Railroad Expansion and Industrialization: Evidence from Meiji Japan

  title={Railroad Expansion and Industrialization: Evidence from Meiji Japan},
  author={John P. Tang},
  journal={The Journal of Economic History},
  pages={863 - 886}
  • John P. Tang
  • Published 29 August 2014
  • Economics
  • The Journal of Economic History
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… 

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