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The Sectoral Flow of Funds in Pre-War Japan: a Reconsideration

In: The Balance between Industry and Agriculture in Economic Development

Author

Listed:
  • Juro Teranishi

    (Tokyo)

Abstract

There is a popular conventional view which suggests that agricultural surplus played a significant role in the financing of pre-war Japanese industrialisation. An attempt to examine this proposition from the viewpoint of modern economic theory was first undertaken by Ishikawa (1967). Inspired by his pioneering work, I renewed investigations through a direct estimation of the flow of financial assets and liabilities between the sectors during 1898–1939, concluding that there was no evidence to support the conventional view (Teranishi, 1976).

Suggested Citation

  • Juro Teranishi, 1989. "The Sectoral Flow of Funds in Pre-War Japan: a Reconsideration," International Economic Association Series, in: Sukhamoy Chakravarty (ed.), The Balance between Industry and Agriculture in Economic Development, chapter 7, pages 146-168, Palgrave Macmillan.
  • Handle: RePEc:pal:intecp:978-1-349-10274-7_7
    DOI: 10.1007/978-1-349-10274-7_7
    as

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