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"In fact, the recent increase in intra-firm trading enables businesses to shift their activities across borders smoothly, thereby strengthening the response of economic activity to exchange rate movements in the long run."
Fact,
Standard
Customized
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"There is hopeful symbolism in the fact that flags do not wave in a vacuum."

"In films, the fact that you can always do a scene again takes a load off your mind, enabling you to strive for perfection, which I always wanted."

"I stuck out like a sore thumb when I came on, just by the fact that I looked so different. I think that adjustment for the audience was a hurdle for me."
Fact,

"I knew the wild riders and the vacant land were about to vanish forever... and the more I considered the subject, the bigger the forever loomed. Without knowing how to do it, I began to record some facts around me, and the more I looked the more the panorama unfolded."

"The importance of certain problems concerning the facts will be inherent in the structure of the system."

"It is like living in a wilderness of mirrors. No fact goes unchallenged."
Explore more quotes by Toshihiko Fukui


"The direct investment of Japanese businesses to East Asian economies accelerates the reallocation of their production bases. Consequently, between Japan and the other East Asian countries, both exports and imports are growing substantially."


"The staff at the Institute will present an analysis on how asset price fluctuations and subsequent structural adjustments influence sustained economic growth, based on Japan's experience since the second half of the 1980s."


"The standard growth theory tells us that economic growth in per capita basis comes from mainly two sources: capital deepening and total factor productivity growth, or TFP growth."


"Well-functioning financial systems are important in achieving sustained economic growth. They play a crucial role in channeling household savings into the corporate sector and allocating investment funds among firms."


"However, in spite of the general perception that monetary policy should be conducted so as to avert deflation, a central bank cannot lower interest rates below the zero lower bound."


"During the past two decades, inflation has fallen to a low level in major industrial countries."


"The increased global linkages promote economic growth in the world through two key mechanisms: the division of labor and the international spillovers of knowledge."


"In this context, the current recovery in the Japanese economy is taking place in tandem with the growing interdependence with the rest of the world, particularly with the other East Asian economies."


"Japan's experience suggests the importance of assessing the sustainability of price stability over a fairly long period, which many central banks have emphasized in recent years."


"As the new endogenous growth theory suggests, TFP growth is closely related to accumulation of the intangible capitals, such as human capital and research and development."
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