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The Impact of Industrial Policy on Japan's Trade Specialization

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  • Noland, Marcus

Abstract

Recent research has demonstrated the possibility of welfare-enhancing industrial policy. This paper analyzes the impact of industrial policy on Japan's trade pattern and explores the possibility that it has been welfare-enhancing. Econometric results indicate that industrial policies have had an impact on Japan's trade specialization. These results are obtained contemporaneously and when the explanatory variables are lagged, suggesting either that policymakers have been forward-looking or that policy interventions have had persistent, long-lasting effects. Although some cases of successful targeting are uncovered, welfare-enhancing interventions appear to have been the exception, not the rule. Copyright 1993 by MIT Press.

Suggested Citation

  • 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 241-248, May.
    • Handle: RePEc:tpr:restat:v:75:y:1993:i:2:p:241-48
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    Cited by:

    1. Kozo Kiyota & Tetsuji Okazaki, 2004. "Foreign Technology Acquisition Policy and Firm Performance in Japan, 1957-1970: The Japanese Industrial Policy Revisited," CIRJE F-Series CIRJE-F-274, CIRJE, Faculty of Economics, University of Tokyo.
    2. Bernstein, Jeffrey R. & Weinstein, David E., 2002. "Do endowments predict the location of production?: Evidence from national and international data," Journal of International Economics, Elsevier, vol. 56(1), pages 55-76, January.
    3. Radislav Jovovic, 2005. "The Distincs Differences Between Old And Emerging Economy," Montenegrin Journal of Economics, Economic Laboratory for Transition Research (ELIT), vol. 1(1), pages 139-150.
    4. Kotabe, Masaaki & Wheiler, Kent W., 1998. "Perceptions of anticompetitive practices in Japan and the market performance of foreign firms," Journal of International Management, Elsevier, vol. 4(3), pages 173-200, November.
    5. Hatase, Mariko & Matsubayashi, Yoichi, 2019. "Does government promote or hinder capital accumulation? Evidence from Japan’s high-growth era," Structural Change and Economic Dynamics, Elsevier, vol. 49(C), pages 245-265.
    6. Ioannis Bournakis & Michela Vecchi & Francesco Venturini, 2018. "Off‐Shoring, Specialization and R&D," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 64(1), pages 26-51, March.
    7. Kozo Kiyota & Tetsuji Okazaki, 2004. "Foreign Technology Acquisition Policy and Firm Performance in Japan, 1957-1970: The Japanese Industrial Policy Revisited (Published in "International Journal of Industrial Organization", Sep," CARF F-Series CARF-F-003, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo.
    8. Hallegatte, Stephane & Fay, Marianne & Vogt-Schilb, Adrien, 2013. "Green industrial policies : when and how," Policy Research Working Paper Series 6677, The World Bank.
    9. Mariko Hatase & Yoichi Matsubayashi, 2016. "Does government promote or hinder capital accumulation? Evidence from Japan' s high-growth era," Discussion Papers 1602, Graduate School of Economics, Kobe University.
    10. Kiyota, Kozo & Okazaki, Tetsuji, 2005. "Foreign technology acquisition policy and firm performance in Japan, 1957-1970: Micro-aspects of industrial policy," International Journal of Industrial Organization, Elsevier, vol. 23(7-8), pages 563-586, September.
    11. Roesmara Donna, Duddy & Widodo, Tri & Adiningsih, Sri, 2017. "Dynamics of Trade Specialization in Middle East and North Africa (MENA)," MPRA Paper 77439, University Library of Munich, Germany.
    12. Wu, Yiyun & Zhu, Xiwei & Groenewold, Nicolaas, 2019. "The determinants and effectiveness of industrial policy in china: A study based on Five-Year Plans," China Economic Review, Elsevier, vol. 53(C), pages 225-242.

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