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THE CHARACTERISTICS OF FINANCE IN THE MEIJI PERIOD (THE PERIOD OF TAKE‐OFF)
Author(s) -
ASAKURA KŌKICHI
Publication year - 1967
Publication title -
the developing economies
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.305
H-Index - 30
eISSN - 1746-1049
pISSN - 0012-1533
DOI - 10.1111/j.1746-1049.1967.tb00500.x
Subject(s) - meiji period , period (music) , finance , productivity , capital (architecture) , economics , business , financial system , economic growth , history , ancient history , physics , acoustics
The financiers and merchants had accumulated enormous amounts of capital by the end of the Tokugawa period. The finance of the Meiji period remained in the hands of these men hence reflected to a great extent a pre‐modern type of finance. Furthermore, the fact that the financial sector was able to contribute to increases in productivity and to become one factor in providing a base for economic take‐off may be attributed to financing carried out on the profitable and safe security of landed property. This type of credit is a special characteristic of Japanese finance, and has been one of the factors sustaining the recent high rate of economic growth.