Imposed Efficiency of Treaty Port: Japanese Industrialization and Western Imperialist Institutions
Masaki Nakabayashi ()
No f142, ISS Discussion Paper Series (series F) from Institute of Social Science, The University of Tokyo
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.
Keywords: international trade; institutions, economic openness; treaty port; empire effect (search for similar items in EconPapers)
JEL-codes: O19 F14 N75 (search for similar items in EconPapers)
Date: 2008-11-01, Revised 2012-06-15
Note: Data are included.
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Published in the Review of Development Economics, 18(2), May 2014, 254-271.
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Persistent link: http://EconPapers.repec.org/RePEc:itk:issdps:f142
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