BigBusiness and Management Organization in the Inter-War Period: Focusing on Certain
Functions of Holding Companies". In his presentation, he stressed the importance ofholding companies not only in the United States but in Britain and the continental
Europe as well, comparing holding companies with multidivisional organizations andcentrally functionalized organizations. Discussion on holding companies has a long
history in Japan as well as in foreign countries. As early as the 1930s, holding
companies were already a big issue, reflecting the fact that a substantial number ofholding companies appeared in several developed countries like the United States andGreat Britain. But such discussions focused on the aspect of'control'rather than on the'management' of holding companies. In this symposium the presentors mainly talked
about the latter.
With regard to the British holding companies in that period, Etsuo ABE (Meiji
University) read a paper entitled "Holding Companies and Management in Britain,from the Early 20th Century to World War II". According to his survey, the ratio of
H-form (= holding companies) in the big 50 or 100 companies in Britain increased
markedly during the period 1910 ー 1920. He pointed out the differences between thetightly-controlled H-form and the loosely-controlled H-form, taking such examples as
Vickers, Imperial Chemical Industries, and United Steels. The third presentor, Namiko
HARUMI (Miyagi Gakuin Women's College), gave a presentation titled "The German
Electrical Industry and Holding Companies in the Inter-War Period". It mainly focusedon the Siemens Company, and emphasized the role of the technological holding
company in the Siemens Group, i.e., an operating holding company.
The fourth presentor was Haruto SHIOMI (Nagoya Municipal University), whoread the paper "Multi-Divisional Structure and Internal Capital Market in the UnitedStates". In 1929, 20 out of the largest 50 companies in the U.S. took the form of apure-holding company, and yet such holding companies had the functions of a tightly­
controlled administration similar to multidivisional structure. In that sense the H-formin the U.S. played the same role as M-form, that is, an active and developing one.
The final presentor, Juro HASHIMOTO (Hosei University), suggested manythought-provoking points about the Japanese situation. One question raised by him
asked why Japanese zaibatsu, which had H-form, had such efficient and tightly­
controlled organizations before World War II. He stressed the importance of studying
actual administrative organizations and the functions of the big zaibatsu rather than
- 24 -

conventional financial studies. Following the above presentations, lively and useful
discussions took place.
Along with the regular convention, the Business History Society of Japan has beenorganizing "International Conference on Business History" annually since 1973,
sponsored by the Taniguchi Foundation. The results of the conference are published by
the University of Tokyo Press and the proceedings amount to 15 volumes thus far. This
February, "Japanese Management in Historical Perspective", edited by Tsunehiko YUi(Meiji University) and Keiichiro NAKAGAWA (Aoyama Gakuin University), hasbeen published. The conference is held in January at the foot of Mt. Fuji. This year's
theme was "Foreign Business in Japan". The project leader, Masaru UDAGAWA(Hosei University) made the opening presentation titled "Business Management andForeign Affiliated Companies in Japan before World War II". His main point was that
foreign businesses, specifically those of the US were quantitatively small in capital andnumber of employees, but qualitatively they were quite important in disseminating
management technique and technology in Japan. Accordingly, the influence of foreignbusinesses in Japan, especially multinational companies, was of great importance.
Other papers read were "The Contributions of Foreign Enterprises" by M.
WILKINS (Florida International University), "British Business Interests in Japan
before 1941" by S. NICHOLAS (University of New South Wales), "British Multi­
Nationals in Japan 1900-1941: Vickers, Armstrong, Nobels and the Defence Sector"
by C. TREBILCOCK (University of Cambridge, Pembroke College), "Ties Between
Foreign Makers and Zaibatsu Enterprises in Prewar Japan: Case Studies of Mitsubishi
Oil Co. and Mitsubishi Electric Manufacturing Co." by Nobuhisa FUJITA (Ryukoku
University), "Economic Relations between Switzerland and Japan from the Beginningto the Second World War" by F. JEQUIER (Universite de Lausanne), "Temporary
Guests: Western Electric and ITT in Prewar Japan" by M. MASON (Harvard
University), '"Japanese Business Management' in Pre-War Electrical Machinery
Industry: Emergence of Foreign Tie-up Companies and Modernization of Indigenous
Enterprises" by Toshiaki CHOKKI (Hosei University), "L'Air Liquide, Pioneer ofFrench Industrial Presence in Japan Between 1910 and 1945" by J. LI (Universite deLyon), "German Companies in Japan in the Interwar Period: Attitudes andPerformance" by E. PAUER (Universitat Marburg). The proceedings of thisconference will be published as usual next year.
(Etsuo ABE)

- 25 -JAPAN SOCIETY OF BUSINESS MATHEMATICSAt the 30th Annual Academic Meeting, June 4 and 5 1988, at the Kobe Universityof Commerce, ten research topics were discussed under the unifying topic, "TheMathematical Approach to Business Organization".
Professor Kesato FU JISAWA of Kanagawa University spoke in commemoration of
the 30th anniversary of the Society and Professor Yukio GOTO of the Kobe Universityof Commerce addressed participants on "Contemporary Problems of Business
Mathematics".
Five papers were subsequently published in the Annual Report of the Japan
Society of Business Mathematics. Setsuo OHNARI (Hitotsubashi University) discussed"Preference Relations Induced by the Restriction of the Decision Maker's Action". He
designed a choice function based on the strategy set of the decision maker, from which
he derived the decision maker's preference relations rather than from the strategy set.
Kazuyoshi KIMURA (Tokyo Rika Daigaku), Hideho NOZU (Japan Printing
Company), and Koji MATSUOKA (Tokyo Rika Daigaku) jointly presented a paper
entitled "A Study of Organization and Productivity". They compared organizations one
consisting of a single process of production with another involving a multiple process of
production. They concluded , using a simulated model of a firm, that there was nodifference between the relative efficiencies of the two organizations when small
quantities of a variety of products were produced. Shigeo OHTSUKI (Tokyo
Metropolitan Polytechnic) proposed a forecasting system to meet a fluctuating demand
which was more dependent on a computer than on a conventional system. He
incorporated an expert system based on the artificial intelligence. He claimed that an
intelligent method of identifying a type of demand fluctuations contributed to theenhancement of the reliability of the forecasting system and that this method wassuperior to the commonly-accepted method of complicating a system by increasing thenumber of variables. Nobuhide TANAKA (Gakushuin University Computer Center)
considered "A Graph-Theoretical Algorithm to Determine a Canonical Form Based on
the Cyclic Expansion of a Graph". Since a complicated graph had many expanded
subtrees, it had been generally considered to be difficult to choose a desired one out of
the subtrees. He developed a new algorithm which could select a particular subtree.
Minoru YOSHIDA (Shiga University) conducted "Sensitivity Analysis of a Production
Program Which was Smoothed out in Response to Changes in Demand".
Hiroshi SAKAGUCHI (Josai Daigaku) considered "Motivating Factors in the
Budgetary Control". Kyoji UEDA (Mitsubishi Motor Company) analyzed "TheDemerits of a Scale in Sales". Daisuke SHIRAISHI (Nabari High School) examined"The Role of Slack Variables in Linear Programming".
(Hiroshi MATSUO)- 26 -JAPAN SOCIETY OF COMMERCIAL SCIENCES

The 38th annual national convention of the Society was held at Chuo University inTokyo on May 26-27, 1988. The main theme of the convention was "Networking andDistribution/Marketing."
This theme was chosen because entire industries in Japan are now trying toincrease their decision-making and daily operation efficiency by building information
networks between their headquarters and branches, suppliers and buyers, and retailers
and ultimate consumers. Thus the theme'networking'is now the corporate mottounder which every company strives to surpass its competitors in a more intelligent useof information networks.
The various approaches are: Point-Of-Sale Scanning (POS), Value Added
Networks (VAN), Videotex (CAPTAIN and N APLPS), Data-Base networks, personal
computer communication networks, electronic mail, and so on. These were used either
independently or in combination, depending on the type of company operation, lines ofmerchandise, size, and competitive situation.
The main topic could be discussed either in terms of business operations or oftechnology. Since most of our members are in non-technological fields, all papers
presented at the convention concerned networking in terms of executing business
operations efficiently. Seven members gave papers on networking.
Saichi NEGUI of Shoin Women's College and Munehiko KUWATA of Kanto
College presented papers on general views of networking under the titles "Marketing
Strategy in the Age of Networking," and "Network and Differentiation," respectively.
Four members concentrated their attention on the relationship of networking to
distribution. Tomoo NOGUCHI of Chukyo University gave a paper on "TheInformation Network and Retail Distribution ー Information Processing Structure
Towards Adapting to the Proliferation of the Market." Eiji MIIE of Kyoto Gakuen
University presented a paper on "Networking in Retail Enterprises." Yuuichi
KISHIMOTO of Momoyama Gakuen University read a paper "On the Economic
Effect of Information Networking in Agricultural Products Distribution." Toshimi
TAN AKA of Sophia University presented a paper on "The Present State and Tasks ofMail-Order Selling-New Networking for the Creation of Business."
Eisaku YAM ADA of Kanto Gakuen University presented a paper on the role ofmulti-national companies as network intermediaries under the title "The Network
Function of Multi-National Enterprises."
Among the other papers presented, the largest number were in some way
connected with buyer behavior. The followings are those papers: "Consumer
Information Processing Strategy in the Process of Purchase Decision-Making一Computer Simulation by LISP" by Toshihiko MIURA of Chuo University.
"Suggestions for the Grasp of In-Store Purchase Behavior and Store Management
Based on the Moving-Line Analysis" by Takayuki WATANABE of Gakushuin- 27 -

University and Tetsu KOBAYASHI of Keio University. "The Degree of Involvement
and the Purchase Decision-Making Process" by Katsumi NAKAYAMA of Matsuyama
Commercial University and Koichi NAKAYAMA of Josei University. "The
Involvement Concept and Consumer Information Processing―Concentrating on the
Validity of Concept, Scale, and Measurement" by Y ukihiro AOKI of Kwansei Gakuin
University, Michitaka SAITO of Keio University, Tetsuo SUGIMOTO of Shizuoka
Prefectural University, and Takeshi MORIGUCHI of Distribution Economics Instituteof Japan. "Life-Style and Media Through Which Merchandise Information is Gained
Trends Toward Multi-Strata and Multi-Stage" by Ryouzo YANAGIHARA ofMarketing Service, Inc. "Measurement of Advertising Effectiveness by POS Data andStorefront Marketing" by Hiroshi OTSUKI of Distribution Economics Institute ofJapan.

—(Koichi TANOUCHI)- 28

JAPAN SOCIETY FOR COMMODITY SCIENCE

The 39th national convention of the Japan Society for Commodity Science washeld between May 14-16, at the Sanuki Kaikan Hall, Takamatsu, Kagawa.
The theme of this symposium was "The development of the Commodity Science
today". Commodity science as a discipline has been making steady progress, todiversify its function or form through the development of production technology andcirculation technology. Moreover, information and service has been attracting muchattention as a form of economic activity. Because of this, reference to exchange
economics has been increasing. It is our aim to understand the diversity and to develop
the concepts of commodity science.
Sub-theme I

From the consumer's point of view.

(1) "Comparison of commodity and consumer's sentiment" by Minoru YANOTO(Fukuoka Prefectural Orio Senior High School). YANOTO sent out questionnaires on
cow's milk and soy milk, and analyzed the results. He noticed that consumers do judge
the quality of the product by the image which is created by both producers and sellers.
He called this process the formation of the consumer's views. (2) "Consumer's
behaviour observed through beer" by Naoto ONZO (Waseda University) and Junzo
UEMURA (Japan Reserch Institute for Consumer Economy)). ONZO and UEMURA
researched using various sources of information. They were able to make somecorrelation of their findings by studying the perception of product difference throughthe eyes of persons of varying age groups.
Sub-theme II

The economics of consumer service.

"Change the concept of service as a commodity in the field of the economy" by
Yoshimitsu TORIGOE (Okayama College of Commerce). TORIGOE insisted that
commodity science should study everything that is dealt with in the market place,including both material and immaterial goods. He also believed that the consumer
expects a good image of the goods and of the service available at the time he trades.
He wished to emphasize the importance of the commodity image in our studies. He
was also concerned with the semiotics of the subject .
Sub-theme III

From an international view point.

"Marketing and commodity science — Comparison among Japan, China and USー”
by Mitsuharu MITSUI (Kobe University of Commerce). Mitsui reported following his
experience of studying in China and US of the differing concept of product, goods,
commodity and merchandise in these countries. He did note though that merchandising(producing goods according to the consumer's requirements) is understood in bothcountries. He also wished to develop commodity science through developing theories in
the field of merchandising.
Sub-theme IV

From the local view point of commodity.

(1) "Commodity and regional development" by Koichi IMAMITSU (Aichi Gakuin
University). IMAMITSU pointed out the limitation of the analyzing method (based on- 29

the comparative advantage of the productive factor) on the prosperity and decay of theregional commodity. He also believed that commodity theory itself was in a way ofvalue in the lives of the consumer. (2) "On the formation of a character of commodity
in the regional industry, Somen (Japanese Noodle)" by Takao IKEGAMI (Kinki
University) . IKEGAMI explained that there are two factors the scientific factor andthe managerial factor, which determines the quality of the commodity. When the
combination of these factors satisfies the consumer then it becomes a best sellingcommodity. In the case of Noodles like Somen he emphasized the importance of the
managerial factor.
Besides the symposium, there was a discussion on the subject of "The Education of
the customer in Commodity Science".
In any economic society, where division of labour is highly developed, people
obtain the greater part of the desired goods and services as commodities . Their lives
are divorced from productivity. People's lives are involved with the exchange economy.
As members of this society we are concerned with the education of the consumer andwith the economic behaviour of society.
(1) "How the education in commodity science respond to the improvement inpeoples'lives" by Kenro TAKATORJ (Yamaguchi University). (2) "Present consumer
problems and consumer education" by Takao NISHIMURA (Yokohama City Minato
Commercial Senior High School). (3) "Wealth and education in commodity science" by
Masao UNO (Waseda University).
TAKATORI emphasized the importance of commodity science to every part ofsocial public and citizen education. NISHIMURA believed that consumer education isa kind of preparatory education for all members of society . Education in commodity
science should have the object of raising the consciousness of the consumer. This willproduce sound enterprises. UNO emphasized that education in commodity scienceshould be done in two phases involving the consumers, who should know how toremain independent as consumers and the suppliers, who must satisfy the demands ofthe intelligent consumer.
There were also five further studies on free topics in addition to those discussed
above.
(Kazuhiko SAKAIRI and Ryojiro IWAKI)- 30 -

THE SOCIETY OF ECONOMIC SOCIOLOGYThe 24th annual conference of this society was held at the Department of
Literature, The University of Tokyo, on September 24th and 25th, 1988. Within themain theme, "Development" various types of theory and facts were discussed. The
conference aimed at setting general perspectives in contemporary conceptions of social
development and examining the experiences of socio-economic development or
evolution in various countries.
The first session concentrated on new theories and experiences in Asian societies.
Shigeto SONODA (The University of Tokyo) developed his ideas and observations in
the framework of China. He first took notice of the expansion and globalization ofdevelopment from some nuclear sectors already formed, in which conflicts between
essentialism (self-traditionalism) and epocalism (Westernization) is likely to arise, as C.
Geertz has already pointed out. Chinese socialism was one typical experience based
exclusively upon a closed essentialism, but unfortunately followed a revised version ofimported Marxist ideology instead of its own native philosophy. Anyone trying to open
the country during cultural revolution from 1960's to 70's was at once expelled ascapitalistic revisionist. Since then a policy of Westernization intended to introduce themarket mechanism has been followed, despite some reactions. This is expected to open
a new way for Chinese socialism.
In the second report,'Education and Economic Development in Korea', Mitsuhiko
IMURA (Nagoya Gakuin University) tried to make clear the relationship between
extention of elementary education and contemporary economic growth in South Korea.
In the days of Japanese colonial rule the percentage of school attendance fluctuatedwildly, first rapid growth, next sharp decline, and then, after 1932, a great increase up
to about 50 percent. Since the end of the Second World War, school attendence in
Korea has increased remarkably which seems to have had profound economic
consequences in contemporary Korea. This historical note reminds us of theaccelerating role of intelligence and the human factor in socio-economic development.
As a sociologist, Yoshifusa NAITO (Nagoya City University) based his report
entitled "Towards a Reconstruction of Development Theory" upon the experience of
the NIEs'. He proposed a revised theory of development, integrating non-economic
aspects like value, culture and institutions. According to NAITO, there are three typesof theory. These are approaches which include the economics approach like theneoclassical growth model by Solow etc, historical approach like Rostow's stages theory
and economic sociology approach by Hoselitz and Moor. These now must consider thedevelopment phenomena in the NIEs. A new theory must systematically be composedof factors like stable political order, economic identity of nation with well designed
economic policy, positive and innovative entrepreneurship, manpower with relatively
high education, and the stable world. economy which allows continuous technology
inflows. NAITO presented a picture showing the structure of development covering- 31 -

personality, organization, institution and culture.
The second session produced some interesting theoretical reports. Takatoshi
IMADA (Tokyo University of Engineering) provoked a heated discussion by his
speech "Development and Self-organization". His main point was to build a new social
theory suitable for the so-called'post modern stage' where we can not see developmentin optimistic ways. He explained the transformation from a function-oriented modern
society with efficiency principle into a'meaning-oriented' post modern society, freefrom efficiency principle. The old type of development theories were strongly function­oriented. IMADA instead proposed a new paradigm called'self-organization', in which
self-reflection and autonomy play decisive roles. The post modern society encourages
people to behave in ways based upon'difference-principle'. This will be the mostimportant characteristic of the coming post modern society.
Teruya ODA (The University of Tokyo) gave a very interesting presentation, "Re­examination of Late-comer's A dvantage". He considered the interaction and dynamism
between internal factors and external ones within a nation. ODA argued that a nation
is a system, making certain adjustments between itself and its environment. The late­comer can utilize external factors only when the internal system has been prepared toaccept external ones. The difference between the advanced runner and the late-comer
is only relative; what is vital is to get information necessary for control.
The last challenging report, "Evolution Theory and Theory of Society, withreference to social Darwinism", was read by Takao UEYAMA (Osaka Gakuin
University). Social Darwinism has long been neglected. We know of Wilson's'Sociobiology'. The latter is a development of social Darwinism. UEYAMA reminded
us of the history of social Darwinism by referring to association psychology and
Lamarckism which was attractive for social theorists because of its acceptance of ideas
like adaptation to the environment and to the autonomous will of society.
The conference was successful in giving us some useful theoretical contributions
and empirical findings. The Society had other small meetings respectively in the Kansai(Western) division and the Kanto (Eastern) division to discuss topics such as
contemporary theory of organization, conflicts, trends of socio-economic life and so on.
This Society is moving beyond 'economic sociology', towards interdisciplinary
approaches including 'economy, society and culture'. This may be said to reflect thefact that, as an information and communication sector, an academic society itself is alsoa very creative part of fluctuating human society.
The 25th annual conference is scheduled to be held at O saka Gakuin University in
September, 1989. The society is planning to discuss'Social Conflicts, Theory andReality', as the main theme for the general session.
(Y ukimasa NAGAYA SU)- 32 -

THE SOCIETY FOR THE HISTORY OF ECONOMIC THOUGHT

The 52nd National Convention of the Society for the History of the Economic
Thought was held at Senshuu University in Tokyo on November 5 and 6, 1988. There
were presentations of 13 papers which dealt with C. Davenant, J. Anderson, T.R.
Malthus, D. Ricardo, J.S. Mill, H.H. Gossen, M. Weber, Y. Fukuzawa and someothers. Fukuzawa was one of the famous pioneers who introduced European economic
thought to Japan. In addition, we had an extra-lecture, given by Prof. J.G.A. Pocock(Johns Hopkins University), on "The Growth of Political Economy in eighteenth
century Britain." The common theme of the convention was "The Formation of
Political Economy — especially with respect to James Steuart." We had three papers
and fruitful discussions under the chairmanship of Noboru KOBAYASHI (Daito-bunka
University) and Shigeshi W AD A (Chuo University).
KOBAYASHI gave some introductory comments on the common theme,
suggesting that Steuart's "Principles" and Smith's "Wealth of Nations" should be so
regarded as complements each other, and that we should take notice of the theoretical
succession from the one to the other. It was his intention to recall Steuart's theory
which surely has a great theoretical value in the formation of political economy, and is
yet in need of rescue from underestimation, both in Japan and in Europe.
The first paper, read by lkuo OMORI (Waseda University) was on HThetheoretical frame-work of the earliest theory of monetary economy." The basis onwhich he stands was that Steuart should be regarded as the founder of a system ofpolitical economy which was a contrast to that of Adam Smith. He stressed that, in
Steuart's theoretical framework, there was a kind of sy nthesis of both commodity andmoney analysis. Steuart not only dealt with the economic policies to create theeffectual demand, but also analysed its theoretical foundation in the form of pricetheory. In this sense, OMORI maintained that we could see in Steuart's system theearliest theoretical attempt to unify both the macro economic policy and the micro
economic theory. OMORI undertook to show that, other than the critique of Hume'squantity theory of money, the theoretical analysis of the competition, the demand andsupply curves, and the equilibrium prices, can be seen to a considerable extent.
The second paper was read by Hiroshi TAKEMOTO on the theme, "TheDiscovery of the modern society by means of Political Economy." He argued that not
only Adam Smith but also James Steuart should be honoured as founders of political
economy. He tried to compare Montesquieu, Hume and Steuart. According to
TAKEMOTO, Steuart learned Montesquieu's sociological method and comparedhistorically the different social relations in the different ages of human history. In his
view, Steuart did not think that the modern sy stem of commodity exchange was the
only way to make human beings happy. It accompanied moral corruption on the one
hand and intellectual progress on the other. Steuart's "industry " meant a particularkind of alienated labour specific in the modern society , but at the same time, it made- 33 -

possible the splendid refinement of human life. On account of Montesquieu's influence,
Steuart's political economy was born as a political system, in which the so-calledautonomy of the modern economy could only be maintained by the cooperative
activities of the state and the common people. He pointed out that Steuart had not theidea of "natural law," and that he regarded liberty in the modern society as unstable,
and capable of being lost in the same way as it was established.
The last paper was given by Nobuyoshi KAWASHIMA(Seinan Gakuin

University) under the title of "The modern crisis for James Steuart and the formationof Political Economy." He showed that the controversy between Hume and Wallace on
the population problem whether it had increased or decreased in modern age, incomparison with the ancient times , was understood by Steuart as a kind of the crisis inmodern societies. KAWASHIMA maintained that this controversy gave him a strong
incentive to inquire how the employment of the people could be enlarged in the various
fields of industry, so that "the good of the people" could be realized. This was
supposed to have been one of his main concerns which led him to establish his systemof political economy. KAWASHIMA stressed that Steuart did not wish to follow theEnglish way of modernization, but sought another way via Europe, which was believed
to be more appropriate for the historical circumstances of Scotland. He also stressedthat Steuart had in his view a shape of society which was entirely composed of small
producers and tradesmen. This meant that Steuart did not have any clear concept ofcapital. So, in his system, there could not be any concept of the original accumulationof capital, as was seen in Marx's system, for this meant the process of the originalformation of "capital" , which could only be thought of with the concept of "capital".
Let us now turn to the free discussions which followed. Akio HOSHINO (Kanto
Gakuin University) asked how Steuart's Political Economy related to modern
individualism. He doubted whether it was possible to establish a system of political
economy, as a basic part of the modern social science, with such ambiguous attitude as
Steuart's to the modern individualism. Kyoji TAZOE (Fukushima University) posed aquestion that, though Steuart did not observe the coercive force of capital and thecorrespondent forcible role of the state in the original accumulation of capital, he,nevertheless, described in detail the facts of the process in which peasants were
expelled from the land, and this fact must not be neglected. Daisuke ARII (Japan
College of Social Welfare) raised the question as to the validity of applying theterminology of the modern economics, such as equilibrium price, demand curve or
elasticity, directly to Steuart's political economy. Finally Shoji TANAKA (Kanagawa
University) argued that political economy as a science could be said to have been
established only when the antithesis between civil society and the state was duly
recognized. He threw some doubt on the implication involved in the common theme
itself that Steuart, like Smith, recognized fully this antithesis. The next national
convention 1989 is scheduled to be held at Kyushu University , on November 4 and 5,
1989.
(Shigeshi WADA)- 34 -

THE JAPAN ASSOCIATION OF ECONOMICS ANDECONOMETRICS

The Japan Association of Economics and Econometrics was founded in 1947 withthe aim of studying and promoting academic research in economic theory andeconometrics. Since then, however, the Association's activities have expanded
significantly. Currently its activities cover all the areas of economics; such as economic
theory and mathematical economics, game theory, economic policy in general, publicfinance and taxation, monetary policy, corporate finance, international trade andinternational finance, industrial organization, economic development, agricultural
economics, econometrics and economic statistics. The membership of the Associationconsists of academic economists/econometricians as well as researchers affiliated togovernment/private institutions. The Association has currently 1,903 individual as well
as 16 institutional memberships.
The main activities of the Association consist of publishing The Economic Studies
Quarterly (Kikan Riron Keizaigaku), holding ann叫general meetings, and co­sponsoring the Far Eastern Meeting of the Econometric Society when it is held inJapan.
The Economic Studies Quarterly, an internationally established academic journal,
written mainly in English is now publishing volume 40. It is open to all researchers in
the field of economics around the world. Non-members as well as members of the
Association are welcome to submit unpublished research articles for editorialconsideration. The Journal will be published four times a year in March, June,
September, and December. Prospective contributors may find the submission
procedure in the penultimate page of the first (March) issue in each volume.
This year's annual general meeting was held at Kyoto University on September 23
and 24. There were twenty-three sessions, in addition to three panel discussions andthe presidential address.
In the regular sessions, eighty-nine papers were presented altogether, abstracts ofwhich were printed in the Riron-Keiryo Keizai Gakkai 1988 Nendo Taikai Hokoku
Yoshi (Abstracts of Papers Presented at the 1988 Annual Meeting of the Association of
Economics and Econometrics). List of the titles of the papers presented was also
published in the Economic Studies Quarterly, Vol.39 No.4, 1988.
The titles of three panel discussions were; (i) Present Conditions of Research and
Education in Economic Theory, (ii) Problems of and Measures against Urbanization,(iii) Stock Market and Depression.
Professor Yoichi SHINKAI (Osaka University), the current president of the
Association, delivered the presidential address under the title of "On the International
Coordination of Macro Policies", and this was published in the Economic Studies
Quarterly, Vol.40 No. l.
This year's annual general meeting was organized by the program committee which- 35 -

consists of: Hiroshi YAMADA (Chairman, Kyoto University), Yoichi SHINKAI (exofficio, Osaka University), Hiroshi ENOMOTO (ex officio, Aoyama Gakuin
University), Isao OHASHI (Nagoya University), Yasuhiro SAKAI (University ofTsukuba), Shin-ichi TAKEKUMA (Hitotsubashi University), Shuzo NISHIMURA(Kyoto University), Kanemi BAN (Osaka University), Hajime HORI (Tohoku
University), Yuzo HONDA (Kobe University) and Kimio MORIMUNE (Kyoto
University).
This year's annual western regional meeting was held at the Hiroshima University.
The next western regional meeting will take place at the Doshisha University in Kyoto.
This meeting will be held simultaneously with the Far Eastern Meeting of the
Econometric Society, which shares the site.
(Masahiro OKUNO-FUJIWARA)- 36

THE JAPAN ASSOCIATION OF ECONOMIC GEOGRAPHERS

The discussion session of the 35th national convention was held on May 15th, 1988

at Hiroshima University and the outing to Innoshima was on the following day — under
the joint auspices of the Hiroshima Geographical Association. In addition, our threebranches, the Kanto chapter, the Chubu chapter and the Kansai chapter held several
regular meetings. The journal, Annals of the Japan Association of Economic
Geography, was published on a quarterly basis.
The common theme for the national convention was "Structural Adjustment ofIndustry and Regional Economy in Japan". The organizers hoped that discussion
would concentrate on regional differentiation, especially in nonmetropolitan areas, theadjustments necessary in the changing Japanese economy and the recent regional
policy of central government.
Under the chairmanship of Toshifumi YADA (Kyushu University) and Mitsuo
YAMAKAWA (Fukushima University) three members presented their reports; Koji
MATSUHASHI (Meiji University) on "Decentralization of Machinery Industries andChanging Regional Structures of Manufacturing Industry in the Peripheral Regions",
Makoto MURAKAMI (Hiroshima University) on "The Structural Depression of
Manufacturing Industries and their Impact on the Regional Economy" and Yasutoshi
NAKATO ( Toyama University) on "Regional Policy and the Structural Adjustment ofJapanese Industry". Masaya YANAI (Okayama University), Isao TOCHIMOTO(Hiroshima University) and Noboru UENO (Miyazaki University) commented onthese reports.
MATSUHASHI firstly pointed out that machinery industry (consisting largely ofassembly plants) have grown rapidly in peripheral regions and have replaced resource­oriented and marginal industries.

This process has been charactered by thedecentralization of branch plants of engineering industries toward peripheral regions.
Since the rapid evaluation of the Japanese yen in autumn 1985, however, major
corporations have increased their foreign investment so that the production plants inperipheral regions are under the pressure of keen competition with production
overseas. YANAI, as commentator, pointed out the differences of the growing period
between machinery industry of old mass-production and that of new high-tech type. He
also noted the regional division of labor and the technological removal within a big
corporation.
MURAKAMI was mainly concerned with the rationalization of the ship building
industry in Seto Inland Sea area, a typically depressed heavy industry and the damage
to the local economy, in the case of Innoshima, the so-called "industrial castle town" of
Hitachi Co. where before final closure 70% of the workers were discarded. As theemployees left Innoshima to find a new employment, population and retail turnovers
dropped as did tax revenues of the city. Commentator TOCHIMOTO noticed thetraffic situations of Seto Inland Sea islands and its possible development as an alternate- 37 -

economic development of Seto Inland Sea islands.
The last presenter NAKAT O explained the effects on the regional economy of
economic restructuring from export-oriented to nonexport-oriented industries. But the
one-core system of economic structure has intensified the regional disparity between
Tokyo and nonmetrop olitan areas. For criticizing the implications of the FourthComprehensive National Development Plan, he emphasized a regional policy that will
make nonmetropolitan areas more self-supporting in terms of living conditions as wellas in economic development. In commenting on NAKATO's paper UENO emphasizedan alternative regional policy to the Japanese one-core system. A million city now
growing in nonmetropolitan areas should become main competitors with Tokyo.
The chairman attempted to use the discussion time effectively. First, theproduction system of Japanese style, especially the on-going division of labor between
male management and female part-time labor (Isamu OH TA: Toyo University), thechanging process of social class which was related to the location of big corporations(Terutoshi ISHIHARA: Okayama University), the problems caused by spatial
emptiness as oversea investment took industries abroad (Hiroshi MATSUBARA:
Seinan Gakuin University), the growth of high-tech industry exceeding assembling
plants (Hiroo NAIT O: Ochanomizu Women's University) were questioned on thetheme reported by MATSUHASHI.
On the issue of the ship building industry Masayasu MURAKAMI (Nara
University of Education) noted the integration of plants in high productivity areas andreferred to Innoshima as a special case caused directly by the management policy of
Hitachi Co. NAITO asked about the small plants newly established by Hitachi Co.
Following a request from the chairman Akira NAGAOKA (Meiji University)
examined the case of Spain as an example of new investment. TOCHIMOTO,
ISHIHARA and Akira YAMASAKI (Ferris Women's University) discussed possible
resort development in depressed areas while Kazutaka TAKAHARA (Sapporo Gakuin
University) and Tsuguo NAKAZATO (Fukuoka University of Education) looked atregional development through the leisure industry in Hokkaido and throughagricultural development in southern Kyushu, respectively.
Finally, conference considered the possibility of a shift in regional policy from a
one-core to a multiple-core system (OH TA), and, in addition, the likelihood of cities
other than Tokyo, coping with some of the decentralized functions (Tatsuya CHIBA:
Meiji Gakuin University), the location problem and spatial differentiation between
secondary and tertiary industry (Iwao KAMOZAWA: Hosei University;
TOCHIMOTO), the poor political skills of local self-government (Atsuhiko
TAKEUCHI: Nippon Institute of Technology Economics), the problem of rural areas
developing regional policy based on leisure industry, (Motosuke ISHII: Meiji
University) etc. also discussed aspects of NAKATO's paper.
(Hiroshi MORIKAWA)- 38 -

一JAPAN ECONOMIC POLICY ASSOCIATION

The annual convention held at Nagoya University on May 27-29, 1988 wasdevoted to A Decennial Review of the Theories and Realities of Economic Policy — thefourth such attempt in the 45-year history of the Association.
The meeting began with a special symposium organized by the Inter-Association
Committee

onEconomic

PolicyResearch(Chairman,

Hiroshi KATO,

Keio

University), reviewing the shifting features of Japanese economic policies during thedistinctive phases of postwar structural transformation. Saburo OHKITA (International
University of Japan) led the discussion by clarifying what constituted major turning
points in the country's economic policy-making in relation to its changing external
constraints

and

the

underlying

globalstructuralchanges.

The

increasinglyinterdependent and pluralistic world society required a firmer framework for its
economic policy. The objectives should include attempts to improve "efficiency","welfare" and "sustained development", especially in the context of development
cooperation. Seizo OHKAWA (Tokyo International University) and Kohjiro NUNO
(Kobe University) followed, with a systematic account of fiscal policy and industrial
policy, reflecting their roles as turning points over the past several decades.
The second component of the convention consisted of a set of five thematicallyspecialized sessions: (1) fiscal and monetary policy, chaired by Hirotaka KATO (Soka
University), (2) industrial policy, chaired by Masu UEKUSA (The University ofTokyo), (3) regional and urban policy, chaired by Hirotada KONO (University ofTsukuba),(4) international economic policy, chaired by Tsuneo NAKAUCHI(International Christian University) and (5) factors in policy-making (or the public
choice approach), chaired by Hisao ONOE (Osaka Sangyo University). Altogether 16
studies were presented in these sessions.
The concluding event took the form of plenary "common theme" sessions
concentrating on controversial issues in the theories of economic policy. Taketoshi
NOJIRI (Kobe University) presented an extension of the German "stratum theory"(Schichtenlehre der Wirtschaft) and stressed the need for a structural policy to promote
the desired institutional transformation — reorganization of industry, life and space so
as to cope with the consequences of the major changes in natural and environmental
resource bases (as experienced since the 1970s) as well as the changing human andcultural foundations of the Japanese economy (which have become increasingly
palpable during the 1980s).
Naomi MARUO (Chuo University) responded to this structualist preoccupation byreferring to the major thrusts of the various critiques of Keynesian economic policy (asput forward by monetarists, supply-side economists, post-Keynesian schools, public
choice schools, radical economists, institutional economists, etc.); he argued that there
was need for a system-reformative policy concept that could combat both thestagflationary trend of the current economy and the distributional unfairness, and- 39 -

advocated specifically such notions as employees'equity participation by means of a
profit distribution mechanism, and also the interest subsidization approach in domestic
demand expansion policy for the sake of fiscal sanity. As for the latter point, Mitsuharu
ITOH (Kyoto University) extended his reflection to Buchanan's criticism of theKeynesian policy in its implementation phase — in particular the resistance of interest
groups and politicians to the accumulation of fiscal surpluses during the years of
economic prosperity. He stressed the need for a tax reform that would ensure fiscal
surpluses during phases of full employment.
Mitsuharu INAGE (Nagoya University) dwelt upon the problem of policy-mix inachieving three basic goals of macro-economic policy: full employment, pricestabilization and balance-of-payments equilibrium, and presented a detailed analysis of
the nature of "feasible policy goals" especially in terms of acceptable current accountbalance in a dynamic perspective, taking into account external debts and asset
accumulation. He also drew attention to the sluggishness of adjustment for external
disequilibria during the period of rapid dollar depreciation since the 1985 Plaza
Agreement, and its micro-economic implications in terms of market structure, firm
behavior and other industrial organizational problems associated with such prolonged
external disequilibria.
These reports in the plenary meetings were reflected upon in a panel discussion
with Toshinosuke KASHIWAZAKI (Waseda University) and Shoichi MIZUNO(Nagoya University). Zenichi ITOH (Tokyo Women's Christian University) took therole of co-ordinator. In his final recapitulation, ITOH emphasized that the failure ofKeynesian economics must have been due more to the misdemeanors of the various
interest groups, intervening into the political process of actual policy-making, than to
the theoretical concepts and frameworks of Keynesian economics per se.
Finally, it should be noted that, in commemoration of its 40th anniversary and as
part of its regular Decennial Review of the Theories and Realities of Economic Policy,
the Japan Economic Policy Association has edited and published two separate volumesof articles on Japanese economic policies entitled Keizaiseisakugaku no Tanja (Birth of
Economic Policy Studies) and Keizaiseisakugaku no Hatten (Progress of Economic
Policy Studies). These are published by Keiso Shobo.
(Mikota USUI)- 40 -JAPAN FINANCE ASSOCIATION ANNUAL CONFERENCE 1988

Our Association held its 12th annual national conference on the theme of "Financeand Investment of Corporation" at Kinki University on October 8 and 9 1988.
Our business finance research has been much influenced by American new"Finance Theory", turning out almost similar pricing theories in security valuation
models to those of USA. But these normative theories are not yet efficient in
explaining our real TOKIO Securities Exchange behavior and corporate financial
practices. On the other hand, Japanese corporations do practice some characteristic
behavior, as KIGYOSY0DAN (big business interest grouping , mutual share holding
between corporation), ZAITEKU (profiting through active trading on financial
markets), ultimate managerial control of corporation opposite to neo-classical ownercontrol hypothesis and so on. Our main theme of 1988 Conference gave us all theopportunity of hearing of these problems in Japan and taking part in much original
discussion. Throughout discussions, Prof. SAKAMOTO (Soka University) emphasized
the close relationship and world wide network among Japanese "big business interest
group". His argument rested on his case study of Mitsubishi Bank's banking andsecurities activities in USA (California) and Korea (Seoul) and Australia. Prof.
MIZUNO (Fukuoka University) investigated Japanese firm's financing behavior interm of cash-pay-out capital cost in stead of term of traditional neo-classical owner­
oriented capital cost. By his new approach to management control, he succeeded tosome degree in explaining the current tendency of Japanese corporate financing
practice in using the convertible bond and warrants securities. These financing meansare dependent on the current rising tendency of Japanese corporate income and stock
prices in TOKIO Securities Exchange, and corporate executives are now taking
advantage of this stock market appreciation.

Prof.

TAK AHASHI (St.

Paul's

University) tried to explain the "Stock Value (Stock-holder's Wealth) Maximization
Principle" as a leading objective in academic corporate financial management theory
from his own careful observation of recent merger and acquisition movements in USA.
He pointed out that financial institutions especially the banking systems had played an
important role in these tender offer undertakings. He tried to assess the views of thesefinancial circles of the now prevailing "Stock Value Maximization Principle" ofmanagement. Prof. TAKAHASHI's contribution lies in connecting the dogmatic
objective "Stock Price Maximization" in theory with the real behavior of business in M
& A, for the traditional objective itself is, as yet, neither proved nor founded
empirically.
Prof. USHIYAMA (Kyushu University) stressed that the "Deutsche Bank" hadplayed an important role in organizing big business in West Germany. It has mademuch profit through its financial strategies in recent years. "Deutsche Bank" as theuniversal bank had maintained close relationship with "DAIMLER-BENZ" throughstock-holding and stock deposit from stockholders. By securities business and financing- 41 -

activities the Bank had assisted "DAIMLER-BENZ" to control "MTU", "DORNIER"
and finally "AEG". Prof. USHIYAMA demonstrated modern controlling role of theDeutsche Bank in industrial enterprises.
Main theme "Finance and Investment of Corporation" Sessions
Reporters and their presented papers were as follows.
Hideki FUJII (Kinki University); The Role of Accounting Measures in the
Financial Regulation of Public Corporations — Case Analysis of UK Nationalised
Industries
Hiroshi MIZUNO (Fukuoka University); A Corporate Finance Model from theManagerial View
Tuneo SAKAMOTO (Soka University); Financing Characteristics of Japanese andAmerican Business Group
Akira KOMATSU (Saitama University); Japanese Corporations: challenge andchange.
Syouzou HORI (Aichi University); The Formation of Capital Structure, The Roleof Information
Suguru USHIYAMA (Kyushu University); Corporate Grouping and the "Deutsche
Bank", Financial Strategy since 1980
Panel Discussion "Managerial Capitalism and Corporation Finance"
Panelists and their presented papers were as follows.
Akio MORI (Kobe University) acted as the coordinator of discussions between
panelists and audience.
Syouzou TAKAHASHI (St. Paul's University); Managerial Capitalism in
Corporation FinanceSinobu MURAMATSU (Seikei University); On the Agency Approach to"Management vs Stockholders Relations"
Hisashi MASAKI (Doshisha University); Managerial Capitalism in Corporation
Finance
Rinnya SHIBAKAWA (University of Tsukuba); The Agency Approach toBusiness FinanceTsutomu OHKAWA (Osaka City University); The Role of Expert-System in
Corporate Planning(Michihiro IKOMA)- 42

JAPANESE ASSOCIATION OF FISCAL SCIENCE

The 45th annual meeting of the Japanese Association of Fiscal Science was held at
Keio University on October 8 and 9, 1988. The meeting received twenty-one papers
and held a symposium.
Given that Japan will soon be confronted with a rapidly aging population anddecreasing economic growth, the public finance system, especially the Taxation System,
should be critically examined to see if it is adaptable to such conditions.
Reflecting the interests of the Association's members, two common subjects were
presented. One session and a symposium were organized under each subject on thesecond day.
The session was organized under the title of'Public Finance Problems in a Society
with an Aging Population'. Three papers were presented.
Shoichi MIZUNO (Chukyo University) considered the conditions under which theparadox of public pensions occurred in an "overlapping generations" model.
Koichi EMI (Teikyo College) examined a taxation system in the society with aging
population. He considered an increase of burden to the general public as a result of theneed to augment medical cure & care for the aged. He then mentioned estimates of
future social security costs and their allotment by liability. Finally, he investigated a tax
reform and a society with aging population.
Sei FUJITA (Kinki University) mentioned a tax reform and considered how to tax
pension incomes. He examined a tax on both public and private pension incomes
including company pensions. He believed that it was important to examine thepossibility of a tax on private pension incomes, taking account the problem ofbalancing an income tax system with a social security system.
As we must face actual tax reform in the near future, the symposium was organizedunder the title of'Tax Reform'. It was divided into two parts.
Part I was held under chairmanship of Kazuo HIGO (Meikai University). Someinteresting issues were reported and discussed by Biromitsu ISHI (Hitotsubashi
University) and Toru HASHIMOTO (Kwansei Gakuin University), under the themeof'The Basic Viewpoints on Direct Taxation' .
To begin with, ISHI mentioned problems concerning direct taxation in a tax
reform.
Then he examined an income tax reform from the viewpoints as follows:
The merits and demerits of flattening tax rates.
The problems regarding correction of inequitable taxation system.
The debate concerning an income tax vs. an expenditure tax.
Finally, he examined a corporate income tax reform and an inheritance tax reform.
HASHIMOTO investigated an income tax, a tax on wealth and a corporate income
tax from his standpoints. A lively discussion followed.
Part II was held with Makoto TAKAHASHI (Hosei University) in the chair under- 43 -

the title'The Basic Viewpoints on Indirect Taxation'.
As there was a possibility of introducing a new consumption tax next fiscal year
many members had deep interests in this theme.
Three panelists reported.
Keimei KAIZUKA (The University of Tokyo) mentioned a tax reform and an
indirect taxation.
First he surveyed the reasons for introducing a new consumption tax. Then he
examined the arguments against such a tax. Finally, he gave his own view of a new
consumption tax.
Next Masaaki HONMA (Osaka University) introduced a paper under the title of"tax reform and likely problems".
He examined a tax reform that might be carried out under Prime Minister
Takeshita leadership from varied angles.
Yatsuka WADA (St. Paul's University) reported on three matters, the situation ofindirect taxation, two types of consumption tax and a consumption tax examined fromthe standpoints of equity, tax revenue.
All the discussions during the conference were well attended and proved highly
beneficial to lively and appreciative audiences. The 46th meeting will be held at
Kagawa University on October 14 and 15 in 1989.
(Satoshi USHIMARU)- 44 -JAPAN ACADEMY FOR FOREIGN TRADE (JAFT)

The 28th annual general meeting was held at Kumamoto College of Commerce(Kumamoto City) on May 14 and 15 1988. The common theme was "Open Market

Problems and Trade Management — Concern with Deregulation" and with an
Enlarging Domestic Demand.
Yoshio SAITOH (Chuo Gakuin University) emphasized that "Japan has to enlarge
domestic demand and prepare for the open market" by the deregulation of trade.
Masanori MORIOKA (C. Itoh & Co., Ltd.) reported on "Enterprise strategy ofGeneral Trading Companies for the structural arrangement in World trade". Katsumi
SHIMADA (Kyoto Gakuen University) discussed "The Open Market and Arranging
Systems of Japanese Enterprises". Masao OINOH (Seinan Gakuin University)
examined "Some Points on Present Open Market Problems".
On the Free Themes;
Mutsuo YAMASHITA (Yahata University) examined "Japan-China Commercial
Trade-Claims and Counter-Claims". Hideo UENO (Kinki University) looked at "SomeProblems in Japan-China Trade — The Export Production System and the Open
Market". He emphasized that to encourage Japan-China Commercial Trade Japan
must seriously consider steps for increasing imports of Chinese goods.
Yoshihiko IKEDA (Bunkyo Women's Junior College) presented a paper on "Thecountry of origin image of industrial goods and its impact upon procurement behavior".
Through his survey by questionnaire, he has found that the country of origin image has
little thing to do with the procurement behavior, even though the amount of oversea's
procurement depends on the two factors; The expected margin of profit and themagnitude of business risks the procurement manager recognises. He tried to explain
the international brand strategy in off-shore production. Takeshi FUJISAWA (Kwansei
Gakuin University) reported "The Structure and Evolution of Global Logistics".
Kenji AKIYAMA (Aichi University) reported "The Trade Policies of U.S.A. —concern with the fair trade — ". What is fair or unfair? He tried to make up a definitionof "Fair Trade". Tohko HAN (Sonkinkan University, Korea) reported "Some Studies
of Fixture of F.O.B. (Free On Board) and I (Insurance)". He studied F.O.B. and I, as
new trade terms.
Tsuyoshi KOIZUMI (Hyogo Women's Junior College) discussed "The Changing
Pattern of Japan's Foreign Direct Investment in Asian LDCs (Less Developed
Countries). Yoshiaki YANAGIDA (Hiroshima Shudo University) examined "TheInternational Comparison of Labour Productivity between Japan and Korea".
Takao MUKOH·(University of Marketing and Distribution Sciences) explained"Certain

ChangesinInternational

Contracts

Involving

Japanese

High-Tech

Manufacturers'. He emphasized the spectacular technological advances made by
Japanese industries in the past decade, and observed that these have caused certain
noteworthy changes in the way in which technology and high-teck products are- 45 -

imported/exported by Japanese manufacturers. Takeshi HAYASHI (Fukuoka
University) reported "Reverse Technological Transfer Strategies Inter-Enterprises andBalance of Technologies of United States' Multinational Enterprises". Tadao
KAWAMOTO (Shimonoseki City College) reported "Shimonoseki (JAPAN)-Pusan(Korea) Trade in 1980' decade".-Mainly Shimonoseki-Pusan Ferry Container Trade
Under $U.S. Devaluation —-.

Araki MATSUMOTO (Takasaki City College of Economics) reported on"Australian Import Enterprises Under the Australian Dollar Devaluation, and It's
Impact and Problems for the Manufacturing Industries". Takeshi DAITOHWA(Nippon Bunri University) claimed that "Multi-National Bank's action is more effective
for the liberalization of international monetary market. He investigated The Electric
Theory of Mr. Daning for Service Business such as international banking. Yasushi
NAKAMURA (Kyushu Kyoritsu College) looked at "The Present Situation ofCommodity Exchanges in Great Britain and the United States of America". Masamichi
CHIYOURA (Dokkyo University) explained "The Structural Arrangement Loans ofWorld Bank. ー It's Theory and Present Conditions — ". Kenji YAMADA (Gifu
College of Economics) spoke on "Japan's Fundamental Doctrine of Ocean Policy". Heemphasized that we need to consider both the global and Japan's national system on
ocean policy outside the 200 nautical miles limit. Akira KINOSHITA (Kinki
University) reported "An Essay on the Concepts governing Sohgoh Shosha (General
Trading Co.)". Is Sohgoh Shosha a symbol of the Japanese economy?
Members of the Academy (which has a total membership of 300) all enjoyed the
cut and thrust of debate at these meetings. The 1989 general meeting will be held at
Nagoya University of Economic and Business Administration (Nagoya City) on May 13
and 14 1989.
(Misaki IWAMOTO)- 46 -

THE JAPANESE SOCIETY OF INSURANCE SCIENCE

The 1988 general meeting of the Japanese Society of Insurance Science was held on
October 22 and 23 at Meiji University, Tokyo. As elsewhere the insurance business inJapan is also going through a historical change.
Professor Yasuichiro KURASAWA (Keio University), organizer of this symposium
on'the Law and the Insurrance Business'suggested the need to amend the insurance
control law. He believed that the following points should be considered, (1) a change ofnational policy toward insurance business (It was changed from the protection andpromotion of insurance business to those of consumers almos.t twenty years ago), (2)the acquisition of substantial ability of consumers as the parties concerned overinsurance contracts, (3) the rise of quasi-insurance, and (4) internationalization,
informalization, liberalization, and aging of society.
The panelists developed different points of view. Associate Professor Kichie
YOSHIKAWA (Osaka City University) explained 'how the insurance business andsimilar insurance should be,''how to capture the function of insurance business,'and'how to grasp the insurance system under the globalization of money market,'when theliberalization and internationalization of money market are progressing.
Professor Takeshi YAMASHITA (Hiroshima University) discussed what thenational supervision to insurance business ought to be on "Doing and Regulating of the
Insurance Business."
Finally, Professor Kenjiro EGASHIRA (the University of Tokyo) emphasized thestrict regulation of the current insurance control law and the necessity for any revisionaccording to the environmental change of insurance companies from the view point of"Finance and Accounting of Insurance Companies."
Although the question-and-answer session was very animated and many opinion
were expressed, no conclusion was reached. But see The Journal of Insurance Science,
No.524 (March 1989).
We regret to announce that Doctor Rhyoichi OBAYASHI passed away on October
17, 1988. He was an honorary member of the Japanese Society of Insurance Science.
The 1989 general meeting will be held on October 21 and 22 at Kagawa University.
(Takatada IMAIZUMI)- 47 -

THE JAPAN SOCIETY OF INTERNATIONAL ECONOMICS

The forty-seventh annual meeting of the Japan Society of International Economics
was held at Doshisha University, Kyoto, on October 15 and 16, 1988. Thirty-threepapers were presented in eleven sessions. There was one panel discussion.
The theme of the discussion was "The World Economy: Current Situation and
Future Outlook," and four papers were presented. In his paper titled "Two Stock
Market Crashes and the World Economy" Tetsuo ANPO (The University of Tokyo)
analyzed the similarities and differences of the two stock market crashes: one in 1929
and the other in 1987. He concluded that the damaging effect of the stock market crashin 1987 appeared to be much less serious than the previous one, but he also noted thatit has to be recognized that the contemporary capitalistic economy does not haveadequate self-adjusting mechanisms. Presenting a paper entitled "The Consequences of
the Deterioration of the U.S. Balance of Payments Situation". Buntaro TOMIZUKA(Tokyo University of Economics) examined the causal factors. He believed that theseeds of the deterioration started immediately after W WII, partly because it has been
the U.S. policy and philosophy to force the rest of the world to accept the U.S. dollar
as the world currency. Although "benign neglect" by the U.S. destabilized theinternational financial system, this policy did provide an impetus to economic recovery
and subsequent growth for Western Europe, Japan and the Asian Newly Industrializing
Economies.
The third paper presented at the panel discussion was that of Jun NISHIKAWA(Waseda University) on, "Conditions for Maintaining Economic Growth for NIEs and
New NIEs". NISHIKAWA explored the conditions necessary in order for the NIEs andnew NIEs to maintain their economic growth. Four conditions were identified. The firstis to shift sales orientation of their output from overseas market to domestic market.
The second is to maintain a flow of technology and financial services from theadvanced countries to the NIEs and then to the new NIEs. The third is to secure askilled work force with high standards of work ethics. The last condition is to increase
economic cooperation among the developing countries. In the paper titled"Contemporary World Economy and the East-West Relations" Tetsuzo TERAMURA(Chubu University) examined the following three issues: the economic factors that led
to the arms reduction negotiations between the U.S. and U.S.S.R., current economic
developments under detente, and the likely impact of detente on the world economy.
After identifying expansion of military expenditure to an unsustainable level andunfavorable economic performance by these two countries as the major causes forpursuing arms reduction negotiations, TERAMURA believed that the two economies
would move toward convergence through alleviating structural economic imbalances.
Three other papers with an similar interest were "A Comparison of the World
Depression in the late 1920s and the Present Economic Situation" by Hiroyuki
IMADA (Bank of Japan), "FUGI Global Model and World Economic Outlook" by- 48 -

Akira OHNISHI (Soka University), "Key Currency System and Instability inInternational Credibility" by Akira HATTORI (Fukuoka University).
Reflecting the increasing importance of foreign direct investment (FDI) in theworld economy and especially in the Japanese economy in recent years , three sessions
were organized on the topic of FDI and its related issues . The nine papers were
"International Division of Labor in Asia: The Case of Automobile Industry" by
Tadahiro TAKENO (Tokyo University of Economics), "Japanese Multinationals andTheir Logistics: The Case of Electric and Electronics Industry" by Yoshihiro OHISHI(Saga

University),"Multinationals

and

Tax

Haven

Banking"byMasahide

NAKAMURA (Hannan University), "A Trend of Japan's Direct Foreign Investment
in Taiwan" Takeshi KOIZUMI (Hyogo Women's Junior College), "On the Catch-Up
Process of Developing Countries: A Role of Foreign Direct Investment andTechnology in the Development of Synthetic Fiber Industry in Korea" by Van Tho
TRAN (Japan Economic Research Center), "A Role of Foreign Direct Investment by
Asian NIEs in Industrialization of South-East Asian Countries" by Koji TANIGUCHI(Institute of Developing Economies). "A Note on Technology Transfer" by Tadashi
OKANOUCHI (Hosei University), "International Processing Arrangement andForeign Direct Investment Frictions" by Keiichi UMADA (Kyorin University),"Industry Adjustment and Internalization Theory" by Masayuki HARA (Osaka
University).
Recognizing its importance for the worldwide economy, two papers addressed theissue of foreign debt by the developing countries: "Foreign Debt Crisis and Debt Relief
Proposition" by Yuji TAKAKANE (Asahikawa University), "Economic Crisis in Latin
America and Foreign Direct Investment" by Yoshio MARUTANI (Institute ofDeveloping Economies). Other interesting papers included Shigenobu YAMAMOTO(Kansai University) on "An Economic Analysis of the Labor Market Liberalization",
Seiichi NAKAJO (Osaka City University) on "Foreign Exchange Risk Management ofExport Firms in the Period of Yen Appreciation". These papers investigated issues ofgrowing importance in the rapidly internationalizing Japanese economy.
(Shujiro URATA)- 49

THE JAPAN SOCIETY OF MONETARY ECONOMICS

The 1988 bi-annual meetings of the Japan Society of Monetary Economics were
held at the University of Tokyo on June and Tohoku University on October.
The first meeting of the society in spring was held at the University of Tokyo on
June 4 and 5. After the presidential address was by Ryuichiro TACHI (The Universityof Tokyo) at the beginning of the meeting, nineteen papers were presented in six
sessions. In the last session chaired by Keimei KAIZUKA (The University of Tokyo),we had lively panel discussions on "globalization of the financial transactions and its
effect on the stabilization of financial markets in Japan".
The first speaker in the panel discussion, Yohiko OKUMURA (Nomura Economic
Research Institute) defined the term globalization of financial transactions as the
economic tendency of a country, including integrated financial markets in the domestic
and the global network, for its financial informations to be promoted by acomputerized payment system. The development of financial transactions world-wide
may induce new economic problems for the markets, including an enlargement offinancial availability for borrowers with increased funds and increasings of burden ofdebts (or risks) from their dealings by financial institutions. He pointed out that recent
globalization of financial transactions in Japan did affect the stability of the financial
system in our country. Because of this financial institutions in Japan must behave more
efficiently in the markets.
The second speaker, Kichiji ORITANI (Bank of Japan) reviewed the recent
globalization of financial transactions in Japan as a supra national phenomena(disregarding the domestic financial markets) which has its repercussions in thepayment system for financial transactions. With world-wide interest comes thelikelihood of increased risks for financial dealings. To avoid these risks there are two
reasonable policies, one is to change the behavior of financial institutions to takeaccount of globalization of financial transactions, and the other is to engineer a shift in
the policy of the Bank of Japan to make it act not only for domestic finances but also as
an international center. With such a new function the Bank of Japan may be more able
to react to financial transactions of both at home and overseas. If the Bank of Japan
does become accessible as an international center it would still retain the function oflender of last resort in the domestic market. Its new function will help to improve theso-called country-risks in the developing countries.
Masao SUZAKI (Bank of Tokyo) emphasized the international aspect of
globalization of financial transactions in Japan and other countries. He wishedespecially to re-examine the recent financial roles of International Monetary Fund withaccumulated sovereign credits. It is important for the Bank of Japan to change hermonetary policies in order to act flexibly in connection with financial activity ofInternational Monetary Fund.
The last speaker, Shoichi ROYAMA (Osaka University) considered the- 50 -

globalization of financial transactions in relation to the re-arrangement of theInternational Monetary system. He compared these with the structural changes in realworld economic transactions.
The second meeting in the fall was held at Tohoku University on October 29 and
30. In this meeting, we had the presidential address by Takeshiro KODERA (Kwansei
Gakuin University) and ninteen papers including some of pioneering research-work.
There was also a lively panel discussion by five members on "the risk-management of
the liberalization of financial transactions".
Yoshiaki KOYAMA (Ministry of Finance in Japan) led off the discussion by
pointing out that it might be time now to re-arrange our legal regulations on thefinancial system in Japan, by introducing more free mechanism in the markets. And, it
is important for the Bank of Japan to develop more efficient policies to cope with new
financial risks. Financial institutions themselves must reform themselves so that they
can handle Asset-Liability Management, move into computerization, and increase
their net capital asset ratio at the optimal level.
Kichiji ORITANI (Bank of Japan) did define financial risks as the opportunity
costs in financial transactions in the markets. He also emphasized the need to control
credit and interest-risks as well as risks to the system which had grown up from various
kind of market behaviours by financial institutions. He did anticipate that the Bank ofJapan would take account of the need to deal with these new risks.
Keikichi HONDA (Bank of Tokyo) pointed out that the de-regulation of theinterest rate in the markets have been prompted by the easing of some legal restrains
between the banks and the security companies. These de-regulations followed further
globalization of financial transactions. He emphasized the reform of the financial
system in Japan to enable financial risks in the markets to be handled more efficientely.
Nobuhiro SAITOH (Federation of the Security Companies and Dealers in Japan)
pointed out that new type of risks have been introduced into financial transactions by
the de-regulation of legal restrains between the financial and the security markets. It
was, he believed, very important for all financial institutions to control their risks
especially for forward transactions of financial assets in the future markets. He felt
strongly that the net capital asset ratio of each banks should be held at an optimal level.
The last speaker, Akiyoshi HORIUCHI (The University of Tokyo) discussed thetheory involved in controlling the new risks following de-regulation of legal restrains on
interest rates and other financial transactions. He pointed out that there are twodifferent policies for risk-management, one is to maintain net capital asset ratio at an
optimal level in each banks, and the other is a bank-deposit insurance policy (or apolicy for financial system-risks) by the Bank of Japan as the lender of last resort. The
bank-deposit insurance policy system would cost more than the policy to keep the net
capital asset ratio at the optimal level in each banks. This theoretical analysis suggested
that the most reasonable banking policy, in free markets, would be to find the optimallevel of the net capital asset ratio for each bank.
(Ryoji YAMADA)- 51 -

THE ACADEMIC ASSOCIATION FOR ORGANIZATIONAL SCIENCEThe Association held two national conventions as well as monthly seminars during
1988. As was previously reported, the Spring National Meeting was held June 11-12,
1988 at Musashi University.
The Fall National Convention was held October 22-23, 1988 at Hitotsubashi
University, Tokyo. The main theme of the meeting was "Entrepreneurship: Main
Motives of Organizational Creativity."
The following seven papers were presented at the meeting and, as the main eventof the meeting, a symposium was held.
(1) "Sequential Definition of Entrepreneurship" by Seiichiro Yonekura(Hitotsubashi University).
(2) "The Process of Autonomy and Movements in Inner-Living Type Religions"by Shigeru Nishiyama.
(3) "The Process of New Business Establishment and Entrepreneurial Functions"by Eiji Ogawa (Nagoya University).
(4) "Entrepreneurship in Middle Size Corporations" by Shuichiro Nakamura(Senshu University).
(5) "Entrepreneurship in Business History" by Keiichiro Nakagawa (Aoyama
Gakuin University)(6) "The Conditions of Entrepreneurial Behavior in Retail Corporations" by Junzo
Ishii.
(7) "Organization Theories of Information and Knowledge Creation-The
Organizational Process of Innovation" by Ikujiro Nonaka (Hitotsubashi
University).
Professor Nakagawa and Professor Yonekura discussed the meanings anddefinitions of entrepreneurship from the theoretical and historical viewpoints. Professor
Nakamura and Professor Ogawa reported on entrepreneurship in innovative
corporations. Professor Ogawa also surveyed entrepreneurial functions in newly
established corporations and explained the new creative process.
An interesting report on the innovative process was given by Mr. Nonaka. Heemphasized the importance of the functions of information and the self-organization
processes to make an organization innovative. Information has two aspects: syntax
information and semantics information. To be innovative, it is important to use not
only syntax information, but also semantics information.
For the self-organization principles to work effectively, the organization must havetechnology, yuragi (chaos), autonomy, redundancy, and so on. Mr. Nonaka pointed out
the importance of the functions of top and middle management in being innovative
through self-organization and information. Mr. Nonaka tried to form a new theory of
the organizational innovative process.
Professor ltami chaired the symposium, in which Professor Mito (St. Paul's- 52 -

University), Professor Imai (Hitotsubashi University), Mr. Ushioda (President, Toyo
Sasshi Co.), and Mr. Uenohara (Vice-President, Nippon Electric Co.) contributed theirthoughts and ideas about entrepreneurship in Japan.
Mr. Ushioda stated that the objective of management is to strengthen employees'
abilities through management's activities. In order to increase its employees'success,management needs support systems (such as computer and accounting systems) and arational, objective evaluation system. Toyo Sasshi has encouraged employee
entrepreneurship by setting up a subsidiary company to handle new business.
Professor Mito pointed out that Japanese entrepreneurship started with the
Zaibatsu captains of industry, who combined the capitalist business system with ie (theJapanese family system). This ie system was later united with modern management
systems to bring forth the so-called Japanese management system.
Professor Imai insisted that innovation had to be a dynamic process. He further
emphasized the importance of entrepreneur functions —instead of price mechanisms —to coordinate economic activities.
Mr. Uenohara stated that top management's innovative function is to give
employees the creative dreams for the future. In his view, the present age is one ofcollective — rather than individual ー originality.
After a vigorous discussion, the following conclusions emerged:(1) One of the entrepreneur's important functions is to enhance employees'
potential abilities and give them dreams.
(2) Innovative process (entrepreneurship) is a dynamic process.
(3) The essential element in entrepreneurship is information.
(4) The age of individual innovation has passed, and the age of collective
innovation has arrived. So-called Japanese management systems are well suited
to this collective innovation.
The Association published four issues of Organizational Science during the 198788 academic year. Specific themes were: Leadership, Organizing in Contemporary,

Organization on Products, and the Organization of Local Government.

The 1987 Association for Organizational Science Award (the Takamiya Award)

was presented to Takatoshi Imada (Tokyo Institute of Technology) for his book, Self
Organization — Restoration of Social Theory (Sobunsha Publishing Co., 1986).

(Toshia KIKUCHI, Satoru TAKAYANAGI)- 53 -JAPAN SOCIETY FOR PERSONNEL AND LABOUR RESEARCHThe Japan Society for Personnel and Labour Research held its eighteenth annual
meeting on May 20-21, 1988 at Keio University. The common topic of the meetingwas "Improvement of Working Life and Japanese Corporations." Seven papers dealing
with the common topic were presented; the remaining twelve were on subjects chosen
by their authors.
At the time of the meeting the Japanese economy was undergoing a burst of rapid
growth fueled by the enlargement of the domestic market. Business was also in good
shape. The level of working life, however, was so far behind that workers were far fromsatisfied with their daily lives. Working hours were still long, and commuting hours
were getting longer. New technology and changes in industrial structure had greatly
influenced work systems. On the other hand, workers showed more and moredissatisfaction with their nenko-emunerating system. What could we do at this stage toimprove the working lives of corporate workers?
The special guest speaker, Mr. Mitsuharu Warashina, Vice-President of Rengo, thenewly organized trade union amalgamation, gave an enlightening talk, titled "From a
Wage Level as High as Advanced Western Countries to a Living Level as High as
Advanced Western Countries," which helped explain the aim of the common topic
clearly to the participants. The Nihon Management Association also announced its
views concerning "Realization of Rich Lives in Japan" in 1988. It pointed to higher real
wages by the lowering of consumer prices. And the national government set"Realization of a Life Full of Riches for the People" as its goal in its new five-year
economic plan. Furthermore, opposition parties campaigned with slogans like "TheAdvanced-Life Country," and "From a Great Economy to a Great Life."
We can now consider "Totally Rich Lives" to be our social consensus. Professor
Yoshitaka Fujita proposed consideration of the five stages of desire given by A. H.
Maslow: subsistence, safety, esteem, respect, and self-actualization. In the first andsecond stages, real wages and working hours are important to satisfy the material needsof the workers. In order to reach the last three stages, which deal with psychic needs,
he emphasized liberty, eq叫ity, equity and participation in human relationships,
personnel treatment, training and industrial relations. The quality of working life
should be the new task.
Along with Professor Fujita, Professor Hiromasa Suzuki proposed shortening
working hours and making them more flexible, following the European experience.
Japanese working lives are strongly controlled by long and rigid working hours. Mr.
Minoru Ito pointed out some of the rapid changes in the work system of the retail tradeindustry: computerization, contracting-out, and a flexible shift system. These havehelped make working hours better suited to the workers.
An exciting debate on working hours developed in the course of the symposium.
Professor Hiroki Sato and some of the participants raised the question of whether- 54 -

shorter working hours were always desirable. Professor Fujita and many others took
the traditional view that shorter working hours are better. Professor Sato suggested
another view: Since workers have different needs regarding income, hours, jobs, etc.,
some are satisfied with working long hours and others are not. Such diversification has
become a strategic factor in the field of personnel management today. This being thecase, more attention should be paid to differentials, rather than to equality. Professor
Sato and others, relatively young sociologists, therefore concluded that the problem
was not long working hours, but the one-pattern way of thinking about the working lifethat is predominant in various areas of Japanese business.
(Yoko SANO)- 55 -JAPAN ASSOCIATION FOR PLANNING ADMINISTRATIONThis Association, established in 1977, functions as a multi-disciplinary forum open
to academic researchers, government administrators and business managers who sharethe central objective of strengthening the scientific basis for an integrated treatment ofplanning (science and ideology) and administration (organization and technology).
The 11th Convention was held at Matsuyama Commercial University on October
22-23 1988. Its central theme was "Business and Local Government".
The present age is called "Age of Local Management", where a high standard ofmanagement efficiency is demanded. Under these circumstances, there are problems of
how self-governing bodies will deal with privatized Nippon Telegraph and Telephone
Corporation (NTT) or Japanese Railways (JR) which were once government
enterprises. How will it rebuild its relations with those companies?
The symposium on "the local government and the public corporations" chaired by
Hisao ONOE (Osaka Sangyo University) focused on these problems. In the othersymposium on "Diplomacy of Self-Governing Bodies and the Business Activities ofPrivate Companies" chaired by Sadaichi IIJIMA (Japan Location Center) the following
topics were discussed.
Many of the large companies developed from local companies into international
companies. What kind of impact did the internationalization of these businesses haveon the local districts?
On the other hand, many self-governing bodies set up their offices in Tokyo or
foreign countries independently or in common with the Chamber of Commerce andIndustry to perform a variety of functions including the supply of information, thepromotion of the products, sight-seeing in the district, the market extension ofbusiness, and business opportunities. In addition, many of bodies had practiced local
diplomacy through a sister city affiliation or friendship with foreign cities. What was
the connection between the self-governing body and the business company in thepresent age? These were chief subjects.
The research report section on "Local Identity of Self-Governing Bodies andBusiness Companies", chaired by Yoshiaki SADAI (Tokushima University), discussed
the following. The relations between self-governing bodies such as companies locatedin the prefecture and those in city, town, or villages should be examined. The locationof new industry promoted new economic growth and provided new jobs. The newadministration, interested in legal domiciles, should be built up to support the
movement for hometowns. The abilities of those Japanese living abroad and people
transferred to overseas service should be considered. Was the academic society inJapan too inward looking? Leading companies in Japan set up their research
institutions for basic researchs in foreign countries.
We understand that 54 foreign colleges hope to establish branches in Japan. Someof the self-governing bodies extend invitations to those colleges (the example of South- 56 -

Illinois University with a branch in Niigata Prefecture was given). How should we deal
with these situations? There were four papers in this section. "Local initiatives inseeking to benefit from Integrated Research Development Facilities," by Hotoshi
SASAO (Nihon University). "Residents Participation in Town planning andBuilding-Case Study of Town Associations in 3-4 Chome, Kitazawa, Setagaya-ku" by
Yukihiko HARASHINA & Fumihiko NOGUCHI (Tokyo Institute of Technology)"Resort Develppment in Tokushima Prefecture" by Hiroyuki OHNO (Tokushima
Prefecture)"The Technopolis Development Project in Ehime Prefecture" by Naomitsu
YOSHINOUCHI (Ehime Prefecture)
A discussion on Shikoku after the bridge was led by Hiroshi KATO (Keio
University).
The Seto-Oohashi Bridge, completed in April 1988, gave direct road and rail links
between Shikoku and Honshu.
Under the heading of Research Section, the chairman Yoshinobu KUMATA(Tokyo Institute of Technology), discussed the following papers,"Deviation in the Medical and Dentistry Departments" by Hiroshi ICHIKAWA(University of Tsukuba)"Man Power and Social Security in the future in Japan" by Naomi IKEGAMI (Keio
University)"A Search for Comprehensive Countermeasures against Obstinate Diseases" by Saburo
NISHI (Tokyo Metropolitan University)
The 12th annual convention is scheduled to be held at Tsu November 11-12 1989.
The main theme will be "Private and Public Sectors affected as at State and Local
Level".
(Takehiko MUSASHI)- 57 -JAPAN SOCIETY OF POLITICAL ECONOMY

The 36th annual convention of Japan Society of Political Economy was held at
Waseda University on 8th and 9th October, 1988. At the general assembly, the keynote
subject was "Basic Features of Contemporary World Economic .Crisis", threepresentations were given by Shumei OUCHI (Tohoku University), Minoru
SEKISHITA (Ritsumeikan University) and Ikuya FUKAMACHI (Kyushu University).
These were followed by heated discussion initiated by two commentators Yoshihiro
TAKASUGA (Hitotsubashi University) and Yoshikazu MIYAZAKI (Tokyo College of
Economics).
OUCHI, was reluctant to use the word as "crisis" to express present world
economy, represented it as at an obvious "turning point". He realized this "turning
point" particularly in the process of the world economy from adoption of floatingexchange rate system in the beginning of 70s until "black monday" of 87. Symptomaticof the turning point, is the dramatic deterioration of America's status in the world
economy. America does suffer from twin deficits — or triplet deficits in a sense — and soaccumulates huge liabilities. As to the direction of the turn, OUCHI suggested three
ways forward. One is an expansion of protectionism, another is a move toward regional
sectionalization and the third is to change from a dollar currency system to plural
currency system. Something must be done, since any early solution to the American
twin deficits looks highly unlikely. Recent moves of the EC and the free trade
agreement between the US and Canada suggests a move of the world economy in theright direction: It is possible that Japan will be included into American block, but moreprobably she will "stand alone" in the world economy. SEKISHITA analysed present
world economy especially viewing it from the production side. The so-called "PaxAmericana" has been principally based on American prominence in high-techindustries developed by munition-initiated R&D activity under the sponsorship of the
US government. From another viewpoint, he contended that there has grown up a sortof stable division of industry between the US and other advanced countries, the US
specializing in high tech industry while other countries remained involved in traditional
heavy industry . The stability, however, has become to be undermined by thedevelopment of a "cancer cell" ー Japan. As is well known, Japan first tried to establish
her. economy by "exporting manufactured goods", a strategy supported by importing
American technical know-how. But too much Japanese success has threatened the USeven extending to their high tech industry. Because of Japanese competition the US
has been forced to transplant their high tech parts fabrication factories offshore to savethe costs of assemblied products. This has produced the very large trade deficits. Thereis no clear sign yet of a solution to this problem although an official report, The Youngreport in 1985, considered the question of the deterioration of the US industrial
competitiveness.
The essence of FUKAMACHI's presentation was to examine the monetary- 58 -

implications of the present world economic crisis.

He focused on the huge

disequilibrium between excessive currency and real economy. Although the issue of
disequilibrium between currency capital and real capital was originally raised by Marx,
FUKAMACHI appreciated the limits of Marx's classical arguments for Marx did notknow and could not foretell either "managed currency " or the globalization of theeconomy. He believed the present problems in the US, had their origins in the way thatvarious kinds of debts had increased at a far faster pace than growth rate of GNP. In
fact either of government liabilities, individual liability or private enterprise's liability
have already exceeded half of annual GNP in the US. And these accumulation of debts
have naturally resulted in an amazing upsurge of various fictitious capital as treasury
bonds, securitized bank loans or even such as junk bonds. According to
FUKAMACHI, this explosive increase of American currency capital is now beingtransmitted to other advanced countries through cooperation based on such as "Plaza
Agreement" or "Louvre Agreement", causing serious unstability in the world economy.
Actually Japan increased her money supply at more than 10% ratio in 1987 through thepurchase of dollars by the Bank of Japan, when she increased GNP at 4% ratio.
In addition to the general assembly, there were three further presentations on "TheCapital", contemporary capitalism and present financial crisis — as well as three
sessions with subject chosen by the participants. In total, 15 presentations were given
under this head.
(Kenji TOMINOMORI)

- 59

27

THE POPULATION ASSOCIATION OF JAPANThe Population Association of Japan was founded in 1948 with the aim ofencouraging multi-disciplinary study of demographic phenomena. The Association
holds a general meeting and publishes "Jinkougaku Kenkyu" (The Journal of
Population Studies) annually. The latest issue of the Journal was Number 12 publishedin May 1989.
The 40th Annual Meeting was held at Nihon University in Tokyo under thechairmanship of Professor Hiroshi Kawabe from June 3 to 5 in 1988. The program
included a symposium, two special sessions and general sessions.
The symposium entitled "On Declining Fertility in Advanced Countries" wasorganized by Yoichi OKAZAKI (Nihon University). Makoto ATOH (Institute ofPopulation Problems) reported on the trend of fertility in Japan and explained that the
decline of Japanese total fertility rate since 1973 was due to the postponement ofmarriage and to a slight decline in marital fertility. He also pointed out that there weresome similarities but also some differences between fertility decline in Japan and thatin western countries. Minoru OKADA (Chuo University) reported that fertility inseveral western countries started to decline in 1965. By 1985 this was less than the level
required to replace the population although there are marked differences in the rates offertility in the western countries. He suggested that such differences might be explainedby the varied economical, social, cultural and institutional circumstances in eachcountry. He also reviewed the views of scholars on the recent fertility decline inwestern countries and pointed out that governments of western countries werereluctant to take pronatalistic measures to reverse this phenomenon because there wasno clear indication of the real causes of fertility decline. They also understood that
there would be bitter protests at any suggestion of intervening in the privacy of
individuals. Shigemi KONO (Institute of Population Problems) explained recent
fertility decline and current low fertility in the United States, Australia and New
Zealand and suggested significant influential factors such as changes in marriage
pattern, the contraceptive revolution, the increase of working women, and the changeof value from a child-oriented to adult-oriented society. He also mentioned that theincreasing social activity of women, generally considered as one of the most significant
factors for fertility decline in advanced countries in Europe and America, might
continue as long as the idea of equal opportunity for both sexes was an irreversible
historical trend. Finally Toshio IRITANI (Tokai University) reviewed trends of fertility
in the Soviet Union and other Eastern European countries since the time before theWorld War II to 1980's and explained that fertility in these countries had shown
fluctuations following state intervention through pronatalistic policy measures. For
these reports Hiroshi OHBUCHI (Chuo University) and Yoshihiro TSUBOUCHI(Kyoto University) made comments as discussants.
A Special Session(A) entitled "Are we facing an age of High Level- 60

Unemployment?" was organized by Hiroyuki KANEKIYO (Meiji University). Yosio
YOSHIDA (Asahi University) reported that the job-research theory and the mismatchtheory were considered significant in recent years in explaining the concentration ofunemployment in specific groups of population. Yasunobu TOMITA (University ofOsaka Prefecture) reported that the American concept of unemployment was abroader one, concerning underutilization of the labor force, while the Japanese concept
was a narrow one restricted to persons who did not work and actively sought for a job.
Such differences in concepts inevitably lead to big differences in the amount of
unemployment recorded in each country. Asao MIZUNO (Chuo University) reported,
as a result of demographic analysis of recent unemployment figures in Japan, that theincrease of unemployment in the female labor force followed the large numbers of
women, hitherto not in gainful employment, seeking to enter the labor market. He also
noted that the pattern of age-specific unemployment was mainly determined by
employment structure as well as by the amount of human capital available. In future
the number of unemployed could increase with the changing age structure of the labor
force. For these three reports, Hirosi OHBUCHI (Chuo University), Tomoko
FURUGORI (Meikai University) and Yoshio HIGUCHI (Keio University) madecomments as discussants.
Special Session (B) entitled "Regional Policy and Population Distribution" wasorganized by Hidehiko HAMA (Seijo University). Hiroshi KAWABE (Nihon
University) pointed out that the four Comprehensive National Development Plans inJapan from 1962 to 1987 were intended as countermeasures for problems in population
distribution. Since the second plan, made in 1969, the major purpose was to solve
problems caused by an excessive concentration of population into urban areas. Atsushi
OTOMO (Utsunomiya University) reported results of comparisons between real
population distribution and calculated population distribution on the assumption thatthe trends of death, birth and migration in 1935-40 had continued in the postwar
years. He concluded that if the World War II had not taken place population
concentration into large urban areas and depopulation in rural areas could have beeneven more serious. Moriyuki OHE (Shimizu Corporation) reported that depopulationin the Sumida Ward in the City of Tokyo was due to a decrease of young factory
workers as the industrial structure in this area changed. This did not necessarily reflect
a declining vigor in the area. He suggested that policy makers for such area should pay
attention to new developments, including for example, change of occupation and anincrease in couples living together. Yuichi MINAKAWA (Chiba University) reported
the situation in the depopulation areas and pointed out that out-migration of young andmiddle age population still continued. He also noted that depopulation by excess ofdeaths over births would become more serious with an aging population, especiallywhen the large cohort born in 1920-35 retired from the labour force. Setsuo
OGASAWARA (Aichi University of Education), Shuei IMANO (Osaka Institute ofTechnology) and Shunji MAEDA (Hiroshima University) made comments as
discussants.
(Yoichi OKAZAKI)- 61 -

THE JAPAN SOCIETY OF PUBLIC UTILITY ECONOMICSThe Japan Society of Public Utility Economics was founded in 1949. The aim of
the Society is to foster studies and conduct investigations on public utilities frompolitical, economic and technical standpoints, and to improve the general conception of
public service, so as to induce a healthy development and thus contribute to publicwelfare.
The main activities of the Society are to publish The Journal of Public Utility
Economics, (three times a year) and to hold, in addition to several regional meetings,
an annual national conference. In this issue, activities of the regional sections are
introduced as special topics.
The Kanta and Kansai Sections were established in 1975. Kanto Section has 270
regular members and 40 institutional members. Kansai Section contains about 100
members. Each Section holds research meetings and study tours several times a year.
The subjects of research reports at first meetings of each Section were as follows.
[Kanto Section: November 6, 1975 at International Christian University]
Jun-ichi HAMADA (Meiji University) "The Origin of Public Utility Holding
Companies in the U.S.A.".
Sigehiko NAOE (Research Institute of Telecommunications and Economics)"Public Enterprise Finance and Rate".
Hideo HOSONO (Chuo University) "Party Politics and Public Utility Rate
Regulation".
[Kansai Section: June 26, 1975 at Chuo Denki Club, Osaka]
Tatsuo TAKENAKA (Kobe University) "Review of My Study on Public Utility
Economics and Management".
The activities of each Section in the 1988 activity year are as follows.
[Kanto Section in 1988]① research meeting: October 22, 1988 at Saisan Co. Ltd., Omiya
Toshio UEMURA (Asia University) "Reform of Public Sector and Effectivenessof Deregulation": Public sector tends to be inefficient because of the failure to develop
incentives. One of the main causes is, according to the study by H. Leibenstein, thatvarious types of X-inefficiency are permitted in carrying out noneconomic functions.
The purpose of this report is to analyze the problems of X-inefficiency in public sector,
using both descriptive and analytical approaches. The reporter emphasized the need toconstruct a more systematic framework in order to analyze the X-efficiency in public
sector.
Yasuo MATSU YUKI (Tokyo University of Agriculture and Technology)"Competitive Strategic Model for Japan Airways": This report evaluated the behaviorof the Japan Airways as a public utility in the airline industry. The analysis was done
through competitive strategic model built originally by the reporter.
Ken-ichi KOBAYASHI (Hokkai Gakuen College) "Formation of Tennessee Valley- 62 -

Authority and Its Two Objectives": This report attempted to clarify the aim of thefoundation of TVA. The reporter pointed out that both regional planning and public
ownership should be regarded as crucial when we reviewed the aim of the early TVA
projects.
Ichiro MATASHIRO (Senshu University) "Problems of Consumer Choice in
Public Utility Industries": The reporter developed his arguments on the consumer's
choice problems of'kan-i' gas industry in comparison with other public utility
industries. According to the reporter, customers of the public utilities are becoming
better informed as pro-sumers. It is important, therefore, for public utilities to establish
a new consumer-producer relationship and look intelligently at the information
environment.
② study tour: December 6, 1988
Japan Telecom Co. Ltd., Tokyo Center[Kansai Section in 1988]① research meeting: July 14, 1988 at Kanden Hall
Eijiro NAWATA (Kansei Gakuin University) "Public Utility Industries in theJapan-U.S. Security Treaty": Many of the main lessons of regulatory experience, bothin Japan and the U.S., are embodied in the consequences that have arisen from Public
Utility Institutions in both countries. It is very important, therefore, to grasp thecontents and meanings of the institutional differences in both Public Utilities. The
reporter examined two key terms: "public utilities" which is prescribed in the 7th
Article of the Agreement on the Status of the U.S. Army in Japan, and "koeki-jigyo"
which is defined in the 8th Article of the Labor Relations Law. This study postulates
not only examinations of the economic factors within the firm, industry and regulatory
agencies, but also such broad approaches as the historical, cultural and inter-relational
viewpoints to investigate the problem of public utilities and regulatory policy in bothcountries.
② study tour: October 14, 1988
Kokusai Denshin Denwa Co., Ltd., Tanimachi Building, OsakaG) research meeting: January 24, 1989 at Kanden Hall
Kanji TANIMO TO (Nara Sangyo University) "Social Control on the Corporate
Power".
Toyoji YAMAGUCHI (Amagasaki City Water Works) "Activities of Amagasaki
Water Works and Biwa Lake Development Project".
④ study tour, and research meeting: April 27, 1989 at Kyoto Research Park
Isao ENDO (Nishinomiya City Water Works) "Water Leaking Prevention
Measures at Nishinomiya City".
Hironori YAMADA and Akio WADA (Osaka Gas Co., Ltd.) "Diversification inCity Gas Industry".
(Shusaku YAMAYA)- 63 -

THE JAPAN SECTION OF THE REGIONAL SCIENCE ASSOCIATION

I. Domestic Conference
The 25th Annual Conference of the Japan Section of the Regional Science
Association was held at Toyohashi University of Technology in Toyohashi, Aichi, from
October 29 to 30, 1988. It was a pleasure to welcome our own members and notable
guest scholars from Europe and USA to celebrate our silver anniversary.
The main theme, with four reports, was "Technological Innovation and Cultural
Tradition in Regional Development", after which a panel discussion was held. The firstreporter, Noburo KAMINO (Gathering for the Development of Higashi-Mikawa
Region), talked on "Urbanization of the Higashi-Mikawa Region", referring to thelocation, history and present position of the area. He then explained the future long­range planning for the development of the region. The second reporter, Yoshio
MURATA (Deputy Mayor of the Toyohashi City), explained their development plan,
demonstrating that they were trying to promote the location of'research anddevelopment'facilities in their city. The third reporter, Mikihiro TAMURA (Oku­
Mikawa Vision Forum), reported on "Cultural Heritage in Regional Development".
He noted that the Oku-Mikawa region had long suffered from depopulation andexplained that they were trying to develop the region thinking in terms of their heritage
as a resource. The last reporter, Lay James GIBSON (University of Arizona, USA)
spoke on "The Importance of Tradition and Cultural Heritage in Regional Science andRegional Development". He examined some American experiences and noted theimportance of tradition and heritage to activate regional economies.
After the presentations listed above, Peter NIJKAMP (Free University
Netherlands), emphasized the necessity for socio-economic and cultural factors inregional innovation policies. Economic restructuring, technological changes and shifts
in socio-economic patterns had dramatically affected the spatial distribution of people,
firms and welfare. Rolf H. Funck (University of Karlsruhe, W. Germany) pointed outthat the Toyohashi City was geographically similar to Karlsruhe and the experience ofKarlsruhe could be applicable. Junjiro TAKAHASHI (Keio University), said that adomestic region was an integral part of an internationally wide region. He hoped thatan information-oriented society would not be confused with an advanced service
economy. He believed that industrialization could be nothing more than a hazard.
Yasuhiko OISHI (Rissho University), considering his own work on classic literature,emphasized the importance of cultural factors in regional development. Hirotada
KOHNO (University of Tsukuba), concluded that the diligence of entrepreneur was
not necessarily sufficient for the development of a region. A development program
called "lsson-Ippin Undo (One Speciality from One Local Village)" might require theopening up of new market.
The fruitful and constructive discussions among these four reporters, five panellists
and some questioners from the floor were greatly appreciated by all participants.

- 64 -

The four common themes for this conference were, "Location Theory", "Urban
Development", " Transportation" and "Public Goods". Four reports were given undereach theme. Besides this, four reports were read as free themes.
The characteristics of the Conference could be summed up as follows. Firstly,
several researches concentrated on Harold Hotelling's (1895-1973) spatial competition
theory. Masaki AOYA GI (The University of Tokyo) "Location Competition of
Retailersina

Two-Dimensional

FiniteMarket"extendedHotelling's

spatialcompetition model to a two-dimensional case and investigated the number of retailers,market boundaries in equilibrium. Hideaki OGAWA (Gifu National College ofTechnology) "Spatial Competition Approach to the Central Place T heory" enabled us
to know the location in equilibrium of n-firms which sold not only substitutes but
complements, which was derived from the endogenous demand of consumers.
Masamichi KAWANO (Teikyo University of Technology) "On the Relationshipbetween Roads and Population Distribution" reexamined Hotelling's oligopolisticcompetition theory under the assumption that residents could choose their location,
instead of the assumption of their uniform distribution.
Secondly, some reports were extentions of the authors' previous researches. Shogo
KAWAKAMI (Nagoya University), Yasuhiro HIROBATA (Toyohashi University ofTechnology), Young-Suk BAE and Hajime NAKAJIMA (Nagoya University) on "ADisaggregated Behavioral Model as Applied to the Analysis of Workers'One-Day Trip
Behavior". They extended their disaggregated behavioral model which was concernedwith the trip behavior of non-workers. These models would be the parts of the systemof trip demand estimation model they propose to develop. Toshitaka KATADA,
Yasuhiro HIROBATA, Yoshiro HIGANO (Toyohashi University of Technology) andNaojiro AOSHIMA (Gunma University) on "Analysis of Migration and Commuting
between Urban and Rural Areas: An Application of Simultaneous Choice Model of
Dwelling and Work Places" applied their model to explain the behavior of workers who
commuted from their residences in suburbs to the place of work in business districts incities.
Thirdly, the participants from foreign countries discussed on technologicalinnovation and regional economies both theoretically and empirically. Bernard BIZE T(Institut d'Amenagement et d'Urbanisme de la Region d'Ile-de-France) "Interaction of
the Telecommunications and Transportation Networks in the Location of Activities:
The Case of the Ile-de-France Region" developed some new principles of activity
localization involved in the vast program of transportation and telecommunications
infrastructures planned for the Ile-de-France region. He suggested an image of theevolution of this regional space. George G. van der MEULEN (Eindhoven Universityof Technology) on "Computer Aided Urban Planning, Management and Decision
making in Developing Countries" gave an adapted approach based on the land
information system. Rolf H. FUNCK and Jan S. KOWALSKI (University ofKarlsruhe) on " Technological Change and Its Impact on the Urban-Regional System",reviewed the scanty evidence available concerning the situation in the small andmedium sized cities in West Germany and considered future prospects. Peter- 65 -NIJKAMP (Free University) on, "The Role of the Metropolitan Milieu as an
Incubation Centre for Technological Innovations: A Dutch Case Study" described,
applying the logic analysis, the georgraphical patterns of types of innovations in the
Netherlands.
II. International Conference
The 11th Pacific Regional Science Conference, hosted by the Japan Section of theRegional Science Association, supported by the Standing Secretariat of the PacificRegional Science Conference Organization, will be held at Singapore from July 3 to 6,
1989.
III. Publication"Studies in Regional Science — The Papers and Proceedings of the Japan Section of
RSA-"(Chiikigaku Kenkyu), Vol.18 edited by Shogo KAWAKAMI (Nagoya
University, the Chairman of the 24th Annual Conference) was issued. It contains 12
research papers and 3 symposium issues.
(Hitoshi MITOMO)- 66 -

THE SOCIETY FOR THE ECONOMIC STUDIES OF SECU印TIESThe Society for the Economic Studies of Securities held its 29th national
conference on June 18-19, 1988 at Nihon University. Its 30th national conference washeld on October 22-23, 1988 at Kansai University. Ten local meetings, four in Kanto,
four in Kansai, and two in Kyushu, were also held during the year.
The common theme for the 29th national conference was "The Floating Rate
System of Foreign Exchange and Capital Markets". The following reports were
presented, "Fluctuations of Foreign Exchange Rate and Institutional Securities
Transactions" by Kenji HIRAMATSU (National Research Institute of Securities andEconomics, INC.), "New Development of International Holdings of U.S. Government
Bond" by Fumitake MATSUMURA (Osaka University of Economics), "Foreign
Investment by Japanese Life Insurance Companies" by Naohiko MOCHIZUKI (TheMeiji Mutual Life Insurance Company) and "International Capital Markets in 1980's —Development and Limitation of Internationalization" by Joji KOBAYASHI (Aoyama
Gakuin University).
HIRAMATSU pointed out that the impact of international capital transfer on
foreign exchange rate had increased, while that of trade balance had somewhat
decreased. He explained why yen-rate remained high notwithstanding the increase ofJapan's net investment in U.S. This was because much of the investment funds wasraised outside Japan.
MATSUMURA stated that in 1970's, U.S. Government raised funds by selling its
bonds mainly to foreign governments but that in 1980's, it sold its bonds to private
financial institutions in Japan and Asian NICS. He named the former "Dollar
Supporting Finance by Official Sector", and the latter "Dollar Supporting Finance by
Private Sector".
MOCHIZUKI talked about the feature of investment management by Japaneselife insurance companies, its past performance and its future prospects. He also
explained the means used by Japanese life insurance companies to avoid exchange raterisks which would invariably accompany foreign investment. KOBAYASHI analyzed
the realities and limitations of international capital transfer. We enjoyed a lively
discussion on these reports.
The main theme for the 30th national conference was "The Capital Market under
the Control of Institutional Investors". Four research reports were presented. They
were "The Life Insurance Company as an Institutional Investor" by Ken-ichi TADOH(Nippon Life Insurance Company), "Institutional Investors and Capital Markets" by
Yoshio IIHARA (Nanzan University), "Trust and Banking Companies as an
Institutional Investor" by Mikio ISHI-OHMARU (The Mitsubishi Trust and Banking
Corporation), and "Institutional Investors' Behavior and Innovations of CapitalMarkets" by Masahiko SUGIE (Doshisha University).
TADOH pointed out the size and dual character of the Japanese life insurance- 67 -

company (the SEIHO)一that is, as an institutional investor and as an absorber ofoutstanding shares. According to him, an economy which was supplied with funds
exclusively by institutional investors was "Institutionalized Capitalism".
IIHARA analyzed the influence of crossholding of shares by Japanese big
businesses on stock price formation, and emphasized the necessity for developing ananalytical model to explain the actual transaction process of shares in the market where
institutional investors played such big parts.
ISHI-OHMARU stated that trust and banking companies have acquired greater
importance in the capital market, since they began pension fund, specified money trust(TOKKIN) and fund trust businesses.
Lastly, SUGIE argued that the growth of institutional investors was related to thedevelopment of various financial innovations. He noted especially the relationshipbetween stock price index futures and portfolio management by institutional investors.
Again these study reports provoked critical opinions and vigorous discussion.
In addition, seven research reports in the 29th national conference and six in the
30th were presented respectively, and many other reports were also made at local
meetings held in various districts in 1988. The titles, names of the researchers andabstracts of the reports are all contained in the Annals of Society for the Economic
Studies of Securities, Vol.24.
The 31st national conference is planned for June 17-18, 1989 at St.Paul's
University. The common theme will be "The Internationalization of Capital Markets
and Corporate Finance Strategies".
The 32nd national conference should be held at Aichi Gakuin University in theautumn of 1989.
(Hidefumi TSUMURA)- 68

ASSOCIATION FOR THE STUDY IN SOCIALIST ECONOMIESThe Association aims to provide and expand opportunities for scholars concernedwith theoretical or empirical studies of socialist economies, including Soviet, East
European, Chinese, Vietnamese and Korean economies to exchange information. It
seeks to promote the advancement of knowledge by encouraging interdisciplinary andcomparative studies, within scientific disciplines in the field of socialist economics.
Current topics of interest are recent economic reforms, which are taking place inthe socialist economies, particularly the Soviet economic Perestroika (restructuring),
and their influence on the system of political economy of socialism and statisticalsystems.
As a result of the abandonment of economic reform in 1968 the Soviet Union faced
the prospect of low economic growth. It lacked the mechanisms required to redirect theeconomy to more intensive growth paths and to eliminate: shortages of goods. Scholarsof the Association have attempted fact-findings enquiries into the real economic growth
path of Soviet economy. In March of 1985, Gorbachev was named as the First
Secretary of CPSU. While consolidating his power over the next two years, Gorbachev,
continued in part, the policies developed under Andropov, i.e., on-going, large-scaleeconomic experiments and an anti-alcohol program. He also announced his intention toundertake the acceleration (Uskorenie) of modernization of Soviet industry,
particularly the machine building industry. At first glance it appeared that Gorbachev
had adopted a conservative approach toward economic reform, but in fact, during thisperiod he began to lay the foundation for the economic reform movement which hascome to be known as Perestroika. Members of the Association have conducted
research on the feasibility of the Uskorenie policy and Perestroika in the field of Soviet
economy.
Soviet mathematical economists, including Aganbegian, Petrakov, Belkin, andAnchishkin (who died in June of 1987), once again pressed for the economic reforms
they had advocated in the 1960's. Those who had recommended the development of amarket economy, and who had been subjected to severe criticism by neo-Stalinist
economists during the Brezhinev era, began to mount an active attack on the neo­
Stalinist political economy ("modernized political economy"), where market relations
are recognized as alien to planned economic development, as opposed to relations thatare already "communistic" and as capitalist "birthmarks" surviving under socialism.
Members of the Association are interested in the recent restructuring of political
economy of socialism.
Gorbachev's radical Perestroika plan was presented to the Central Committee
Plenum in June of 1987 and the new Soviet "Law on the State Enterprise" was adopted
by the Supreme Soviet at the same time. The reforms of the state sector include
development of autonomy for enterprises (socialist "commodity" producers), self­
financing (full profit-and-loss accounting), market relations, radical changes in the- 69 -

price and finance system, "self-management" and the introduction of the election ofmanagerial personnel. Scholars of the Association are interested in whether thesemeasures are similar to or go far beyond the reforms advocated in 1965.
In 1986 and 1987, approval was also given to allow the development of pluralism ineconomic mechanism, namely, the development of the non-state sectors, including
cooperative and individual labor activities, but excluding private economic activities.
The goal of convergence of multiple sectors to a single, monolithic state sector has been
rejected by the Soviet authorities. Scholars of the Association discussed the possibilitiesof development of the non-state sectors.
They are also interested in analyzing the two difficulties that Soviet economists arefacing. One is the "state [commercial] order system (goszakaz)," which Nemchinov
proposed more than 20 years ago and which has been implemented in place of"obligatory target figures" (command) under the Gorbachev reforms. The second is the
Uskorenie policy, drawn up by Aganbegian, and which was also implemented during
the first two years under the Gorbachev regime. According to some scholars of the
Association the large scale application of the "state [commercial] order system" caneasily be bypassed by the traditional centralized resource allocation system. The
Uskorenie policy stresses rapid growth, but is in actuality a deterrent to true economic
reformsince the Uskorenie policy and economic reform cannot take place

simultaneously. Also, the rush towards the modernization of industry may lead toquantitative growth only in the heavy industry sector with no parallel increase in the
production of consumption goods.
Members of the Association also study the problems of material-monetaryimbalance, acceleration of the inflationary process, revision of wholesale and retailprice systems and the sharply rising deficits which threaten the Soviet Perestroika.
Further, they attempt to clarify the possibilities of development of Soviet international
economic policy as a corollary of the Perestroika.
(Masaaki KUBONIWA)- 70 -

THE SOCIETY FOR THE STUDY OF SOCIAL POLICYThe Society for the Study of Social Policy aims to promote interdisciplinary studies
relating to labour issues and social conditions. Although most members are economists,
others are sociologists, jurists and historians.
The 76th national convention of the society was held at the Shin-Ishikawa Campusof Kokugakuin University, Yokohama, on May 21 and 22, 1988. The main theme was"Deindustrialization and Employment Problems." This was closely related to theprevailing conditions in the labour market. The dramatic rise of yen rates and radical
adjustments of industrial organization in 1986 and 1987 had caused serious employment
problems.
In the plenary session, there were five presentations. Masatoshi YORIMITSU(Hitotsubashi University) considered "a comparison of deindustrialization between the
United States and Japan." He tried to develop "a logic of deindustrialization"; hisargument largely depended on what was happening and discussions in the UnitedStates. Although he suggested some criteria of deindustrialization, the stagnation ofindustrial technology, which is composed of scientific research, production technology
and the know-ho"! of daily operations, seems to be crucial.
Yasuo KUWAHARA's (Dokkyo University) presentation was on "the impact ofJapan's foreign direct investment on employment" and he pointed out the diverse formsof direct investment and their different influences on employment in originating
countries. He tried to estimate negative employment effects in car industries in Japan,
in certain possible cases of transfer of production from Japan to North America.
Takeshi MIZUNO (Kyoto Gakuen University) reported on "deindustrializationand employment in Japan's small businesses." He reminded us that employment insmall businesses had fallen more rapidly than th;it in large firms. This was due to therecent rise of yen rates and the transfer of production to foreign countries. It should be
noted that working conditions, especially those of older workers, in small businesses
deteriorated.
The fourth presentation by Hiroki SATO (Hosei University) was on "employment
effects of software production in foreign countries." This was not directly concernedwith deindustrialization but he explained that the international division of labour insoftware production was possible by means of job contracting or as joint projects. In
Japan this was happening between Tokyo, where demand for software and the supplyof technical workers are concentrated, and more remote local areas.
In the fifth presentation on "deindustrialization and the regional labour market,"
Yasushige KIMURA (Hokkaido University) demonstrated, especially by using tables,
how severely two labour markets in Hokkaido were affected by the steady process ofdeindustrialization.
In the last plenary session, with Masumi TSUDA (Hitotsubashi University) in thechair, there was a general discussion. Members considered
concepts of- 71 -

deindustrialization, the behaviour of large enterprises which may undermine local
communities and the need to distinguish the causes of the transfer of employment.
In this convention five sub-sessions were held and eleven persons reported on
various subjects. The annals of the Society based on this convention was published (inJapanese) as Deindustrialization and Employment Problems, Tokyo, 1989.
The 77th national convention was held at Ritsumeikan University in Kyoto on
October 22 and 23, 1988. The common theme was "Labour Movements in the Periodof Transition." The organizing committee of the Kansai chapter of the Society had
asked eight reporters to discuss recent labour movements which are experiencing
substantial changes in various countries, taking the world history into consideration.
Hideo KOBAYASHI (Kansai University), introduced scholarly views on theinterpretation of the decline of organization rates by trade unions in the United States.
The reporter attributed the main cause of the decline to present circumstances.
Seiichiro HAYAKAWA (Hosei University) reminded us that new flexible trade union
attitudes were developing in British industrial relations. But he doubted whether these
innovations would supersede traditional practices. Takao SAITO (Gunma University)
reported on the recent policy changes of the CGIL of Italy, which, for instance, agreed
to cooperate with employers if employment was increased. Masayuki IBE (Fukushima
University) gave an overview of the deepening crisis of_ the social and institutional
system of apartheid in South Africa and explained, in this connection, major currentsof organized labour. Hideo KOBAYASHI (Komazawa University) argued that
Southeast Asian countries had succeeded in industrialization by the suppression of
trade unions and by the improvement of the quality of products.

Howeverindustrialization must co-operate with democracy and not deny it. Hi-shun TAKU
(Sung Kyun Kuan University of Korea) outlined the development of labour movement
in Korea and referred to the lack of autonomy there. However he expected somechanges in labour movement following the recent move to greater democracy. Ikuro
TAKAGI (Japan Women's University) pointed out several criteria to distinguish fivestages of development in the national federations of labour in the post-war Japan. He
noted that Rengo, formed in 1987, depended on enterprise-based trade unionism andlacked social functions. Yoshihisa TOKITA (Ritsumeikan University) gave a Marxist
view. He reminded us that some parts of organized labour had been fighting, as hethought right, in spite of the seeming retreat of the labour movement.
In the final session chaired by Shobei SHIODA and Kaichi MAEKAWA (Kyoto
University), four commentators expressed their views and raised various questions.
This four-hour discussion allowed everyone, including participants from the floor, toraise several points. New insights emerged from the questions.
(Manabu MINE)- 72 -

SOCIO-ECONOMIC HISTORY SOCIETY

The 56th annual conference of the Socio-Economic Society was held on September
24 and 25, 1988 at Kwansei Gakuin University, Nishinomiya. A symposium entitled"The Sake Brewing Industry in Japan: From the Tokugawa To the Meiji-Taisho Era"
was held on the second day under the joint chairmanship of Toshimaru HARADA(Tezukayama University) and Yuzo YAMAMOTO (Kyoto University).
Manabu YUNOKI (Kwansei Gakuin University) presented an introductory paper,in which he explained that the main aim of the symposium was to focus on political andeconomic function of sake brewing industry and to compare the brewers in Nada
(Hyogo Prefecture) with those in Chita (Aichi Prefecture) and Fushimi (Kyoto
Prefecture). He concluded that, at the rapid development of a traditional industry, thesake brewing industry had played an important role in process of modernization in
Japan.
Masahiro UEMURA (Shiga University) read a paper entitled "The Developmentof Sake Brewing Industry in Nada". He explained why the sake brewing industry
developed originally in the Nada area during the Tokugawa Era, how the brewers in
Nada coped with the transition from the Tokugawa to the Meiji Era, and what kinds oftechnical factors were behind the success of the sake brewing industry in Nada.
Toshio SHINODA (Toyota College of Technology) read a paper entitled "Ups andDowns in the Chita-sake brewing Industry", in which he emphasized that the output of
Chita-sake, and the quantity shipped to Edo, was almost as large as that of the Nada
area in the 1860s. By the 1880's the Chita-sake brewing industry was squeezed under
Finance Minister Matsukata, and became smaller and more localized. He analyzed thereason for this.
The paper presented by Kenjiro ISHIKAWA (Doshisha University) was entitled"Development of Fushimi Sake Brewing Industry". In this paper, he made it clear thatFushimi sake developed quite rapidly in the 1890's and had become fairly big andfamous (perhaps comparable to Nada) by 1910's. He suggested that important for theFushimi sake industry which was keen to expand was to learn from earlier experienceand to utilize the fruits of modernization.
In the afternoon Kazuo IKEGAMI (Kanagawa University) read a paper entitled"The Liquor Tax Policy in the Meiji Era", in which he stressed the importance ofrevenue from the liquor tax (included sake tax) in the total tax revenue of the Meiji
government. He compared it with the revenue from the land tax, and noted that theliquor tax accounted for over 30% in the total tax revenues.
The last paper was read by Takafusa NAKAMURA (Ochanomizu University)
entitled "A Quantitative History of Sake Brewing: 1871-1935". He made a statisticalsurvey of the sake brewing industry between 1871 and 1935. He showed the characterof this industry based upon macroscopic data collected by the Tax Bureau of the
Ministry of Finance. Looking at the time-series data of sake industry, he concluded- 73 -

that there were three conspicuous swings, displaying no upwards trends, through theperiod of economic growth. The number of sake breweries increased until the early
1880's, and declined after that.
Takamasa ICHIKAWA (Waseda University) and Takao FUJIWARA (Iwate
University) made short comments on the above papers and compared the sake brewerywith the beer brewing industry and technology. Six papers were published in Shakai
Keizai Shigaku, (The Socio-Economic History) Vol.55, No.2, 1989.
The 58th annual conference is to be held on 3rd and 4th of June, 1989, at Waseda
University.
(Manabu YUNOKI)- 74 -JAPAN STATISTICAL SOCIETY

The activities of the Japan Statistical Society, which was established in 1931, areconcerned with the theory of statistics and its application. These include government
statistics, computational methods, the education and training of statisticians. These
diverse interests involve many disciplines including social sciences such as economics
and demography, natural sciences and engineering as well as humanities and medical
sciences.
The fifty-sixth Annual Convention with eighteen sessions was held on July 25--27,
1988, at Fukushima University. Abstracts of all the papers presented were printed in
the Nihon Tokei Gakkai Koen-Hokoku-Syu (Proceedings of the fifty-sixth Conventionof the Japan Statistical Society). This publication includes one hundred and nine
abstracts covering some 210 pages. The English summaries of the papers presented
there was already published in the Journal of the Japan Statistical Society, Vol.18, No.2,
1988.
This year, Professor Kei TAKEUCHI (The University of Tokyo) gave a special
lecture, entitled 'Statistics in a Society of Advanced Science and Technology',emphasizing an important role of statistics in such a highly developed society. Other
contributors'sessions and the session organizers, on economics and related topics, arelisted below.
1) Econometric Analysis:
Econometric Analysis I (Atsushi MAKI, Keio University),
Econometric Analysis II (Kimio MORIMUNE, Kyoto University).
2) Analysis of Regional Economy:
Econometric Analysis of the Chinese Economy (Takafusa NAKAMURA,
Ochanomizu University),
Economic Investigations and Statistical Analysis in the Tohoku Area (Kensei
ARAYA, Fukushima University).
3) Other Related Topics:
Empirical Studies in Economics and Management (Gyoichi IWATA, Keio・u mvers1ty),

History and Statistics (Syunsaku NISHIKAWA, Keio University),
Sampling Methods and Government Statistics (Yoshiyuki SAKAMOTO, Instituteof Statistical Mathematics),
Time Series Analysis and Its Applications (Yuzo HOSOYA, Tohoku University).
Unfortunately, most papers and reports presented at each session are not available
in English, although some of them were written in English. Summaries in Japanese in
The Proceedings will give sufficient information on the title of paper and affiliation of
speaker for further inquiry. The Proceedings may be obtained from the Bureau of theSociety on request.
The Japan Statistical Society issues biannually The Journal of the Japan Statistical- 75 -

Society, which publishes original contributions. Most articles in the Journal are written
in English and all are required to have the English summaries. The Japan StatisticalSociety also published a special issue on Japanese Statistics associated with the 46th
Session of the International Statistical Institute held in Tokyo. All articles in this special
issue were written in English. The Journal can be purchased by overseas readers
through The Japan Publications Trading Co., Ltd., Tokyo International, P.O.Box
5030, Tokyo 100-31, Japan.
The next annual convention is scheduled to take place on July 25-27, 1989 at
Nagasaki University.
(Katsuto TANAKA)- 76 -JAPAN SOCIE TY OF TRANSPORTATION ECONOMICS

Annual Convention of Japan Society of Transportation Economics was held on
October 15 and 16, 1988 in Osaka under the sponsorship of Kinki University.
Following the conference discussions in 1986 and 1987, the unified theme chosen was"Transportation Costs and Pricing Policy".
Five reports, relating to the unified theme, were presented on the second of a two
day discussion.
Atsushi !SEDA (Osaka City University) considered, "Some Reflections upon theRoles of Transportation Forms and Costs in the Pricing of Transport Services". Hedeveloped his ideas through the history of economic theory.
Ken-ichi SHOJI (Kobe University) examined, "Transportation Costs and Cross­
Subsidization of various Routes". A system of pooling revenues and costs, adapted for
Urban Expressway, was considered. Using a flow-chart for judging cross-subsidization,
he stressed the strategy of the Expressway Public Corporation as decision-maker.
"Some Problems of the Rate-Base Formula in Transportation Undertakings" waspresented jointly by Akimasa SUGATA and Takashi INADA (Hankyu Electric
Railway Co., Ltd.). They wished to consider a rate-base formula in assessing the profitof public utilities. In particular, they emphasized the significance and problems ofapplying this formula to private railway and omnibus companies.
The financial implications of improving transport infrastructures were discussed by
Takehiko SUGIYAMA (Hitotsubashi University) under the title of "Financing forTransport Infrastructures — Current and Future Issues — ". He insisted that the costs
must be borne by the users, including beneficiary and public organization. Generalusers should be charged at a lower rate by applying the beneficiary-charging principle.
The last report in this section was given by Yukihide OKANO (The University ofTokyo), on "Pricing Policy under Deregulation". The usual regulation policies were notalways appropriate in present society. Referring to two Reports of Councils, (publishedon October and December, 1988) he argued that economic regulation should be eased
in order to bring out better market performance as a whole.
There were eight reports, on a variety of subjects, presented on the first day of ourmeeting at Kinki University.
Kyozo TAKECHI (Kinki University) presented a historical study, "Railway
Construction and Local Community" in case of Mie Prefecture.
An interesting idea was suggested by Takeshi OKU (Odakyu Building Service Co.,
Ltd.) in his report, "On the Frequency of Branch Trains on Urban Railways".
Nobuaki INOUE (Fukuoka University) presented a case study in the Kyusyu
region, "A Study of Tertiary Sector Railway Ltd., Its Present Condition and
Prospects".
Masaru MIYAJIMA and Kyu Seok KWAK (Tokyo Institute of Technology)
analysed port selection problems, under the title of "The Interport Competition among—- 77 -

Container Ports and Port Selection in Japan".
Based on inventory management theory, Hitoshi MITOMO (Nagoya University ofCommerce) and Yoji MIYADAI (the Economic Planning Agency) prepared theirreport, "Measurement the Effect of Expressway Networking on a Physical Distribution
System".
Yukio KUSUKI (The Prime Minister's Office) gave a report, "A Consideration on
Recent Measures to Finance future Airport Construction".
From the stand point of welfare economics, Yi-Min TAO (Hiroshima College of
Economics) was concerned with an intermodal transport system in his report, "Cost
Allocations of Through Rate and its Economic Implications".
Ryohei KAKUMOTO (Japan Transport Economics Research Center) presented avery exciting report entitled "Proposals for a Transportation Study". Conference also
noted how this report was successful in bridging the general and the u、nified themes.
In addition to these reports, two book reviews and an academic survey, "New
Trends in the Air Transportation Research since Deregulation in the U.S.A." by
Nozomu TAKAHASHI (Kyoto Industrial University) appeared in The Annual Reporton Transportation Economics, issued on March 1, 1989.
The 48th annual convention will be held on September 30 and October 1, 1989 at
the University of Tokyo on the unified theme of, "Transportation in an
Internationalized Age."(Masahiro SUGIYAMA)- 78 -

List of Member Associations
1989
0000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000

THE JAPAN ACCOUNTING ASSOCIATION
日本会計研究学会• Established: 1937
• Number of members: 1,631●

President: Seigo NAKAJIMA (Ferris University)• Publication: Monthly bulletin, "Kaikei" (Accounting)• Liaison Office of the Japan Accounting Association
cl oMoriyama Co., Hayashi Building, 1-10, Nishiki-cho, Kanda Chiyoda-ku,
Tokyo 101, Japan

0000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000

THE AGRARIAN HISTORY SOCIETY
土地制度史学会• Established: 1948
• Number of members: 1,005• Representative Director: Kaichiro OISHI (Meiji Gakuin University)• Publication: "TOCHI SEIDO SHIGAKU (The Journal of Agrarian History)"●- quarterly
Agrarian History Society
c/ oInstitute of Social Science, University of Tokyo,
7-3-1, Hongo, Bunkyo-ku, Tokyo 113, Japan

0000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000

THE AGRICULTURAL ECONOMIC SOCIETY OF JAPAN
日本農業経済学会• Established: 1924
• Honorary members 26, regular members 1,087, associate members (students) 107,
cooperative members 25• Chairman: Isoshi KAJII (Tokyo University of Agriculture and Technology)• Publication: Bulletin of the Society, "Nogyokeizai Kenkyu" (Journal of Rural●

Economics) - quar terly
The Agricultural Economic Society of Japan
cl oBusiness Center for Academic Societies Japan,
2-4-16, Yayoi, Bunkyo-ku, Tokyo 113, Japan

0000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000- 79 -

0000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000

THE JAPAN ASSOCIATION FOR ASIAN POLITICAL
AND ECONOMIC STUDIES
アジア政経学会• Established: 1953
• Number of members: 700• President: Tatsumi OKABE (Tokyo Metropolitan University)• Publication: "Asian Studies" - quarterly• Japan Association for Asian Political and Economic Studies
c/ o Professor Tatsuo YAMADA,
Department of Political Science, Keio University,
2-15-45, Mita, Minato-ku, Tokyo 108, Japan
0000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000

JAPAN AU口TING ASSOCIATION
日本監査研究学会• Established: 1978
• Number of members: 380
President: Masa'atsu TAKADA (Kobe University)• Publication: "Monograph, Research Series" — once or twice a year
• Japan Auditing Association
The Faculty of Business Administration,
Kobe University, 2-1, Rokkodai-cho, Nada-ku,
Kobe 657, Japan●

0000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000

JAPAN SOCIETY FOR THE STUDY OF
BUSINESS ADMINISTRATION
日本経営学会• Established: 1926
• Number of members: 1,880● President: Susumu KAIDO (Nara Sangyo University)• Publication: "Keieigaku Ronshu" - once a year
• Japan Society for the Study of Business Administration
cf o The Institute of Business Research, Hitotsubashi University,
Naka 2-1, Kunitachi, Tokyo 186, Japan
0000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000- 80 -

0000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000

THE JAPAN BUSINESS ENGLISH ASSOCIATION (JBEA)
日本商業英語学会• Established: 1934
• Honorary member 1, regular members 197, supporting members 7, totalling 205• President: Hiromu NAKAMURA (Doshisha University)• Publication: Nihon Shogyo Eigo Gakkai Kenkyu Nempo (The JBEA Annual
Studies)" - once a year
● The Japan Business English Association
cl o Professor Hiromu NAKAMURA,
Department of Commerce, Doshisha University,
Imadegawadori-Karasuma, Kamigyoku, Kyoto 602, Japan
0000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000

BUSINESS HISTORY SOCIETY OF JAPAN
経営史学会• Established: 1964
• Number of members: personal 710, institution 47• President: Shigeaki YASUOKA (Doshisha University)• Publication: "Japan Business Hisotry Review"-quarterly● "Japanese yearbook for Business History" - annually• Business History Society of Japancl o Professor Eisuke DAITO,
No. 711, Faculty of Economics, The University of Tokyo,
7-3-1, Hongo, Bunkyo-ku, Tokyo 113, Japan
0000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000

JAPAN SOCIETY OF BUSINESS MATHEMATICS
日本経営数学会• Established: 1959
• Number of members: 120• President: Tadashi FUJITA (International Christian University)• Publication:'、Annual Report of Japan Society of Business Mathematics"●

Japan Society of Business Mathematics
c/o Professor Tadashi FUJITA, International Christian University,
3-10-3, Ohsawa Mitaka-shi, Tokyo 181, Japanoooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo- 81 -

0000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000

JAPAN SOCIETY OF COMMERCIAL SCIENCES
日本商業学会● Established: 1951
● Number of members: honorary 6, ordinary 700, supporting companies IO● President: Yukichi ARAKAWA (Kobe University)

Publication: "Journal of Japan Society of Commercial Sciences" - annually● Japan Society of Commercial Sciences
Kenkyu-to Building, Meiji University,
1-1, Kanda Surugadai, Chiyoda-ku, Tokyo 101, Japan●

0000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000

JAPAN SOCIETY FOR COMMODITY SCIENCE
日本商品学会• Established: 1935
• Number of members: regular members 290 including 11 foreigners, supporting
members 3• Chairman: Yoshiro IIJIMA (Waseda University)● Publication: Quarterly bulletin, "Shohin Kenkyu" (Studies on Commodities)● Japan Society for Commodity Sciencec/o Hitotsubashi University, Naka 2-1,
Kunitachi, Tokyo 186, Japan
0000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000

THE SOCIETY OF ECONOMIC SOCIOLOGY
経済社会学会• Established: 1966
• Number of members: 300• President: Yohichi UTSUMI (Osalca G祉uin University)• Publication: "The Annals of the Society of Economic Sociology"● The Society of Economic Sociology
cl o Gakkai-Jimu-Center,
1-20-38, Sengen, Tsukuba, lbaraki 305, Japan
0000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000- 82 -

0000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000

THE SOCIETY FOR THE HISTORY OF ECONOMIC THOUGHT
経済学史学会• Established: 1950
• Number of members: 802• President: Yoshiki YOSHIZAWA (Senshu University)• Publication: "The Annual Bulletin of the Society for the History of Economic
Thought" - once a year
• The Society for the History of Economic Thought
c/o Professor Yoshiki YOSHIZAWA,
Faculty of Economics, Senshu University,
2-1-1, Higashimita, Tama-ku, Kawasaki-shi 214, Japan
0000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000

THE JAPAN ASSOCIATION OF ECONOMICS ANDECONOMETRICS
理論・計量経済学会• Established: 1947
• Number of members: 1,94 3• President: Hirofumi UZAWA (Niigata University)• Publication: "The Economic Studies Quarterly"● The Japan Association of Economics and Econometrics
cl o The Institute of Statistical Research,
1-18-16, Shimbashi, Minato-ku, Tokyo 105, Japan
0000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000

THE JAPAN ASSOCIATION OF ECONOMIC GEOGRAPHERS
経済地理学会• Established: 1954
• Number of members: 680, patronage members: 10• President: Motosuke ISHII (Meiji University)• Publication: "Keizai-Chiri Gaku Nempo" (Annals of The Japan Association of
Economic Geographers) - quarterly• The Japan Association of Economic Geographers
cl o Institute of Economic Geography,
Faculty of Economics, Hitotsubashi University,
Naka 2-1, Kunitachi, Tokyo 186, Japan
0000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000- 83 -

0000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000

JAPAN ECONOMIC POLICY ASSOCIATION
日本経済政策学会●

Established: 1940

• Number of members: individuals 1,134, institutions 3• President: Toshinosuke KASHIWAZAKI (Waseda University)●

Publication: "Nippon Keizai Seisaku Gakkai Nenpo" (The Annals of the Japan●

Japan Economic Policy Association

Economic Policy Association) - annualc/ oProfessor Toshinosuke KASHIWAZAKI,
Waseda University,
1-6-1, Nishiwaseda, Shinjuku-ku, Tokyo 169, Japan

0000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000

JAPAN FINANCE ASSOCIATION
日本経営財務研究会• Established: 1977
• Number of members: 400●

President: Goichi KATA Y AMA (Fukuoka University)• Publication: "The Annual Report of Japan Finance Association" - annually• Japan Finance Association
The Faculty of Business Administration,
Kobe University,
2-1, Rokkodai-cho, Nada-ku, Kobe 657, Japan
0000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000

JAPANESE ASSOCIATION OF FISCAL SCIENCE
日本財政学会●Established: 1940●

Number of members: 613●

Chairman: Hiromitsu lSHI (Hitotsubashi University)●

Publication: "Annual Report of the Japanese Association of Fiscal Science"●

The Japanese Association of Fiscal Sciencec/ o The Institute of Statistical Research,
1-18-16, Shimbashi, Minato-ku, Tokyo 105, Japan

0000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000- 84 -

0000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000

JAPAN ACADEMY FOR FOREIGN TRADE (JAFT)
日本貿易学会• Established: 1960●

Number of members: 293●

President: Yoshio SAITO (Chuo Gakuin University)●

Publication: "The Annual Bulletin of the Japan Academy for Foreign Trade",(Annual publication)"JAFT News", twice yearly●Japan Academy for Foreign Tradec/ oProfessor R. ASA OKA,
School of Commerce, Waseda University,
1-6-1, Nishiwaseda, Shinjuku-ku, Tokyo 169, Japan

0000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000

THE JAPANESE SOCIETY OF INSURANCE SCIENCE
日本保険学会• Established: 1940
• Honorary members 8 including two foreigners, ordinary members 688 including 25
foreigners, supporting members 65 organization• Chairman: Eiichi KIMURA (Chuo University)●

Publication: "Journal of Insurance Science" (Hoken-gaku Zasshi) - quarterly●

Japanese Society of Insurance Sciencec/ o

The Life Insurance Association of Japan,
3-4-1, Marunouchi, Chiyoda-ku, Tokyo 100, Japan

0000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000

THE JAPAN SOCIETY OF INTERNATIONAL ECONOMICS
国際経済学会●Established: 1950

• Number of members: 1,100• President: Fukutaro WAT ANABE (Gakushuin University)●

Publication: "The International Economy" - annualy●

The Japan Society of International Economics
c/ oProfessor Ken'ichi ODA WARA,
Faculty of Economics, Jochi (Sophia) University,
7, Kioi-cho, Chiyoda-ku, Tokyo 102, Japan

0000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000- 85

0000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000

THE JAPAN SOCIETY OF MONETARY ECONOMICS
金融学会• Established: 1943
• Number of members: 827●

President: T akeshiro KODERA (Kwansei Gakuin University)• Publication: "Bulletin of the Japan Society of Monetary Economics" - biannually• Japan Society of Moneatry Economics
c/ oToyo Keizai Shinpo-sha,
1-2-1, Hongoku-cho, Nihonbashi, Chuo-ku, Tokyo 103, Japan

0000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000

THE ACADEMIC ASSOCIATION FOR ORGANIZATIONALSCIENCE
組織学会• Established: 1959
• Number of members: individual members 1,108, company members 36●

President: Yasuo OKAMOTO (The University of Tokyo)• Publication: "Organizational Science" - quarterly• Academic Association for Organizational Sciencecl o

Room No. 614, Department of Economics, The University of Tokyo,
7-3-1, Hongo, Bunkyo-ku, Tokyo 113, Japan

0000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000

JAPAN SOCIETY FOR PERSONNEL AND LABOR RESEARCH
日本労務学会• Established: 1970
• Number of members: 619• Representative director: Kyoichi FUTAGAMI (Waseda University)• Publication: "Series in Personnel and Labor Problems" - annualy●

Japan Society for Personnel and Labor Researchcl oProfessor Kyoichi Futagami, School of Commerce, Waseda University,
1-6-1, Nishiwaseda, Shinjuku-ku, Tokyo 169, Japan

0000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000- 86 -

0000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000

JAPAN ASSOCIATION FOR PLANNING ADMINISTRATION
日本計画行政学会• Established: 1977
• Number of members: 1,307• President: Hiroshi KATO (Keio University)• Publication: "Planning Administration" - biannually● Japan Association for Planning Administration
cf o The Institute of Statistical Research,
1-8-16, Shimbashi, Minato-ku, Tokyo 105, Japan
0000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000

JAPAN SOCIETY OF POLITICAL ECONOMY
経済理論学会• Established: 1959
● Number of members: 1,002• Chief Representative: Kiyoko IMURA (Keio University)● Publication: "The Ann叫Bulletin of the Society of Political Economy" - annually● Japan Society of Political Economy
cf o Professor Kiyoko IMURA,
Keio University,
2-15-45, Mita, Minato-ku, Tokyo 108, Japan
0000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000

THE POPULATION ASSOCIATION OF JAPAN
日本人口学会• Established: 1948
• Members: 34 7, honorary members 4, special members 3• President: Minoru MURAMATSU• Publication: "Jinkogaku Kenkyu" (The Journal of Population Studies)• Population Association of Japancl o Institute of Population Problems,
Ministry of Health and Welfare,
1-2-2, Kasumigaseki, Chiyoda-ku, Tokyo 100, Japan
0000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000- 87 -

oooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo

THE JAPAN SOCIETY OF PUBLIC UTILITY ECONOMICS
公益事業学会• Established: 1949
• Number of members: regular members 332, corporation members 74• Chairman: Tomoji ICHINOSE (Ishinomaki Senshu University)• Publication: "Journal of Public Utility Economics"• Koeki Jigyo Gakkai (The Japan Society of Public Utility Economics)
Akasaka Community Bldg.,

cl o

1-1-8, Motoakasaka, Minato-ku, Tokyo 107, Japan

0000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000

THE JAPAN SECTION OF
THE REGIONAL SCIENCE ASSOCIATION
日本地域学会• Established: 1962●

Number of members: 587●

President: Hirotada KOHNO (University of Tsukuba)• Publication: "Studies in Regional Science - the Papers and Proceedings of the Japan·●

Section of RSA" ("Chiikigaku Kenkyu" in Japanese) - annually

The Japan Section of the Regional Science Associationc/ oInstitute of Socio-Economic Planning,
University of Tsukuba,
Tsukuba, Ibaraki 305, Japan

0000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000

THE SOCIETY FOR THE ECONOMIC STUDIES OF SECURITIES
証券経済学会• Established: 1966
• Number of members: 441• Representative: Yoshio KUMANO (Senshu University)●

Publication: "Annals of Society for the Economic Studies of Securities" - annually●

Society for the Economic Studies of Securities
c/ oJapan Securities Research Institute,Tokyo Shoken Kaikan,
1-5-8, Nihonbashi-Kayabacho, Chuo-ku, Tokyo 103, Japan

0000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000- 88 -

0000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000

ASSOCIATION FOR THE STUDYIN SOCIALIST ECONOMIES
社会主義経済学会• Established: 1967
• Number of members: 220• Chief Representative: Tsuneaki SATO (Nihon University)• Publication: "Bulletin of the Association for the Study in Socialist Economies" annually• Association for the Study in Socialist Economies
cl o Professor Yuichi HASEBE
Yokohama National University,
156, Tokiwadai, Hodogaya-ku, Yokohama 240, Japan
0000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000

THE SOCIETY FOR THE STUDY OF SOCIAL POLICY
社会政策学会• Established: 1950
• Number of members: 825• Representative manager: Haruya SHIMAZAKI (Chuo University)• Publication: "Shaki-Seisaku Gakkai Nenpo" (Annals of the Society for the Study ofSocial Policy)● Society for the Study of Social Policy
cl o Professor Haruya SHIMAZAKI,
Faculty of Economics, Chuo University,
742-1, Higashinakano, Hachioji-shi, Tokyo 192-03, Japan
0000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000

SOCIO-ECONOMIC HISTORY SOCIETY
社会経済史学会
Established: 1930
• Number of members: 1,126• Representative Director: Ken'ichiro SHODA (Waseda University)●• Publication: "Shakai Keizai Shigaku" (Socio-Economic History) - bimonthly● Shakai Keizaishi Gakkai (Socio-Economic Histor y Society)c/ o Professor, A. HAYAMI,
Keio University,
2-15-45, Mita, Minato-ku, Tokyo 108, Japan
0000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000- 89

0000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000

JAPAN STATISTICAL SOCIETY
日本統計学会• Established: 1931
• Number of members: 1,196• President: Hirotsugu AKAIKE (The Institute of Statistical Mathematics)• Publication: "Journal of the Japan Statistical Society" - biannually● Japan Statistical Society
cl o

The Institute of Statistical mathematics,
4�6-7, Minami-Az.abu, Minato-ku, Tokyo 106, Japan

0000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000

JAPAN SOCIETY OF TRANSPORTATION ECONOMICS
日本交通学会• Established: 1941
• Number of members: 354 regular members including 4 advisory members (individual)and 32 special members (corporations)● President: Haruya HIROOKA (Hosei University)● Publication: "Kotsugaku Kenkyu" (Annual Report on Transportation Economics)● The Japan Society of Transportation Economics (Nihon Kotsu Gakkai)
c/ o Unyu-Chosa-Kyoku,
7-1-1, Ueno, Taito-ku, Tokyo 110, Japan
0000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000- 90