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Comparative Study of Foreign Currency circulation in modern Asia and Africa

Research Project

Project/Area Number 15530232
Research Category

Grant-in-Aid for Scientific Research (C)

Allocation TypeSingle-year Grants
Section一般
Research Field Economic history
Research InstitutionThe University of Tokyo

Principal Investigator

KURODA Akinobu  The University of Tokyo, Institute of Oriental Culture, Professor, 東洋文化研究所, 教授 (70186542)

Project Period (FY) 2003 – 2004
Project Status Completed (Fiscal Year 2004)
Budget Amount *help
¥2,800,000 (Direct Cost: ¥2,800,000)
Fiscal Year 2004: ¥1,100,000 (Direct Cost: ¥1,100,000)
Fiscal Year 2003: ¥1,700,000 (Direct Cost: ¥1,700,000)
KeywordsMaria Theresia Dollar / Sterling Pound / Silver Price / Addis Ababa / Coffee Export / Ethiopia / China / Foreign silver coin / ルピー銀貨 / 東アフリカ / 現地通貨
Research Abstract

The most important information taken through the investigation on silver circulation of Africa in the Public Record Office in Surrey (UK) is to find out the monthly movement of the Maria Theresa dollar's price to the Sterling pound in Addis Ababa before the Italian invasion against Ethiopia. The correlation efficient between the price of the Maria Theresa dollar in Addis Ababa and the price of silver in London reveals us some interesting results. The period when the positive coefficient was high is coincide with the period the coffee export trade was favorite for Ethiopia, and the period in low coefficient is the period of stagnant trade.
This result hints that the export of a native product drove the price system in the local market to synchronize with the international market through the bridge by the Maria Theresa dollar. But it also suggests that the bridge was down when the international market changed the situation for the product.
This statistical analysis brings more implication on the role of foreign currencies from the nineteenth century to early twentieth century over the world. In this stage the relationship between the international price system and native price ones swung between tightness and looseness according to circumstances. That is why currencies of foreign origins were convenient for both parties to use as temporal connectors. Thus it is reasonable that the Maria Theresa dollar in Africa and the Japanese silver dollar, both were not in circulation in issuing countries of early twentieth century, share the appearance of a loop style circuit connecting many local markets.

Report

(3 results)
  • 2004 Annual Research Report   Final Research Report Summary
  • 2003 Annual Research Report
  • Research Products

    (8 results)

All 2005 Other

All Journal Article (4 results) Book (2 results) Publications (2 results)

  • [Journal Article] Copper-Coins Chosen and Silver Differentiated - Another Aspect of `Silver Century' in East Asia2005

    • Author(s)
      KURODA Akinobu
    • Journal Title

      Acta Asiatica 88

      Pages: 65-86

    • Description
      「研究成果報告書概要(和文)」より
    • Related Report
      2004 Final Research Report Summary
  • [Journal Article] Copper-Coins Chosen and Silver Differentiated -Another Aspect of 'Silver Century' in East Asia2005

    • Author(s)
      KURODA Akinobu
    • Journal Title

      Acta Asiatica 88

      Pages: 65-86

    • Description
      「研究成果報告書概要(欧文)」より
    • Related Report
      2004 Final Research Report Summary
  • [Journal Article] The Collapse of the Chinese Imperial Monetary System2005

    • Author(s)
      Akinobu KURODA
    • Journal Title

      Japan, China and the Growth of the Asian International Economy 1850-1949 (K.Sugihara ed.)(Oxford U.P.)

      Pages: 103-126

    • Description
      「研究成果報告書概要(欧文)」より
    • Related Report
      2004 Final Research Report Summary
  • [Journal Article] Copper-Coins Chosen and Silver Differentiated - Another Aspect of ‘Silver Century' in East Asia2005

    • Author(s)
      KURODA Akinobu
    • Journal Title

      Acta Asiatica 88

      Pages: 65-86

    • Related Report
      2004 Annual Research Report
  • [Book] The Collapse of the Chinese Imperial Monetary System' Japan, China and the Growth of the Asian International Economy, 1850-1949 (K.Sugihara ed.)2005

    • Author(s)
      KURODA Akinobu
    • Publisher
      Oxford U.P.
    • Description
      「研究成果報告書概要(和文)」より
    • Related Report
      2004 Final Research Report Summary
  • [Book] ‘The Collapse of the Chinese Imperial Monetary System' Japan, China and the Growth of the Asian International Economy,1850-1949(K.Sugihara ed.)2005

    • Author(s)
      KURODA Akinobu
    • Publisher
      Oxford U.P.
    • Related Report
      2004 Annual Research Report
  • [Publications] KURODA Akinobu: "What can Prices Tells Us about the 16-18^<th> Century China?"中国史学. 13. 96-112 (2004)

    • Related Report
      2003 Annual Research Report
  • [Publications] KURODA Akinobu: "Monies and Local Markets in Early Modern Periods : Comparison between China India and Japan'"Paper for HEDG(History and Economic Development Group) workshop, 5 July, 2003, London School of Economics. (口頭報告). (2003)

    • Related Report
      2003 Annual Research Report

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Published: 2003-04-01   Modified: 2016-04-21  

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