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Foreign Technology Acquisition Policy and Firm Performance in Japan, 1957-1970: The Japanese Industrial Policy Revisited

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  • Kozo Kiyota

    (Faculty of Business Administration, Yokohama National University)

  • Tetsuji Okazaki

    (Faculty of Economics, The University of Tokyo)

Abstract

We examine the cause and effect of technology acquisition policy on firm performance, using firm-level data between 1957 and 1970. Our results indicate that in the technology acquisition licensing, the government screened a firm's application, based on (i) the industry that the firm belonged to and (ii) firm's sales ranking in the industry. As a result, large but inefficient firms tended to acquire more technologies before the deregulation. Despite such screening process, the technology acquisition policy did not result in a serious failure. The firms that acquired technology grew much faster than those did not during the regulation period.

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Bibliographic Info

Paper provided by CIRJE, Faculty of Economics, University of Tokyo in its series CIRJE F-Series with number CIRJE-F-274.

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Length: 25 pages
Date of creation: Apr 2004
Date of revision:
Handle: RePEc:tky:fseres:2004cf274

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  1. Bernard, Andrew B. & Bradford Jensen, J., 1999. "Exceptional exporter performance: cause, effect, or both?," Journal of International Economics, Elsevier, vol. 47(1), pages 1-25, February.
  2. Cohen, Wesley M & Levinthal, Daniel A, 1989. "Innovation and Learning: The Two Faces of R&D," Economic Journal, Royal Economic Society, vol. 99(397), pages 569-96, September.
  3. Noland, Marcus, 1993. "The Impact of Industrial Policy on Japan's Trade Specialization," The Review of Economics and Statistics, MIT Press, vol. 75(2), pages 241-48, May.
  4. Roberts, Mark J & Tybout, James R, 1997. "The Decision to Export in Colombia: An Empirical Model of Entry with Sunk Costs," American Economic Review, American Economic Association, vol. 87(4), pages 545-64, September.
  5. Branstetter, Lee & Sakakibara, Mariko, 1998. "Japanese Research Consortia: A Microeconometric Analysis of Industrial Policy," Journal of Industrial Economics, Wiley Blackwell, vol. 46(2), pages 207-33, June.
  6. Horiuchi Akiyoshi & Sui Qing-yuan, 1993. "Influence of the Japan Development Bank Loans on Corporate Investment Behavior," Journal of the Japanese and International Economies, Elsevier, vol. 7(4), pages 441-465, December.
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