Ⅰ. Introduction ……………………………………………………………. . 1
Ⅱ. Japanese FDI outflows and Japanese affinity with foreign countries .. 3
Ⅲ. Determinants of FDI location …………………………………………... 8
Ⅳ. Data and methodology ............................................................................ 13
Ⅴ. Findings ………………………………………………………………… 20
Ⅵ. Robustness checks ................................................................................... 23
Ⅶ. Conclusion ................................................................................................ 25
References ………………………………………………………………….. 28