1987 Fiscal Year Final Research Report Summary
Historical Analysis of Japanese Financial Structure during World War 2nd
| Project/Area Number |
61301072
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| Research Category |
Grant-in-Aid for Co-operative Research (A)
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| Allocation Type | Single-year Grants |
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| Research Field |
Economic history
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| Research Institution | HOSEI University |
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Principal Investigator |
IMUTA Yoshimitsu Prof., Faculty of Business Administration, HOSEI Univ., 経営学部, 教授 (20061096)
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| Co-Investigator(Kenkyū-buntansha) |
HONMA Yasuo Asistant Prof., Faculty of commerce and Economics, CHIBA Univ. of COMMERCE, 商経学部, 助教授 (10137862)
TSURUMI Masayoshi Prof., Faculty of Economics, HOSET Univ., 経済学部, 教授 (10061227)
IKEGAMI Kazuo Prof., Faculty of Economics, KANAGAWA Univ., 経済学部, 教授 (90102219)
NAMIGATA Syoichi Prof., Faculty of Economics, DOKKYO Univ., 経済学部, 教授 (90049619)
SHIBUYA Ryuichi Prof., Raculty of Economics, KOMAZAWA Univ., 経済学部, 教授 (10052424)
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| Project Period (FY) |
1986 – 1987
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| Keywords | WARTIME FINANCE / JAPANESS FINANCIAL STRUCTURE / CONTROLED MONEY / AMALGAMATION OF BANKS / FOREIGH EXCHANGE CONTROL / FINANCE OF THE MUNITIONS INDUSTRY / 為替管理 / 資金調整計画 |
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| Research Abstract |
1. Although we have gained considerable result, our reseach could not complete at some points, because a part of recorda and archives on war-finance, for example Kaya Archives, were not made public by February 1988. Following are points of arguments in our research.
2. One of crucial questions concerned the allocation of funds as between the munitions industry and civilian industry was solved by reducing the funds for civilian sector. Country banks, which financed middle and small business in civilian industry before the war, had much trouble with unemployment of their funds.
3. Wartime financial control by MOF was supported by co-operative behavour, for example agreement on deposit interest, co-operative holding of treasury bonds, "co-operative finance" to munitions industry and creation of special financial institutions, among banks. Fund adjustment relied upon their co-operations.
4. During the war, the Bank of Japan expanded its note issue for holding of government securities and lending to the banking system and business. Gold standard abandaned 1932. Note issue system of the Bank of japan changed to "managed currency system" in 1941 legally. The reform of the Bank of Japan in 1942 changed the bank's character.
5. Yokohama Specie Bank played its role as organ of foreign controle for long time. Cutbreak of the Pacific War in 1941, however, stopped trades between Japan and countries belonged to allied forces, then the Yokohama Specie Bank lost its function as organ of foreign exchange control.
6. Under a special law in 1942, War-time Finance Bank was formed as financial institution for munitions industry whose financing was difficult to rely entirely on private financial institutions because of hight risks.
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