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Public Policy, Private Preferences, And The Japanese Trade Pattern

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  • Marcus Noland

Abstract

As nontariff forms of trade protection proliferate it has become more difficult to analyze the impact of trade policy on trade flows. In a number of well-known papers researchers have attempted to infer the impact of trade policy indirectly by ascribing to trade policy the differences between actual and predicted trade flows. Much of the work has been applied to analysis of Japanese trade policy, and the conclusions of these studies have differed widely. Some previous research has also ascribed a role to the keiretsu, or networks of affiliated firms, in explaining Japan's apparently distinctive trade performance. This paper presents a model that integrates data on factor endowments, observable protection in traditional and nontraditional forms, and the keiretsu. It extends existing research in two principal ways. First, alternative cross-national models of comparative advantage are nested to permit the identification of critical modeling assumptions underlying the divergent conclusions of the previous studies. Second, the results of the indirect method are externally validated by confronting these inferences with data on trade policy and the keiretsu. The results indicate that trade policy and the keiretsu have an important impact on Japanese trade performance. © 1997 by the President and Fellows of Harvard College and the Massachusetts Institute of Technology

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Bibliographic Info

Article provided by MIT Press in its journal The Review of Economics and Statistics.

Volume (Year): 79 (1997)
Issue (Month): 2 (May)
Pages: 259-266

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Handle: RePEc:tpr:restat:v:79:y:1997:i:2:p:259-266

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Cited by:
  1. Robert Z. Lawrence, 1993. "Japan's Different Trade Regime: An Analysis with Particular Reference to Seiretsu," Journal of Economic Perspectives, American Economic Association, American Economic Association, vol. 7(3), pages 3-19, Summer.
  2. Jeffrey A. Frankel., 1993. "Is Japan Creating a Yen Bloc in East Asia and the Pacific?," Center for International and Development Economics Research (CIDER) Working Papers, University of California at Berkeley C93-007, University of California at Berkeley.
  3. Marcus Noland & Howard Pack, 2002. "Industrial Policies and Growth: Lessons from International Experience," Working Papers Central Bank of Chile, Central Bank of Chile 169, Central Bank of Chile.
  4. Belderbos, Rene & Wakasugi, Ryuhei & Zou, Jianglei, 2010. "Business groups, foreign direct investment, and capital goods trade: The import behavior of Japanese affiliates," MERIT Working Papers, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT) 066, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
  5. Saxonhouse, G.R., 1993. "What Does Japanese Trade Structure Tell Us about Japanese Trade Policy?," Working Papers, Research Seminar in International Economics, University of Michigan 337, Research Seminar in International Economics, University of Michigan.
  6. Tri WIDODO & Diyah PUTRIANI, 2011. "RMB Devaluation and Asean5 Countries’ Exports to the US: Complementary or Substitute?," Review of Economic and Business Studies, Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, issue 8, pages 169-184, December.

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