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Market-Based Financing for Small Corporations during Early Industrialisation: The Case of Salt Corporations in Japan, 1880s-1910s

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  • Kiyotaka Maeda

    (Department of Japanese History, Faculty of Letters, Keio University)

Abstract

This study investigates how small corporations in rural areas arranged funds and reassesses the role of market-based financing for Japanese small and medium-sized enterprises from the 1880s through the 1910s. Whereas previous studies have focused on the financing of large corporations in urban areas, this paper argues that corporations of various sizes, including small ones in rural areas, arranged their funds from the stock market during Japan's industrialisation. By applying this style of financial arrangement, these corporations expanded their production scales, accelerating the local formation of specialised producing regions and boosting the regional economy.

Suggested Citation

  • Kiyotaka Maeda, 2019. "Market-Based Financing for Small Corporations during Early Industrialisation: The Case of Salt Corporations in Japan, 1880s-1910s," Keio-IES Discussion Paper Series 2019-019, Institute for Economics Studies, Keio University.
    • Handle: RePEc:keo:dpaper:2019-019
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    References listed on IDEAS

    as
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    More about this item

    Keywords

    market-based financing; industrialisation; small and medium-sized enterprises (SMEs); over-the-counter market; salt industry;
    All these keywords.

    JEL classification:

    • N15 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Asia including Middle East
    • N25 - Economic History - - Financial Markets and Institutions - - - Asia including Middle East
    • N85 - Economic History - - Micro-Business History - - - Asia including Middle East

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