Abstract
This paper examines empirically how the multiple-cone version of the Heckscher-Ohlin (HO) model fits the "flying geese" patterns of industrial development: a series of industries appear, prosper, then decline and finally disappear one after another. Using Japanese manufacturing data from 1975 to 2006, the analysis shows that the multiple-cone model fits well with the flying geese patterns of Japanese industrial development. The result suggests that part of the industrial upgrading can be explained by the multiple-cone HO model. This also implies that an underlying mechanism of macroeconomic growth is industrial upgrading, part of which can be attributed to capital accumulation.
Original language | English |
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Pages (from-to) | 177-193 |
Number of pages | 17 |
Journal | Review of Development Economics |
Volume | 18 |
Issue number | 1 |
DOIs | |
Publication status | Published - 2014 Feb |
ASJC Scopus subject areas
- Geography, Planning and Development
- Development