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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.

Suggested Citation

  • 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.
  • Handle: RePEc:tky:fseres:2004cf274
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    File URL: http://www.cirje.e.u-tokyo.ac.jp/research/dp/2004/2004cf274.pdf
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    References listed on IDEAS

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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. Laura D'Andrea Tyson, 1992. "Who's Bashing Whom? Trade Conflict in High-Technology Industries," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 86.
    3. Kiyohiko G. Nishimura & Takanobu Nakajima & Kozo Kiyota, 2003. "Does Natural Selection Mechanism Still Work in Severe Recessions? -- ]Examination of the Japanese Economy in the 1990s ---," CIRJE F-Series CIRJE-F-222, CIRJE, Faculty of Economics, University of Tokyo.
    4. 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 569-596, September.
    5. 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.
    6. Branstetter, Lee & Sakakibara, Mariko, 1998. "Japanese Research Consortia: A Microeconometric Analysis of Industrial Policy," Journal of Industrial Economics, Wiley Blackwell, vol. 46(2), pages 207-233, June.
    7. Weinstein David E., 1995. "Evaluating Administrative Guidance and Cartels in Japan (1957-1988)," Journal of the Japanese and International Economies, Elsevier, vol. 9(2), pages 200-223, June.
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