IDEAS home Printed from https://ideas.repec.org/p/gla/glaewp/2007_17.html
   My bibliography  Save this paper

Financial Transition in Pre-World War II Japan and Southeast Asia

Author

Listed:
  • Gregg Huff

Abstract

This article compares Japan and Southeast Asia before the Second World War to explore the question Goldsmith posed: why, since financial transition in all countries follows the same path, should there be such remarkable differences in the speed of transition? Beginning after the Meiji Restoration in 1868 and starting from the same per capita income as Southeast Asian countries, Japan had, by 1913, built a modern financial system comparable to those in the West. But finance in Southeast Asian countries was (and remained in 1939) little developed, dominated by metropolitan interests, heavily reliant on informal finance, and geared towards primary commodity exports. The article argues that Southeast Asia's no more than partial financial transition is explained by a continued ability to tap natural resources, limited technological change, and the laissez-faire stance of colonial governments. Japan, by contrast, could not depend on abundant resources for growth. Its experience demonstrates how nationalist objectives of military power and industrialisation can motivate government to accelerate financial transition

Suggested Citation

  • Gregg Huff, 2007. "Financial Transition in Pre-World War II Japan and Southeast Asia," Working Papers 2007_17, Business School - Economics, University of Glasgow.
  • Handle: RePEc:gla:glaewp:2007_17
    as

    Download full text from publisher

    File URL: http://www.gla.ac.uk/media/media_33617_en.pdf
    Download Restriction: no
    ---><---

    Other versions of this item:

    Citations

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


    Cited by:

    1. Gregg Huff, 2007. "Globalization, Natural Resources and Foreign Investment: A View from the Resource-Rich Tropics," Working Papers 2007_16, Business School - Economics, University of Glasgow.

    More about this item

    NEP fields

    This paper has been announced in the following NEP Reports:

    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:gla:glaewp:2007_17. 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: Business School Research Team (email available below). General contact details of provider: https://edirc.repec.org/data/dpglauk.html .

    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.