This is a preface article published in Issue 160 of the Financial Review by the Policy Research Institute, Ministry of Finance. Professor Eiji Ogawa explains the overview and significance of joint research on economic analysis using import/export declaration data.
Key Points
1. Research Background and Objectives
- Importance of Administrative Data: A valuable data source for comprehensively understanding firms' import/export activities
- Research Necessity: Detailed understanding of Japanese firms' trade behavior in an increasingly globalized world
- Policy Significance: Contributing to evidence-based trade and exchange rate policy formulation
- International Context: Japan's participation in economic analysis using administrative data progressing worldwide
2. Characteristics and Usability of Import/Export Declaration Data
- Data Comprehensiveness: Census data covering all import/export transactions
- Detail: Analysis possible at firm, product, and partner country levels
- Time Series: Ability to track corporate behavior over extended periods
- Utilization for Policy Evaluation: Optimal data foundation for measuring effects of institutional changes
3. Overview of Research on Japanese Firms' Import/Export Behavior
- Firm Heterogeneity: Productivity gap between trading and non-trading firms
- Entry/Exit Dynamics: Clarification of entry/exit patterns in international markets
- Transaction Concentration: Oligopolistic structure of trade by a small number of large firms
- Geographic Dispersion: Diversification strategies for export destinations and import sources
4. Introduction to Research on Trade Invoice Currency Choice
- Importance of Currency Choice: Impact on exchange risk management and price competitiveness
- Japanese Characteristics: Ratio of yen-denominated transactions and their determinants
- Intra-firm Trade: Specificity of currency choice in multinational corporations
- Policy Implications: Yen internationalization and strengthening corporate competitiveness
5. Research on the Impact of Liberalizing Import/Export Declaration Customs Offices
- System Reform Content: Liberalization of declaration office choice from October 2017
- Expected Effects: Improved corporate convenience and cost reduction
- Actual Usage Status: Characteristics and usage patterns of system-using firms
- Policy Evaluation: Measuring deregulation effects and future challenges
6. Future Prospects and Challenges
- Expanding Data Access: Need to open access to more researchers
- Advancement of Analytical Methods: Utilization of new technologies like machine learning
- Strengthening Policy Linkages: Reflecting research results in policy formulation
- International Comparative Research: Promoting comparative analysis with other countries' data
7. Significance of This Research Project
- Academic Contribution: Empirical verification of micro-level trade theory
- Policy Contribution: Promoting evidence-based policy making (EBPM)
- Social Contribution: Implications for strengthening Japanese firms' international competitiveness
- Foundation for the Future: Pioneering example of administrative data utilization research
This preface clearly demonstrates the possibilities of economic analysis using import/export declaration data as administrative big data and the positioning of each paper included in this special issue, opening new horizons for empirical research utilizing trade data in Japan.