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Railroad Expansion and Industrialization: Evidence from Meiji Japan

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  • Tang, John P.

Abstract

Railroads in late nineteenth-century Japan are credited with facilitating factor mobility as well as access to human and financial capital, but their impact on firms has been unclear. Using a prefecture-level panel data set and a difference-in-differences model that exploits the temporal and spatial variation of railroad expansion, I investigate the relationship between railways and increased firm activity. Rail access led to higher average firm capitalization, particularly in manufacturing, and more populated and less accessible areas gained disproportionately more firms. By widening markets and allowing for agglomeration economies, Japanese railways promoted capital investment and more efficient resource allocation.

Suggested Citation

  • Tang, John P., 2014. "Railroad Expansion and Industrialization: Evidence from Meiji Japan," The Journal of Economic History, Cambridge University Press, vol. 74(3), pages 863-886, September.
    • Handle: RePEc:cup:jechis:v:74:y:2014:i:03:p:863-886_00
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    JEL classification:

    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • N75 - Economic History - - Economic History: Transport, International and Domestic Trade, Energy, and Other Services - - - Asia including Middle East
    • O53 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East

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