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The Sectoral Flow of Funds in Pre-War Japan: a Reconsideration

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The Balance between Industry and Agriculture in Economic Development

Part of the book series: International Economic Association Series ((IEA))

Abstract

There is a popular conventional view which suggests that agricultural surplus played a significant role in the financing of pre-war Japanese industrialisation. An attempt to examine this proposition from the viewpoint of modern economic theory was first undertaken by Ishikawa (1967). Inspired by his pioneering work, I renewed investigations through a direct estimation of the flow of financial assets and liabilities between the sectors during 1898–1939, concluding that there was no evidence to support the conventional view (Teranishi, 1976).

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Author information

Authors and Affiliations

  1. Hitotsubashi University, Tokyo, Japan

    Juro Teranishi

Authors
  1. Juro Teranishi
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Editor information

Sukhamoy Chakravarty

Copyright information

© 1989 International Economic Association

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Teranishi, J. (1989). The Sectoral Flow of Funds in Pre-War Japan: a Reconsideration. In: Chakravarty, S. (eds) The Balance between Industry and Agriculture in Economic Development. International Economic Association Series. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-10274-7_7

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  • DOI: https://doi.org/10.1007/978-1-349-10274-7_7

  • Publisher Name: Palgrave Macmillan, London

  • Print ISBN: 978-1-349-10276-1

  • Online ISBN: 978-1-349-10274-7

  • eBook Packages: EngineeringEngineering (R0)

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