The Divergence Between China and Japan

Qing-yuan Sui ()
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Qing-yuan Sui: Yokohama City University

Chapter Chapter 3 in Money and Government, 2022, pp 29-67 from Springer

Abstract: Abstract In this chapter, I perform a qualitative and quantitative comparison of the monetary regime between China and Japan. Then, I ask and try to answer why the modernization of money succeeded in a relatively short period in Japan but not in China. The differences in motivations to reform monetary standard and state capacities to enforce the laws are crucial to explain the time gap of the emergence of monetary uniform between these two countries. The concept of spontaneous orderSpontaneous order is not helpful in explain this difference and is not appropriate for a catching-up country.

Keywords: Monetary regime; Differences between China and Japan; Meiji Restoration; Spontaneous order; Monetary unification; State capacity (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:spbchp:978-981-16-8874-4_3

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DOI: 10.1007/978-981-16-8874-4_3

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