| Budget Amount *help |
¥2,860,000 (Direct Cost: ¥2,200,000、Indirect Cost: ¥660,000)
Fiscal Year 2014: ¥650,000 (Direct Cost: ¥500,000、Indirect Cost: ¥150,000)
Fiscal Year 2013: ¥650,000 (Direct Cost: ¥500,000、Indirect Cost: ¥150,000)
Fiscal Year 2012: ¥650,000 (Direct Cost: ¥500,000、Indirect Cost: ¥150,000)
Fiscal Year 2011: ¥910,000 (Direct Cost: ¥700,000、Indirect Cost: ¥210,000)
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| Outline of Final Research Achievements |
Why was the City of London enable to survive as one of the most powerful financial centers in the world? As is known well, the most influential study on it set high value on the development of Euro-Dollars Market in 1960s and the financial “Big Bang” in 1980s, both of which main players were non British commercial banks such as merchant bankers, foreign banks including American banks. Whereas, this research investigates the fundamental factors on the development of London money market after the end of the golden age of pound sterling through an analysis of internal records which related with foreign exchange business by British commercial banks (hereafter “clearing banks”) and obtains a lot of unreported facts. These facts suggest that major clearing banks played major roles in the development of not only Euro-Dollar but foreign exchange business in London since the early twentieth century.
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