Introduction: The Development of International Banking in Asia

Ayumu Sugawara () and Takeshi Nishimura ()
Additional contact information
Ayumu Sugawara: Tohoku University
Takeshi Nishimura: Kansai University

Chapter Chapter 1 in The Development of International Banking in Asia, 2020, pp 1-24 from Springer

Abstract: Abstract To provide an understanding of financial globalisation from a historical viewpoint, this volume sheds light on international banking in Asia before the Second World War. International banking facilitated the relationship between Asian economic development and international financial centres. In this introductory chapter, Sect. 1 provides a summary of the history of intra-Asian trade. Section 2 conducts a literature review on the history of international banking. Section 3 reviews the chapters in this volume. Section 4 presents a historical perspective on the development of international banking in Asia derived from this volume. From the 1870s onward, intra-Asian trade grew faster than the trade of other regions or global trade. This provided plenty of opportunities for international banks in Asia. Until 1913, such banks were from industrialised nations such as the UK, France, Germany, and Japan. Although trade within Asia and the wide variety of nationalities of international banks providing trade finance in Asia were highly important, such finance heavily depended on pound sterling bills of exchange on London and the financial markets there. After the First World War, indigenous banks, especially from China, also started entry into international banking in Asia. However, British banks like HSBC kept their leadership in Asian international finance. This historical context is still reflected in current Asian international finance such as syndicated loans.

Keywords: International banking; Asia; Intra-Asian trade; Trade finance; Bills of exchange (search for similar items in EconPapers)
Date: 2020
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:stechp:978-4-431-55615-2_1

Ordering information: This item can be ordered from
http://www.springer.com/9784431556152

DOI: 10.1007/978-4-431-55615-2_1

Access Statistics for this chapter

More chapters in Studies in Economic History from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().