The rice price co-movement in Tokugawa Japan

Yasuo Takatsuki

No 07-21, Discussion Papers in Economics and Business from Osaka University, Graduate School of Economics

Abstract: This paper examines the rice price co-movement in Tokugawa Japan, especially between the the Dojima Rice Market established in 1730 and the rice market in Otsu established in 1735. Both markets were representative rice markets in Tokugawa period Japan. Before applying the empirical analyses, this paper first introduces the daily price index constructed from the original historical document, gYorozu Souba Nikki (Daily memorandum of commodity price indices), h written by the contemporary rice merchant who dealt in the rice trades. From this memorandum, we can construct the daily price index both in the futures and the spot market during the period from 1798 to 1856. Based on this price index, the Grager causality tests were conducted, and it is shown that, during the period from 1798 to 1818, the prices in the Dojima were reflected in the prices in Otsu by the next day, and during the period from 1840 to 1864, the prices in Dojima were reflected in the prices in Otsu on the same day.

JEL-codes: G14 L11 N25 (search for similar items in EconPapers)
Pages: 26 pages
Date: 2007-06
New Economics Papers: this item is included in nep-his
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www2.econ.osaka-u.ac.jp/library/global/dp/0721.pdf (application/pdf)

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:osk:wpaper:0721

Access Statistics for this paper

More papers in Discussion Papers in Economics and Business from Osaka University, Graduate School of Economics Contact information at EDIRC.
Bibliographic data for series maintained by The Economic Society of Osaka University ().