The Development of bond markets in Pre-war Japan
Project/Area Number |
20530298
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Research Category |
Grant-in-Aid for Scientific Research (C)
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Allocation Type | Single-year Grants |
Section | 一般 |
Research Field |
Economic history
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Research Institution | The University of Tokyo |
Principal Investigator |
MAKOTO Kasuya The University of Tokyo, 大学院・経済学研究科, 教授 (40211841)
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Project Period (FY) |
2008 – 2010
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Project Status |
Completed (Fiscal Year 2010)
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Budget Amount *help |
¥4,290,000 (Direct Cost: ¥3,300,000、Indirect Cost: ¥990,000)
Fiscal Year 2010: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
Fiscal Year 2009: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
Fiscal Year 2008: ¥1,690,000 (Direct Cost: ¥1,300,000、Indirect Cost: ¥390,000)
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Keywords | 金融史 / 債券市場 / 金融機関 / 商業銀行 / 投資銀行 / ブローカー / 債券投資 / 経済史 / 金融市場 / 公社債 / 利回り |
Research Abstract |
The Japanese Economy was sluggish in the inter-war period. Banks, of which ratio of capital to the total assets declined due to the increase of the non-performing debts, collected higher-risk loans and invested in lower-risk bonds, although banks with higher capital ratio continued to make loans. With the development of bond markets, banks underwrote a large amount of bonds (underwriting bonds is a kind of investment banking) ; trust companies were established ; and savings bank held a large amount of bonds. In this way, various business models of banking emerged in inter-war Japan.
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Report
(4 results)
Research Products
(16 results)
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[Journal Article]2009
Author(s)
宮本又郎
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Journal Title
講座・日本経営史1 経営史・江戸の経験-1600~1882-(ミネルヴァ書房)
Pages: 243-277
Related Report
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