The Plaza Accord revalued the Japanese Yen
Reference sources and peer-reviewed economic literature establish that the 1985 Plaza Accord led to the depreciation of the U.S. dollar against the Japanese yen, resulting in the yen's strong appreciation.
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Plaza Accord. https://en.wikipedia.org/wiki/Plaza_Accord
The Plaza Accord was a joint agreement signed on September 22, 1985, at the Plaza Hotel in New York City, between France, West Germany, Japan, the United Kingdom, and the United States, to depreciate the U.S. dollar in relation to the French franc, the German Deutsche Mark, the Japanese yen and the British pound sterling by intervening in currency markets. The U.S. dollar depreciated significantly The Plaza Accord was a joint agreement signed on September 22, 1985, at the Plaza Hotel in New York City, between France, West Germany, Japan, the United Kingdom, and the United States, to depreciate the U.S. dollar in relation to the French franc, the German Deutsche Mark, the Japanese yen and the British pound sterling by intervening in currency markets. The U.S. dollar depreciated significantly from the time of the agreement until it was replaced by the Louvre Accord in 1987. Some commentators believe the Plaza Accord contributed to the Japanese asset price bubble of the late 1980s.
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Economic history of Japan. https://en.wikipedia.org/wiki/Economic_history_of_Japan
to depreciate the dollar against the yen. Japan's economy entered a bubble phase as Japanese capital (which following the Plaza Accords was relatively The economic history of Japan concerns the development of the economy of Japan from ancient times to the present. Early Japanese society was primarily agricultural, although trade with mainland Asia introduced new technologies and cultural influences. Following the rise of the Imperial House and increasing political centralization, Japan developed systems of taxation, administration, and currency Thr…
Plazza Acord and the “Explosion” of the Japanese FDI. 2014. https://doi.org/10.1016/S2212-5671(14)00546-2
Abstract As the name already states, the present article proposes to analyze the advancement of Japan's FDI, caused by the yen's strong appreciation (after the Plaza Accord-1985). The increasing of the Japan's currency and the disputes with western states, caused by the trade surplus, made the aggressive export policy harder to accomplish. Therefore, they had to find a new paradigm of growth, which could provide a sustained economic development. They tried to expand the investments abroad, which were considered the adequate solution at that time. The aim of this study is to analyze the evolution of the FDI, its allocation by regions/countries, by sectors (manufacturing, nonmanufacturing ones) and also the consequences on the Japanese economy.
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