DEREGULATION AND JAPAN'S INDUSTRY : THE CASE OF THE PETROLEUM INDUSTRY

다국어 초록 (Multilingual Abstract)

Currently, most of Japan's regulated industries are in a bottleneck situation characterized by the combination of on-going deregulation with no progress being witnessed in the series of radical reform. In trying to break away from this bottleneck situation neither calling off the on-going deregulation, Policy A, nor continuing to endorse the common assumption that 'it is sufficient if a semblance of deregulation is achieved,' Policy B, is desirable. Policy A ignores the aspect of industrial regulation causing the industry's fragility, the mutually amplifying effect while Policy B makes light of the aspect of industry fragility conversely generating government involvement.

목차 (Table of Contents)

• 1. INTRODUCTION
• 2. DOWNWARD SPIRAL OF GOVERNMENT INVOLVEMENT AND INDUSTRY FRAGILITY
• Fragility of Japan's Petroleum Industry and the Reasons for such Fragility
• Separation Between Upstream and Downstream
• Too Many, Too Small Oil Companies
• Downward Spiral of Government Involvement and Industry Fragility
• 3. PROBLEMS OF DEREGULATION IN JAPAN'S PETROLEUM INDUSTRY
• Process of Deregulation
• Lack of Strategic Reforms
• 4. EXPERIENCES OF FOREIGN OIL COMPANIES
• The Present Situation of the World's Petroleum Firms
• Profits Origin of Oil Majors
• Economic Independence of National Flagship Oil Companies in Non-oil-producing Countries
• 5. FUTURE DIRECTION FOR JAPAN'S PETROLEUM INDUSTRY
• Promotion of Vertical Integration
• Promotion of Horizontal Integration
• Strategic Operation of the Business
• Phasing out of Government's Involvement
• 6. CONCLUDING REMARKS