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Financial Policy and Economic Development, 1897–1937

In: Japan’s Economic Policy

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  • G. C. Allen

    (University of London)

Abstract

From the early years of Japan’s modernisation her leaders showed a firm grasp of the functions of a well-wrought financial system in economic development. The architect of the Japanese system was Count (afterwards Prince) Matsukata who presided over the country’s finances during the last two decades of the nineteenth century. The survey in this chapter, which begins at the time when his work was almost complete, follows the course of financial events and policies from the adoption of the gold standard in 1897 to the ‘China Incident’ of 1937. The aim is not, of course, to present a comprehensive history of Japan’s banking and monetary system but to analyse what can be identified as the most significant features of the financial policy from the standpoint of its contribution to economic development.

Suggested Citation

  • G. C. Allen, 1980. "Financial Policy and Economic Development, 1897–1937," Palgrave Macmillan Books, in: Japan’s Economic Policy, chapter 2, pages 20-45, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-04515-0_2
    DOI: 10.1007/978-1-349-04515-0_2
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