The Effects of the Petroleum Industry Development on the Local Economies
The similarities and differences between Niigata and Akita prefectures in terms of the way in which the petroleum industry developed and its effect on local economies are as follows: First, the main similarity was that the development of the petroleum industry played a major role in the creation of ironworks and other related industries. Then, the first difference was related to the business leaders. While companies founded by local wealthy people and entrepreneurs contributed to the development of the petroleum industry in Niigata, business enterprises run by local citizens in Akita ended in failure and companies from other prefectures that were already relatively large were the ones that caused the industry to grow. The second difference was in the supply and demand of labor. While the local labor force was absorbed in Niigata and mine workers from other prefectures were not accepted, a large number of workers immigrated to Akita from Niigata.
- Economic journal of Hokkaido University
Economic journal of Hokkaido University 39, 29-38, 2010