The learning process and the market: the Japanese capital goods sector in the early twentieth century

Professor Tetsuro Nakaoka, formerly of Osaka University, and now of the Faculty of Management, Osaka University of Economics, gave a seminar on Japanese industrial development at the Suntory-Toyota Centre during 1992. Although it was not possible to publish that paper as a STICERD discussion paper, we are extremely grateful to Professor Nakaoka for allowing us to reproduce the present paper. STICERD would also like to express thanks to Dr K Sugihara of the School of Oriental and African Studies, University of London, for assistance with the English version of the paper