Meiji Japan's Mass Privatization and Subsequent Growth
View metadata, citation and similar papers at core.ac.uk brought to you by CORE provided by Research Papers in Economics NBER WORKING PAPER SERIES BUSINESS GROUPS AND THE BIG PUSH: MEIJI JAPAN'S MASS PRIVATIZATION AND SUBSEQUENT GROWTH Randall Morck Masao Nakamura Working Paper 13171 http://www.nber.org/papers/w13171 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 June 2007 We are grateful for helpful comments and suggestions from participants in the Society for the Advancement of Socio-Economics 2006 conference in Trier, Germany, from Caroline Fohlin, Juro Teranishi, Yupana Wiwattanakantang and Bernard Yeung; and especially from Gary Herrigel Kenneth Lipartito, and two anonymous referees. Support from the Social Sciences and Humanities Research Council is gratefully acknowledged. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research. © 2007 by Randall Morck and Masao Nakamura. All rights reserved. Short sections of text, not to exceed two paragraphs, may be quoted without explicit permission provided that full credit, including © notice, is given to the source. Business Groups and the Big Push: Meiji Japan's Mass Privatization and Subsequent Growth Randall Morck and Masao Nakamura NBER Working Paper No. 13171 June 2007, Revised July 2007 JEL No. G3,L23,L25,N15,N25,O14,O16,O19,O2,O21,O25,O38,O53,P1,P11,P12 ABSTRACT Rosenstein-Rodan (1943) and others posit that rapid development requires a 'big push' -- the coordinated rapid growth of diverse complementary industries, and suggests a role for government in providing such coordination.
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