Mitchener K. and Ohnuki M. (2009) Capital integration in Japan

March 15, 2009

Mitchener, Kris James and Ohnuki, Mari (2009) “Institutions, competition and capital market integration in Japan”, The Journal of Economic History, 69/1, 138-171.

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Introduction

The causal relationship between finance and economic growth makes “understanding the factors that encourage capital market development […] a key question” (p.138). Meiji-era policy-maker recognized that “the geographical mobility of capital [was] critical to allocative efficiency” and that to modernize the economy they had to forge an integrated capital market (p.139). Read the rest of this entry »

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