How did Japan enter the world markets during the first age of globalisation..

Interesting research by Profs. Christopher Meissner, John Tang

Economists have long been interested in the dynamics of comparative advantage, but have only recently begun to use detailed product-level data in their analysis. This column examines the Japanese experience after the liberalisation of the 1850s. It suggests that trade costs, destination market demand conditions, and product specific factors played key roles in Japanese exports growth. Roughly 30% of growth in exports between 1880 and 1910 came from shipping new goods to new countries, selling new goods to extant trade partners, and introducing existing products to new countries.

Even during early 20th century, Japan was thinking of entering international markets via new products, new markets and so on. Fascinating..

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: