2006 Fiscal Year Final Research Report Summary
An Analysis of the Effect on Welfare and Growth of Domestic Market Structure and Trade Policy
| Project/Area Number |
15530126
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| Research Category |
Grant-in-Aid for Scientific Research (C)
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| Allocation Type | Single-year Grants |
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| Section | 一般 |
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| Research Field |
Economic theory
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| Research Institution | Keio University |
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Principal Investigator |
YANO Makoto Keio University, Economics, Professor, 経済学部, 教授 (30191175)
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| Co-Investigator(Kenkyū-buntansha) |
DEI Fumio Kobe University, Business Administration, Professor, 経営学部, 教授 (90093541)
SHIRAI Yoshimasa Keio University, Economics, Assistant Professor, 経済学部, 助教授 (00235730)
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| Project Period (FY) |
2003 – 2006
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| Keywords | competition policy / international trade / international finance / network externalities / dumping / legal systems / capital formation / market quality |
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| Research Abstract |
This four-year research project is on various effects on international trade and capital formation of a country's market organization, rules, and laws on markets. Those effects have been analyzed by both theoretical and empirical methods. Through the research, a large number of papers (21 English and 6 Japanese language papers) has been published mainly in international academic journals.
The main findings of the research are as follows : (1) In a vertical-chain model of international trade that is equipped with an upstream market for tradables and a downstream market for non-tradable services, suppression of competition in the downstream market can create an effect similar to the imposition of a tariff. Moreover, the impact of that policy can be practically equivalent to that of a tariff policy. (2) In the presence of network externalities that appear in association with the introduction of a new product, a new firm may sell at a price below its marginal cost. This result, applied to international trade, gives the first serious theoretical explanation to what is called marginal cost dumping in the policy literature. (3) Competition in a domestic market is crucially affected by a country's domestic rules and laws on market, which significantly influence capital formation in that country.
A message from these studies is that rules and laws on markets have significant impacts on the function of a market, either international or domestic. In particular, the studies have revealed the importance of an analysis of market mechanism from the viewpoint of what I call market quality, which may provide a totally new theoretical foundation for microeconomics.
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Research Products
(55 results)
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[Journal Article] M＆A Law2007
Author(s)
M.Yano
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Journal Title
Law and Economics (University of Tokyo Press)
Pages: 121-139
Description
「研究成果報告書概要(欧文)」より
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[Book] 法と経済学2007
Author(s)
矢野 誠編・著
Total Pages
283
Publisher
東京大学出版会
Description
「研究成果報告書概要(和文)」より
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