In the Edo period money was transferred by bills between Edo (now Tokyo) and Osaka, and money markets in these two cities were connected each other. Money was transferred principally through bills on Edo money-exchangers issued not by merchants but by Osaka money-exchangers. In the first half of...

La Porta et al see Anglo-American common law as most favourable to economic development, but in 1899 Japan explicitly preferred the German corporate law tradition. Yet its new Commercial Code omitted the GmbH (private company) form, which Guinnane et al see as the jewel in the crown of...

Lifetime employment is one of the most conspicuous features of contemporary large Japanese corporations. The employment practices of merchant houses in the Edo period are sometimes proposed as one source of such lifetime commitment. Little attention has been paid, however, to the connection...

Issues of bonds increased in inter-war Japan, the main investors in bonds being banks because demand for loans declined in this period. Banks that were more tolerant of risks (that is, whose capital ratio was higher) made a larger amount of loans, which were riskier than bonds. While national...

The issuance of bonds increased in inter-war Japan, the main investors being banks because the demand for loans declined in this period. Banks that were more tolerant to risk (that is, whose capital ratio was higher) made a larger amount of loans, which were riskier than bonds. While national...

A comparative examination of financial institutions in the interwar period focusing on the UK, the US, Germany, France, and Japan. In this latest addition to the prestigious Fuji Business History series, the contributors to the volume analyse the ways in which different institutions coped with...

Issues of bonds increased in inter-war Japan, the main investors in bonds being banks because demand for loans declined in this period. Banks that were more tolerant of risks (that is, whose capital ratio was higher) made a larger amount of loans, which were riskier than bonds. While national...

The problem of estimating the common regression coefficients is addressed in this paper for two regression equations with possibly different error variances. The feasible generalized least squares (FGLS) estimators have been believed to be admissible within the class of unbiased estimators. It...