(horizontal differentiation). The market context is Japan's cotton spinning industry at the turn of the last century. We find that …

evidence that Japan exported low quality manufactured goods to new, low-income destinations. Instead, reductions in trade costs … helped Japan augment market share. Exit is relatively rare but appears to be determined by market-specific demand …

Japan's successful industrialization in the late 19th and early 20th century largely exhausted its then abundant … natural resources. Rather than exemplifying rapid development in the absence of natural resources, Japan shows how laissez … resources curse that undermined its prior state-led industrialization strategy. Japan's post-WWII reconstruction relied little …