Japan's welfare gains through globalization: An evidence from Japan's manufacturing sector

Tadashi Ito and Toshiyuki Matsuura
Additional contact information
Tadashi Ito: Faculty of International Social Science, Gakushuin University

No 2017-002, Keio-IES Discussion Paper Series from Institute for Economics Studies, Keio University

Abstract: Welfare gain through international trade is a cornerstone of international economics literature. However, it is only recently that the data and the methodologies become available to empirically assess such welfare gain. Building on the recently developed methodologies of estimating elasticity of substitution and computing welfare gains from trade, we estimate welfare gains of Japan from its trade liberalization in manufacturing sector. To do this as precisely as possible, the elasticities of substitution for HS 9-digit product code are estimated for various periods of time. The analyses show that Japan's welfare gains from trade liberalization took place especially from the 1990s, and reached eleven percent vis-a-vis the autarky situation.

Keywords: Trade Liberalization; Welfare gains; Japan (search for similar items in EconPapers)
JEL-codes: F14 (search for similar items in EconPapers)
Pages: 18 pages
Date: 2017-01-14
New Economics Papers: this item is included in nep-his, nep-int and nep-tid
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://ies.keio.ac.jp/upload/pdf/en/DP2017-002.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:keo:dpaper:2017-002

Access Statistics for this paper

More papers in Keio-IES Discussion Paper Series from Institute for Economics Studies, Keio University Contact information at EDIRC.
Bibliographic data for series maintained by Institute for Economics Studies, Keio University ().