The institutional aspects of the Dojima rice exchange market in Tokugawa era: The role of governance mechanism

Yasuo Takatsuki

No 07-44-Rev, Discussion Papers in Economics and Business from Osaka University, Graduate School of Economics

Abstract: This paper examines the institutional aspects of the Dojima rice exchange market. Especially, the role of governance mechanism was focused on. It is well known that the Dojima rice exchange market was established in 1730 in Osaka, and closed in 1869 due to the collapse of Tokugawa Shogunate. In addition, it had already been shown that there existed the institution of trades in Dojima. However, the most signifficant question: How did it evolve, and how did it assure the "safe" and "smooth" trades, remains to be unanswered. To answer the question, this paper focuses on three points; that is i) property right, ii) freedom of contracts, iii) liquidity of the market. Through the empirical analyses, it was shown that the futures trades in Dojima rice exchange maket had been evolved, exactly for the purpose of satisfying these three points.

Keywords: Japanese Economic History; The Dojima Rice Exchange Market; The futures Trades (search for similar items in EconPapers)
JEL-codes: G13 G28 N25 (search for similar items in EconPapers)
Pages: 36 pages
Date: 2007-12, Revised 2008-02
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/0744R.pdf (application/pdf)

Related works:
Working Paper: The institutional aspects of the Dojima rice exchange market in Tokugawa era: The role of governance mechanism (2007)
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:0744r

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 ().