The Sectoral Flow of Funds in Pre-War Japan: a Reconsideration

Juro Teranishi
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Juro Teranishi: Tokyo

Chapter 7 in The Balance between Industry and Agriculture in Economic Development, 1989, pp 146-168 from Palgrave Macmillan

Abstract: Abstract There is a popular conventional view which suggests that agricultural surplus played a significant role in the financing of pre-war Japanese industrialisation. An attempt to examine this proposition from the viewpoint of modern economic theory was first undertaken by Ishikawa (1967). Inspired by his pioneering work, I renewed investigations through a direct estimation of the flow of financial assets and liabilities between the sectors during 1898–1939, concluding that there was no evidence to support the conventional view (Teranishi, 1976).

Keywords: Agricultural Sector; Financial Asset; Sectoral Flow; Resource Transfer; Fixed Capital Formation (search for similar items in EconPapers)
Date: 1989
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Persistent link: https://EconPapers.repec.org/RePEc:pal:intecp:978-1-349-10274-7_7

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DOI: 10.1007/978-1-349-10274-7_7

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