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The IMF and Japan: Liberalization of Foreign Exchange and Pursuit of High Growth

In: History of the IMF

Author

Listed:
  • Yoshio Asai

    (Seijo University)

Abstract

Japan joined the IMF in August 1952, 8 years after the Bretton Woods Conference. Germany joined the IMF in that same month. About 12 years later, in April 1964, Japan’s status shifted to that of an IMF Article VIII nation. The leading Western European member states already had acceded to Article VIII status 3 years earlier. While under Article XIV status, Japan had borrowed funds from the IMF in 1953 and 1957 and concluded standby line of credit agreements in 1962 and 1964, but since acceding to Article VIII status it has not borrowed from the IMF once. Japan’s shift to Article VIII status was carried out when the time was fully ripe.

Suggested Citation

  • Yoshio Asai, 2015. "The IMF and Japan: Liberalization of Foreign Exchange and Pursuit of High Growth," Studies in Economic History, in: Kazuhiko Yago & Yoshio Asai & Masanao Itoh (ed.), History of the IMF, edition 127, chapter 0, pages 249-273, Springer.
    • Handle: RePEc:spr:stechp:978-4-431-55351-9_12
    DOI: 10.1007/978-4-431-55351-9_12
    as

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