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Imposed Efficiency of Treaty Port: Japanese Industrialization and Western Imperialist Institutions

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  • NAKABAYASHI, Masaki

    ()
    (Institute of Social Science, The University of Tokyo)

Abstract

An intrinsic feature of a pre-modern society is in its fragmentary markets. Fragmentary markets are more likely to fail in the coordination of resource allocation. However, if a concentrated market is exogenously formed and the market could provide the only price to local markets, the market can work as a pivot of coordination for development. Treaty port markets imposed on nineteenth-century Japan worked as the pivot and ignited Japan's industrialization. We examine the silk-reeling industry, which was the major export industry and which led to Japanese industrialization, and the role of treaty ports in its development.

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File URL: http://www.iss.u-tokyo.ac.jp/publishments/dpf/pdf/f-142.pdf
File Function: Revised version, November. 2013
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Bibliographic Info

Paper provided by Institute of Social Science, The University of Tokyo in its series ISS Discussion Paper Series (series F) with number f142.

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Length: 59 pages
Date of creation: 01 Nov 2008
Date of revision: 07 Dec 2013
Publication status: Published in the Review of Development Economics, 18(2), May 2014, 254-271.
Handle: RePEc:itk:issdps:f142

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Related research

Keywords: international trade; institutions; economic openness; treaty port; empire effect;

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References

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  1. Christopher M. Meissner, 2003. "Exchange-Rate Regimes and International Trade: Evidence from the Classical Gold Standard Era," American Economic Review, American Economic Association, vol. 93(1), pages 344-353, March.
  2. Douglass C. North, 2005. "Introduction to Understanding the Process of Economic Change
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  3. Paolo Mauro & Yishay Yafeh & Nathan Sussman, 2001. "Emerging Market Spreads: Then Versus Now," OFRC Working Papers Series 2001fe03, Oxford Financial Research Centre.
  4. Daniel M. Bernhofen & John C. Brown, 2004. "A Direct Test of the Theory of Comparative Advantage: The Case of Japan," Journal of Political Economy, University of Chicago Press, vol. 112(1), pages 48-67, February.
  5. Sussman, Nathan & Yafeh, Yishay, 2000. "Institutions, Reforms, and Country Risk: Lessons from Japanese Government Debt in the Meiji Era," The Journal of Economic History, Cambridge University Press, vol. 60(02), pages 442-467, June.
  6. Alan M. Taylor & Natalia Chernyshoff & David Jacks, 2005. "Stuck on Gold:Real Exchange Rate Volatility and the Rise and Fall of the Gold Standard, 1870–1939," Working Papers 67, University of California, Davis, Department of Economics.
  7. Federico,Giovanni, 2009. "An Economic History of the Silk Industry, 1830–1930," Cambridge Books, Cambridge University Press, number 9780521105262, April.
  8. Broadberry, S N, 1994. "Technological Leadership and Productivity Leadership in Manufacturing since the Industrial Revolution: Implications for the Convergence Debate," Economic Journal, Royal Economic Society, vol. 104(423), pages 291-302, March.
  9. Kris James Mitchener & Marc D. Weidenmier, 2004. "Empire, Public Goods, and the Roosevelt Corollary," NBER Working Papers 10729, National Bureau of Economic Research, Inc.
  10. Meissner, Christopher M., 2005. "A new world order: explaining the international diffusion of the gold standard, 1870-1913," Journal of International Economics, Elsevier, vol. 66(2), pages 385-406, July.
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Cited by:
  1. Mathias Hoffmann & Toshihiro Okubo, 2012. "'By a Silken Thread': regional banking integration and pathways to financial development in Japan's Great Recession," ECON - Working Papers 102, Department of Economics - University of Zurich.

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