Imposed Efficiency of Treaty Port: Japanese Industrialization and Western Imperialist Institutions
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.
|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.|
|Note:||Data are included.|
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