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The evolution of Adam Smith's Theory of Banking

Research Project

Project/Area Number 13630011
Research Category

Grant-in-Aid for Scientific Research (C)

Allocation TypeSingle-year Grants
Section一般
Research Field 経済理論
Research InstitutionOkayama University

Principal Investigator

NIIMURA Satoshi  Okayama University, Economics, Professor, 経済学部, 教授 (00167561)

Project Period (FY) 2001 – 2004
Project Status Completed (Fiscal Year 2004)
Budget Amount *help
¥2,700,000 (Direct Cost: ¥2,700,000)
Fiscal Year 2004: ¥600,000 (Direct Cost: ¥600,000)
Fiscal Year 2003: ¥600,000 (Direct Cost: ¥600,000)
Fiscal Year 2002: ¥700,000 (Direct Cost: ¥700,000)
Fiscal Year 2001: ¥800,000 (Direct Cost: ¥800,000)
KeywordsAdam Smith / Finance / Bank / 利子 / 銀行 / 銀行制度 / 金融恐慌
Research Abstract

In this research, I consider the evolution of Adam Smith's theory of banking from his Lectures on Jurisprudence to The Wealth of Nations, with focusing on the relationship between the evolutional process of his theory and the economic issues in his days. Thus, I elucidates the multi-dimensional structure of Smith's thory of banking and the bank policy including both laisser-faire and regulations which apparently contradict each other.
At first, Smith was convinced that free competition of banks was effective enough to keep stability of economic order. However, after experiencing the exchange crisises in Scotland in early 1760s, Smith came to think that some legal regulations for banks were necessary. Furthermore, on facing the financial crisis and the bankruptcy of Ayr Bank in 1772, Smith became convinced that it was the most important for a bank to establish a reasonable and strict loan policy to escape a bad debt, Thus, Smith insists in The Wealth of Nations that free competition of banks, legal regulation, and bank's own reasonable lone policy are necessary in order to stabilize the banking system. Finally, I point that Smith shares some similar views with J.Steuart and J.M.Keynes concerning financial instability.

Report

(5 results)
  • 2004 Annual Research Report   Final Research Report Summary
  • 2003 Annual Research Report
  • 2002 Annual Research Report
  • 2001 Annual Research Report
  • Research Products

    (9 results)

All 2003 2002 2001 Other

All Journal Article (6 results) Publications (3 results)

  • [Journal Article] アダム・スミスにおけるケインズ的問題--総需要不足と金融不安定性をめぐって--2003

    • Author(s)
      新村聡
    • Journal Title

      岡山大学経済学会雑誌 35巻2号

      Pages: 27-35

    • NAID

      120002647263

    • Description
      「研究成果報告書概要(和文)」より
    • Related Report
      2004 Final Research Report Summary
  • [Journal Article] A.Smith and J.M.Keynes in Short-age of Aggregate Demand and Instability of Financial System2003

    • Author(s)
      Satoshi Niimura
    • Journal Title

      Okayama Economic Review 35(2)

      Pages: 27-35

    • Description
      「研究成果報告書概要(欧文)」より
    • Related Report
      2004 Final Research Report Summary
  • [Journal Article] 金融システムの古典理論--アダム・スミス銀行理論の成立過程2002

    • Author(s)
      新村聡
    • Journal Title

      岡山大学産業経営研究会研究報告書 37号

      Pages: 1-25

    • Description
      「研究成果報告書概要(和文)」より
    • Related Report
      2004 Final Research Report Summary
  • [Journal Article] Classical Theory of Stabilizing an Unstable Monetary System : The Evolution of Adam Smith's Theory of Banking2002

    • Author(s)
      Satoshi Niimura
    • Journal Title

      Okayama-Daigaku-Sangyo-Keiei-Kenkyukai-Kenkyuhokokusho 37

      Pages: 1-25

    • Description
      「研究成果報告書概要(欧文)」より
    • Related Report
      2004 Final Research Report Summary
  • [Journal Article] スミスのステュアート信用論批判2001

    • Author(s)
      新村聡
    • Journal Title

      岡山大学経済学会雑誌 32巻4号

      Pages: 161-174

    • NAID

      110000130075

    • Description
      「研究成果報告書概要(和文)」より
    • Related Report
      2004 Final Research Report Summary
  • [Journal Article] Adam Smith's Criticism of James Steuart's Theory of Banking2001

    • Author(s)
      Satoshi Niimura
    • Journal Title

      Okayama Economic Review 32(4)

      Pages: 161-174

    • NAID

      110000130075

    • Description
      「研究成果報告書概要(欧文)」より
    • Related Report
      2004 Final Research Report Summary
  • [Publications] 新村聡: "アダム・スミスにおけるケインズ的問題--総需要不足と金融不安定性をめぐって--"経済学会雑誌. 35・2. 27-35 (2003)

    • Related Report
      2003 Annual Research Report
  • [Publications] 新村聡: "金融システム安定化の古典理論-アダム・スミス銀行論の成立過程-"岡山大学産業経営研究会研究報告書. 37. 1-25 (2002)

    • Related Report
      2002 Annual Research Report
  • [Publications] 中村達也, 八木紀一郎, 新村聡, 井上義朗: "経済学の歴史"有斐閣. 348 (2001)

    • Related Report
      2001 Annual Research Report

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Published: 2001-04-01   Modified: 2016-04-21  

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