IDEAS home Printed from https://ideas.repec.org/a/mes/jpneco/v29y2001i1p48-86.html
   My bibliography  Save this article

Restructuring the Ministry of Finance and Revising the Bank of Japan Law

Author

Listed:
  • Toru Nakakita

Abstract

The Bank of Japan was established as a central bank and a monopolist issuer of bank notes according to the Bank of Japan Act enacted in 1882. At that time, hyperinflation raged, along with the 1877 Civil War (Southwest Rebellion), as the Meiji government had issued large amounts of inconvertible paper money to pay for the war. In addition, more than a hundred national banks issued their own bank notes. Under these circumstances, Masayoshi Matsukata, the minister of finance at the time, tried to quiet down inflation by setting up a central bank that issued central-bank notes supported by the specie and so established a modern credit system centering on a central bank.

Suggested Citation

  • Toru Nakakita, 2001. "Restructuring the Ministry of Finance and Revising the Bank of Japan Law," Japanese Economy, Taylor & Francis Journals, vol. 29(1), pages 48-86.
    • Handle: RePEc:mes:jpneco:v:29:y:2001:i:1:p:48-86
    DOI: 10.2753/JES1097-203X290148
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.2753/JES1097-203X290148
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.2753/JES1097-203X290148?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Singleton,John, 2010. "Central Banking in the Twentieth Century," Cambridge Books, Cambridge University Press, number 9780521899093, September.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:mes:jpneco:v:29:y:2001:i:1:p:48-86. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/MJES19 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.