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EBPM研究会と共催（登録者のみ参加可能）

EBPM研究会と共催（登録者のみ参加可能）

joint with Seminar in Economic Theory @ Yonsei University

joint with Seminar in Economic Theory @ Yonsei University

joint with Seminar in Economic Theory @ Yonsei University

要旨：This paper explores how political, social, and economic regime changes affect the lifecycles of manufacturing plants, exploiting Japan’s transition from a feudal regime to a modern regime in the late nineteenth century as a natural experiment. Using plant-level data for 1902, including the foundation year of each plant, we explored how the experience years-size profiles of plants differ before and after the regime change. Plants were found to grow much faster after the regime change, and the acceleration of growth after the regime change was much greater for the plants in exporting industries and industries intensively using steam power. These findings suggest that access to markets and access to modern technologies were the channels through which the regime change affected the experience years-size profile of plants. Furthermore, long-term historical data and narratives on two plants support the results. We also present evidence on how the life-cycle size growth differs across space.