A test of the credibility of temporary protection: evidence from the Japanese oil industry
A test of the credibility of temporary protection: evidence from the Japanese oil industry
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临时保护可信度的检验：来自日本石油工业的证据
DOI：
10.1080/1350485042000318457
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发表时间：
2005
影响因子：
1.6
通讯作者：
U. Goto
中科院分区：
文献类型：
--
作者：
U. Goto
本文的目的是考察1986至1996年间《特定石油产品进口法》(Tokusekiho)对日本石油工业提供的临时保护政策是否可信。这一政策起到了激励竞争的作用，但它能否有效发挥作用，取决于石油行业是否认为这一政策的“暂时性”是可信的。通过衡量石油行业四家石油公司在保护期之前、期间和之后的成本结构变化，分析了该法律的有效性。研究发现，在保护期内，各企业的成本函数上移，说明激励机制不能有效发挥作用。这意味着临时保护政策缺乏可信度。
The purpose of this paper is to examine whether the temporary protection policy for the Japanese oil industry provided by the Provisional Law on Importation of Specific Petroleum Products (Tokusekiho) between 1986 and 1996 was a credible policy. This policy plays a role as an incentive device forcing competition, but whether it functions effectively depends on whether the oil industry regarded the ‘Temporariness’ of the policy as being credible. The effectiveness of the law is analysed by measuring changes in the cost structure of four oil firms in the oil industry before, during and after the period of protection. It is found that the cost function of each firm shifted upwards during the period of protection, suggesting that the incentives did not work effectively. This implies that the temporary protection policy lacked credibility.