Suchergebnisse

Japan's population has been declining since it reached its peak in 2008, and the annual decrease is expected to expand gradually in the future. In this situation, improvement in the fertility rate and intake of foreigners have attracted great attention. However, since the total fertility rate (TFR) has remained stagnant between 1.40 and 1.45 in recent years, more attention is being paid to the role of foreigners as "replacement migration," and the importance of this has even been highlighted by the United Nations (2001). Noteworthy trends in relation to this are the regional disparity of population decline and the distribution of foreign nationals in contemporary Japan. In particular, the issue of depopulation is serious in peripheral parts of the country because it has been occurring since the 1980s. Meanwhile, the monopolar concentration of population, including foreign residents, into Tokyo has also been a major issue. Keeping the above developments in mind, the first edition of Mapping Foreign Residents in Japan , which I edited, was published in 2011; thanks to its favourable reception, a revised edition was published in January 2019. Both editions were prepared especially for policy-makers of national and local government offices in charge of foreign residents. It includes more than 100 maps. This presentation aims to introduce the maps that visualize the status of foreign residents in Japan's major cities and to outline the distinctive features of the differentiation in their residential distribution. The work's chief sources are national government statistics such as population census (including microdata of foreign residents in the 2015 census), statistics on foreign residents, and vital statistics. The maps are arranged by six topics (distribution/changes, gender/age/nationality, status-of-residence, employment, life, and enclaves/migration), and each topic has several sub-topics. Maps of foreign residents in major cities are drawn on a municipality basis (city, ward, town, and village) or on a small-area unit basis ( cho-cho and aza ). Figure 1 shows an example from the second edition. Major findings obtained from the series of maps in the recently revised publication are summarized as follows. First, there are very few remarkably large enclaves composed of small-unit areas with a high ratio of foreign residents, suggesting that most foreign residents, even in such areas, tend to reside alongside Japanese residents. Second, major enclaves for 'oldcomers' (Korean and Chinese residents) are located in the inner-city areas of a few metropolises. Third, major enclaves for newcomers are confirmed to exist in four types of small-area units: downtown, public housing, around universities, and around factories.

Japan's population has been declining since it reached its peak in 2008, and the annual decrease is expected to expand gradually in the future. In this situation, improvement in the fertility rate and intake of foreigners have attracted great attention. However, since the total fertility rate (TFR) has remained stagnant between 1.40 and 1.45 in recent years, more attention is being paid to the role of foreigners as "replacement migration," and the importance of this has even been highlighted by the United Nations (2001). Noteworthy trends in relation to this are the regional disparity of population decline and the distribution of foreign nationals in contemporary Japan. In particular, the issue of depopulation is serious in peripheral parts of the country because it has been occurring since the 1980s. Meanwhile, the monopolar concentration of population, including foreign residents, into Tokyo has also been a major issue. Keeping the above developments in mind, the first edition of Mapping Foreign Residents in Japan, which I edited, was published in 2011; thanks to its favourable reception, a revised edition was published in January 2019. Both editions were prepared especially for policy-makers of national and local government offices in charge of foreign residents. It includes more than 100 maps. This presentation aims to introduce the maps that visualize the status of foreign residents in Japan's major cities and to outline the distinctive features of the differentiation in their residential distribution. The work's chief sources are national government statistics such as population census (including microdata of foreign residents in the 2015 census), statistics on foreign residents, and vital statistics. The maps are arranged by six topics (distribution/changes, gender/age/nationality, status-of-residence, employment, life, and enclaves/migration), and each topic has several sub-topics. Maps of foreign residents in major cities are drawn on a municipality basis (city, ward, town, and village) or on a small-area unit basis (cho-cho and aza). Figure 1 shows an example from the second edition. Major findings obtained from the series of maps in the recently revised publication are summarized as follows. First, there are very few remarkably large enclaves composed of small-unit areas with a high ratio of foreign residents, suggesting that most foreign residents, even in such areas, tend to reside alongside Japanese residents. Second, major enclaves for 'oldcomers' (Korean and Chinese residents) are located in the inner-city areas of a few metropolises. Third, major enclaves for newcomers are confirmed to exist in four types of small-area units: downtown, public housing, around universities, and around factories.

Abstract
"Rethinking Sovereign Debt: Politics, Reputation, and Legitimacy in Modern Finance" by Odette Lienau convincingly challenges the notion that the norm of debt continuity is a "stable and inevitable market principle" by providing a thorough analysis of the historical and political contexts surrounding this norm. The author's approach which goes beyond the "market narrative" on the norm of debt continuity provides significant insights into the difficult issues of debt repudiation. This approach reveals the politically and historically variable nature of the norm of debt continuity. As such, the author demonstrates the openness and the possible development of sovereign debt practices towards accepting a more flexible and non-statist approach to sovereign debt management.

It would not take a long time for a firm to determine factory's location when the firm's production activity was almost confined in a country. While, in the globalized economy a firm takes a series of steps to decide factory's location since spatial range of a firm's production activity is expanded to a large geographical area in which several countries are contained. Nowadays, as a firm plans to establish a new factory, it faces the issue of country selection and site choices within the selected country. To decide factory's location a firm proceeds location determination processes deliberating various location factors. Especially, the corporation tax and the interest rates of countries are important location factor in the early stage of the location determination process since they decisively affect the firm's profits. In addition, in the globalized economy a new mechanism begins to work in firm's production management, the function of the transfer price of intermediate goods: Many manufacturing firms fragment production process into several blocs and scatter the fragmented blocs across countries. Thus, intermediate goods produced by each factory are moved between the factories which are located in different countries. In the movement of these goods the transfer price is utilized. Because the firm can measure each factory's profit by using the transfer price and estimate each factory's profit contribution to the firm. While, the country in which factory locates can charge the corporation tax on the factory's profit that is grasped by the transfer price. This paper analyzes the effects of the corporation tax rate and the interest rate on the firm's location decision through the transfer price function. By using a numerical simulation method, this paper clearly shows that the corporation tax rate and the interest rate play decisive role in settling the spatial range in which the location of a factory is prospective, furthermore, these rates influence not only firm's region selections but also site choices within the selected region. The corporation tax rate and the interest rate which are manipulated by the government and the central bank play the more important role in the determination of factory's location. This paper suggests that when the government and the central bank settle the corporation tax rate and the interest rate, they should pay attention to these factors' location power.

Abstract
On 16 June 2014, the Supreme Court of the United States rejected the petition for a writ of certiorari stemming from the dispute over the meaning of the pari passu clause in the Argentine sovereign bonds. This decision had a dramatic impact on Argentina's sovereign debt restructurings (SDR) – indeed, it arguably led to Argentina's second default in 13 years on 30 July 2014. On the same day that the petition for certiorari was rejected, the Supreme Court rendered a judgment on the issue of the relationship between discovery in aid of execution against the debtor state's extraterritorial assets and the law of state immunity. In Republic of Argentina v. NML Capital, Ltd., judgment of 16 June 2014, the Supreme Court affirmed the Second Circuit's conclusion that the extraterritorial assets discovery against two non-party banks in aid of executing the judgments stemming from Argentina's default of its external debt did not offend Argentina's sovereign immunity. This comment addresses this judgment on extraterritorial discovery which, although less headline grabbing than the decisions on the pari passu clause, also marks a victory for holdout creditors. It first provides a summary of the background of the case and the judgment, and then considers its implications on the future SDR. Regarding the implications of the case on the future SDR, this comment also describes the developments of law concerning the relationship between the law on foreign investment and SDR (in investment arbitration) and the relationship between investment arbitration awards and sovereign immunity (in US courts). First, it examines the recent decisions in ICSID arbitration concerning the disputes arising from the Argentina's default and subsequent SDR (Abaclat v. Argentina (decision on jurisdiction and admissibility of 4 August 2011) and Ambiente v. Argentina (decision on jurisdiction and admissibility of 8 February 2013)). In essence, these decisions opened the door to investment treaty arbitration for holdout creditors of international sovereign bonds, for the first time in the history of investment arbitration. It then describes the Second Circuit's recent decision in Blue Ridge v. Argentina (judgment of 19 August 2013) in which the court concluded that the defendant state in an ICSID arbitration was considered to have waived its jurisdictional immunity under the Foreign State Immunity Act of 1976 (FSIA). It argues that the combination of: (a) Argentina v. NML, (b) Blue Ridge v. Argentina, and (c) the openness of ICSID arbitration to disputes arising from SDR will have potentially serious consequences for future SDR.