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U.S. EXPERIENCE IN JAPAN''S BANKING SYSTEM DEVELOPMENT IN THE MEIJI ERA (1868-1912)
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U.S. EXPERIENCE IN JAPAN''S BANKING SYSTEM DEVELOPMENT IN THE MEIJI ERA (1868-1912)
Annotation
PII
S268667300000616-7-1
Publication type
Article
Status
Published
Authors
Olesya Emel'yanova 
Edition
Issue 6 (582)
Pages
98-113
Abstract
The basis offinancial system in Japan was created in process of extreme transformation of economic formation in the Meiji era (1868-1912). As in other aspects of economic reform in Japan, the government decided to take advantage of foreign experience and adapt successful foreign practices in its own country, taking into account the specific Japanese conditions of economic development. At first, attention was paid to the U.S. financial system. It was based on a network of private banks, which allowed accumulating private capital of the population, which would have been much more difficult with the system of state banks. However the American model did not take root in Japan, and it was decided to switch to the British financial system. The problems were related to the peculiarities of the implementation of the American model on the Japanese soil, which caused the overflow of unsecured liquidity. Thus, inflation in Japan in the second half of the 1870s, resulting in rejection of the American model of the banking system, was caused by the Japanese government mistakes in financial management and not by devolved model of the U.S. banking system.
Keywords
Japanese financial system, Meiji era, American financial system, mistakes of Japanese government
Date of publication
09.06.2018
Number of purchasers
8
Views
953
Readers community rating
0.0 (0 votes)
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