Abstract
Common misperceptions notwithstanding, Japanese foreign direct investment (FDI) in Europe has a long history. Such investment first penetrated European markets in the 1870s, and it has since evolved through a number of important historical phases. In quality, sectoral composition, location, motivation, and several other characteristics, Japanese FDI in Europe exhibited striking continuities during its first century of development. In more recent years, however, each of these characteristics has undergone substantial change as compared to earlier times.
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