Trade and Industrial Organization: Japanese Ammonium Sulphate Industry in the Interwar Period

Anil Khosla

Discussion Paper Series from Institute of Economic Research, Hitotsubashi University

Abstract: Trade is considered an effective antidote to the exercise of domestic market power. This paper, through an analysis of the structure, conduct and performance of the Japanese ammonium sulphate industry during the interwar period shows that trade is not always a sufficient condition for domestic markets to become competitive. In industries exhibiting substantial economies of scale, availability and diffusion of technology, existence of surplus international capacity and the ability of domestic producers to deter imports can impede instantaneous adjustment of international supply to imbalances in demand and supply thereby allowing domestic producers to exercise their market power.

Date: 2004-10
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Persistent link: https://EconPapers.repec.org/RePEc:hit:hituec:a459

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