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Author: Steven J. Ericson
Publisher: Cornell University Press
ISBN: 1501746936
Category : History
Languages : en
Pages : 146
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Book Description
With a new look at the 1880s financial reforms in Japan, Steven J. Ericson's Financial Stabilization in Meiji Japan overturns widely held views of the program carried out by Finance Minister Matsukata Masayoshi. As Ericson shows, rather than constituting an orthodox financial-stabilization program—a sort of precursor of the "neoliberal" reforms promoted by the IMF in the 1980s and 1990s—Matsukata's policies differed in significant ways from both classical economic liberalism and neoliberal orthodoxy. The Matsukata financial reform has become famous largely for the wrong reasons, and Ericson sets the record straight. He shows that Matsukata intended to pursue fiscal retrenchment and budget-balancing when he became finance minister in late 1881. Various exigencies, including foreign military crises and a worsening domestic depression, compelled him instead to increase spending by running deficits and floating public bonds. Though he drastically reduced the money supply, he combined the positive and contractionary policies of his immediate predecessors to pull off a program of "expansionary austerity" paralleling state responses to financial crisis elsewhere in the world both then and now. Through a new and much-needed recalibration of this pivotal financial reform, Financial Stabilization in Meiji Japan demonstrates that, in several ways, ranging from state-led export promotion to the creation of a government-controlled central bank, Matsukata advanced policies that were more in line with a nationalist, developmentalist approach than with a liberal economic one. Ericson shows that Matsukata Masayoshi was far from a rigid adherent of classical economic liberalism.
Author: Steven J. Ericson
Publisher: Cornell University Press
ISBN: 1501746936
Category : History
Languages : en
Pages : 146
Get Book Here
Book Description
With a new look at the 1880s financial reforms in Japan, Steven J. Ericson's Financial Stabilization in Meiji Japan overturns widely held views of the program carried out by Finance Minister Matsukata Masayoshi. As Ericson shows, rather than constituting an orthodox financial-stabilization program—a sort of precursor of the "neoliberal" reforms promoted by the IMF in the 1980s and 1990s—Matsukata's policies differed in significant ways from both classical economic liberalism and neoliberal orthodoxy. The Matsukata financial reform has become famous largely for the wrong reasons, and Ericson sets the record straight. He shows that Matsukata intended to pursue fiscal retrenchment and budget-balancing when he became finance minister in late 1881. Various exigencies, including foreign military crises and a worsening domestic depression, compelled him instead to increase spending by running deficits and floating public bonds. Though he drastically reduced the money supply, he combined the positive and contractionary policies of his immediate predecessors to pull off a program of "expansionary austerity" paralleling state responses to financial crisis elsewhere in the world both then and now. Through a new and much-needed recalibration of this pivotal financial reform, Financial Stabilization in Meiji Japan demonstrates that, in several ways, ranging from state-led export promotion to the creation of a government-controlled central bank, Matsukata advanced policies that were more in line with a nationalist, developmentalist approach than with a liberal economic one. Ericson shows that Matsukata Masayoshi was far from a rigid adherent of classical economic liberalism.
Author: Bartolomé Yun-Casalilla
Publisher: Cambridge University Press
ISBN: 1107013518
Category : Business & Economics
Languages : en
Pages : 495
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Book Description
Leading economic historians present a groundbreaking series of country case studies exploring the formation of fiscal states in Eurasia.
Author: Sidney Xu Lu
Publisher: Cambridge University Press
ISBN: 1108482422
Category : History
Languages : en
Pages : 331
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Book Description
Shows how Japanese anxiety about overpopulation was used to justify expansion, blurring lines between migration and settler colonialism. This title is also available as Open Access.
Author: Flandreau Marc
Publisher: OECD Publishing
ISBN: 9264015361
Category :
Languages : en
Pages : 148
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Book Description
This book traces the roots of global financial integration in the first “modern” era of globalisation from 1880 to 1913 and can serve as a valuable tool to current-day policy dilemmas by using historical data to see which policies in the past led to enhanced international financing for development.
Author: Magnus Blomström
Publisher: Routledge
ISBN: 113418056X
Category : Business & Economics
Languages : en
Pages : 415
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Book Description
This is a new analysis of recent changes in important Japanese institutions. It addresses the origin, development, and recent adaptation of core institutions, including financial institutions, corporate governance, lifetime employment, and the amakudari system. After four decades of rapid economic growth in Japan, the 1990s saw the country enter a prolonged period of economic stagnation. Policy reforms were initially half-hearted, and businesses were slow to restructure as the global economy changed. The lagging economy has been impervious to aggressive fiscal stimulus measures and has been plagued by ongoing price deflation for years. Japan’s struggle has called into question the ability of the country’s economic institutions, originally designed to support factor accumulation and rapid development, to adapt to the new economic environment of the twenty-first century. This book discusses both historical and international comparisons including Meiji Japan, and recent economic and financial reforms in Korea, Scandinavia, Switzerland, and New Zealand, placing the current institutional changes in perspective. The contributors argue that, contrary to conventional wisdom that Japanese institutions have remained relatively rigid, there has been significant institutional change over the last decade.
Author: Tor Jacobson
Publisher:
ISBN: 1107193109
Category : Business & Economics
Languages : en
Pages : 527
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Book Description
Offers a comprehensive analysis of the historical experiences of monetary policymaking of the world's largest central banks. Written in celebration of the 350th anniversary of the central bank of Sweden, Sveriges Riksbank. Includes chapters on other banks around the world written by leading economic scholars.
Author: Amy King
Publisher: Cambridge University Press
ISBN: 1316668517
Category : History
Languages : en
Pages :
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Book Description
A rich empirical account of China's foreign economic policy towards Japan after World War Two, drawing on hundreds of recently declassified Chinese sources. Amy King offers an innovative conceptual framework for the role of ideas in shaping foreign policy, and examines how China's Communist leaders conceived of Japan after the war. The book shows how Japan became China's most important economic partner in 1971, despite the recent history of war and the ongoing Cold War divide between the two countries. It explains that China's Communist leaders saw Japan as a symbol of a modern, industrialised nation, and Japanese goods, technology and expertise as crucial in strengthening China's economy and military. For China and Japan, the years between 1949 and 1971 were not simply a moment disrupted by the Cold War, but rather an important moment of non-Western modernisation stemming from the legacy of Japanese empire, industry and war in China.
Author: Marius B. Jansen
Publisher: Harvard University Press
ISBN: 0674039106
Category : History
Languages : en
Pages : 933
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Book Description
Magisterial in vision, sweeping in scope, this monumental work presents a seamless account of Japanese society during the modern era, from 1600 to the present. A distillation of more than fifty years’ engagement with Japan and its history, it is the crowning work of our leading interpreter of the modern Japanese experience. Since 1600 Japan has undergone three periods of wrenching social and institutional change, following the imposition of hegemonic order on feudal society by the Tokugawa shogun; the opening of Japan’s ports by Commodore Perry; and defeat in World War II. The Making of Modern Japan charts these changes: the social engineering begun with the founding of the shogunate in 1600, the emergence of village and castle towns with consumer populations, and the diffusion of samurai values in the culture. Marius Jansen covers the making of the modern state, the adaptation of Western models, growing international trade, the broadening opportunity in Japanese society with industrialization, and the postwar occupation reforms imposed by General MacArthur. Throughout, the book gives voice to the individuals and views that have shaped the actions and beliefs of the Japanese, with writers, artists, and thinkers, as well as political leaders given their due. The story this book tells, though marked by profound changes, is also one of remarkable consistency, in which continuities outweigh upheavals in the development of society, and successive waves of outside influence have only served to strengthen a sense of what is unique and native to Japanese experience. The Making of Modern Japan takes us to the core of this experience as it illuminates one of the contemporary world’s most compelling transformations.
Author: Commission on Growth and Development
Publisher: World Bank Publications
ISBN: 0821374923
Category : Business & Economics
Languages : en
Pages : 198
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Book Description
The result of two years work by 19 experienced policymakers and two Nobel prize-winning economists, 'The Growth Report' is the most complete analysis to date of the ingredients which, if used in the right country-specific recipe, can deliver growth and help lift populations out of poverty.
Author: Ippei Yamazawa
Publisher: Resource Systems Institute East West Center
ISBN:
Category : Business & Economics
Languages : en
Pages : 298
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Book Description
In a direct and easy-to-use style, the Savvy Savings Guide series offers financial advice for both your personal and professional life. With each new book, readers learn how to earn more, spend less, and save for important events such as retirement and your child's college education. From paying less on your taxes to starting a small business the Savvy Savings Guide series seeks to help you save money and succeed.
