2015 Fiscal Year Final Research Report
Stock exchanges in colonial India and its failure in building institutional bases for smooth and efficient functioning
| Project/Area Number |
24530403
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| Research Category |
Grant-in-Aid for Scientific Research (C)
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| Allocation Type | Multi-year Fund |
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| Section | 一般 |
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| Research Field |
Economic history
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| Research Institution | Osaka City University |
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Principal Investigator |
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| Project Period (FY) |
2012-04-01 – 2016-03-31
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| Keywords | 証券取引所 / インド / 植民地 / 経済制度 / ボンベイ / 株式会社 / 工業化 / 経営代理制度 |
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| Outline of Final Research Achievements |
The aim of this project was to clarify causes of malfunctionings of stock exchanges in colonial India, whose functions seems to be resecured only after the 1990s when the liberalised Indian economy set drastic improvement in the functioning. Based on intensive analysis of the malfunctioning of representative stock exchange in colonial India, this project made it clear that stock exchanges in colonial India suffered from serious informational asymetrics between sellers, buyers as well as intermidiaries of equity transactions, while pointing out that stock exchanges as well as governemtns failed in setting effective measures to reduce the informational asymetrics.
In the course of the analysis, this project heavily relied on archival evidences on Bombay Stock Exchnages, which are stored at Maharashtra State Archives in Mumbai as well as up-to-date economic theories on economic institutions.
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| Free Research Field |
経済史、南アジア史、経営史
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