 Heavy Industrial Giants: Steel, Machine Tools, and AutomobilesWilliam R. Nester
Chapter 4 in Japanese Industrial Targeting, 1991, pp 79-118 from Palgrave Macmillan Abstract: Abstract Japan is the world’s leading producer of steel, machine-tools, and automobiles. By the early 1950s, Tokyo had targeted all three for development as strategic industries, and over the next four decades nurtured them with a range of subsidies, cartels, technology infusions, cheap loans, import barriers, and export incentives. None of these industries would have survived had they been exposed to free-market forces — American and European producers held a comparative advantage in all three industries up through the mid-1960s and would have wiped out their struggling Japanese rivals. However, the success of these industrial policies varied widely, with those targeting steel and automobiles being remarkable successes while those promoting the machine-tool industry had a limited effect — machine-tools is one of Japan’s few industries whose success depended as much on entrepreneurship as cartels, government handouts, and import barriers. Keywords: Machine Tool; Motor Vehicle; Industrial Policy; Japanese Firm; Machinery Industry (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-21284-2_5 Ordering information: This item can be ordered from DOI: 10.1007/978-1-349-21284-2_5 Access Statistics for this chapter More chapters in Palgrave Macmillan Books from Palgrave Macmillan |
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