German Banking and Japanese Banking: A Comparative Analysis
Hugh M. Neuburger and
Houston Stokes ()
The Journal of Economic History, 1975, vol. 35, issue 1, 238-252
Wherever there are banks there are arguments about the macro-economic effects of banking policy. One of the best theoretical formulations of the effect of German banking on German development appears in Alexander Gerschenkron's â€œEconomic Backwardness in Historical Perspectiveâ€ and â€œReflections on the Concept of Prerequisites of Modern Industrialization.â€ This problem is given an empirical treatment in â€œGerman Banks and German Growth, 1883â€“1913: An Empirical View,â€ by Hugh Neuburger and Houston H. Stokes. Our intention in this paper is to test further our previous findings and to contrast our findings for Germany with those for post-World War II Japan. While the two situations are not entirely comparable they are similar enough to make such a comparison worthwhile.
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